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Investing

Durect Having Great Week with Painkiller News

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By Douglas A. McIntyre Published
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From BioHealth Investor

Durect Corporation (DRRX) is having a great week so far.

The company inked a deal with Danish pharmaceutical company Nycomed to commercialize Posidur, a local anesthetic for post-op pain, in Europe. This deal could be worth over $200 million in royalties and upfront payments to Durect if Posidur reaches certain milestones. The drug is currently in various phase II trials, and is expected to enter phase III studies next year.

Durect also recieved some great news as its abuse-free opioid painkiller technology licensed to Pain Therapeutics showed positive results in a phase I trial. Pain Therapeutics is a BioHealth Investor Stock Pick.

Durect insiders were expecting great things to come as company officers were buying shares back in August and September.

Shares of Durect jumped more than 20% on Thursday with over 8 million shares trading hands. The 3-month daily average volume is just over 400 thousand shares.

http://www.biohealthinvestor.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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