Durect Corp (NAS:DRRX)

$ 1.03 -0.03 (-2.83%) Market Cap: 31.97 Mil Enterprise Value: 23.96 Mil PE Ratio: 0 PB Ratio: 2.10 GF Score: 50/100

Q1 2022 DURECT Corp Earnings Call Transcript

May 04, 2022 / 08:30PM GMT

Release Date Price: $4.9 (+12.70%)

Transcript 10-Q8-K

Matthew Hogan

Good afternoon, and welcome to our First Quarter 2022 Earnings Conference Call. This is Matt Hogan from DURECT Corporation.

Before beginning, I'd like to remind you of our safe harbor statement. During the course of this call, we may make forward-looking statements regarding DURECT's products and development, expected product benefits, our development plans, future clinical trials or projected financial results. These forward-looking statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Further information regarding these and other risks can be found in our SEC filings, including our 10-K and 10-Qs under the heading Risk Factors.

Let me now turn to our financials, which were pretty uneventful in the first quarter. Total revenues in the first quarter of 2022 were $1.9 million, compared to $2.2 million in the first quarter 2021.

R&D expense was $8.2 million in Q1 2022, as compared to $8 million in Q1 2021. The increase was primarily due to higher clinical trial expenses and higher

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