search icon
      blog search icon

      Durect Corporation (DRRX) stock Rallies Big in the After Hours. Any Reason? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      December 20, 2021

      6:57 AM UTC

      Durect Corporation (DRRX) stock Rallies Big in the After Hours. Any Reason? - Stocks Telegraph

      Durect Corporation (DRRX) stock gained 9.27% in the after-hours at 229.78K shares on December 17. The stock seems to be gaining while there is no recent news from the company.

      During the regular session, the stock moved between a high of $1.05 and a low of $0.94 at 1.43M shares. DRRX closed the session at $0.9517, with a loss of 2.00%. Soon the stock saw a reversal, as it started gaining in the after-hours on Friday.

      Currently, the 227.51 million outstanding shares of the company trade at a market capitalization of $216.52 million.

      DRRX’s Recent Developments

      Recently, the company announced adding a new member to its board of directors, on December 14. DRRX appointed Peter García to its board of directors. Peter has extensive experience of over 25 years in financial leadership.

      Previously, the company participated in a workshop at the 5th Annual NASH Summit, held from November 29 to December 02, 2021. The CEO and President of DRRX, James E. Brown discussed key drivers of morbidity and mortality in alcoholic liver disease. Moreover, he also discussed the critical need for the development of effective treatments for the disease.

      AHFIRM Study

      On November 10, the company announced the dosing of the first ex-U.S. patients in Australia in its AHFIRM study. AHFIRM is a randomized, double-blind, placebo-controlled, multi-center Phase 2b study. Moreover, the study is designed to determine the safety and efficacy of larsucosterol in patients with severe alcohol-associated hepatitis (AH). Currently, DRRX is targeting over 60 clinical trial sites in the U.S., EU, U.K., and Australia. Moreover, larsucosterol has been granted Fast Track Designation for the treatment of AH, by the U.S. FDA.

      AH is a life-threatening liver disease with severe inflammation and liver tissue destruction due to chronic alcohol consumption. Moreover, stopping alcohol consumption is not enough to reverse the damage, and liver transplant is a costly, time-consuming process.

      DRRX’s Financial Highlights

      On November 03, the company announced its financial results for the third quarter of 2021. According to the results, DRRX had total revenue of $2.2 million in the third quarter of 2021, against $1.8 million in the year-ago quarter.

      Moreover, the net loss for the third quarter of 2021, was $10.0 million, against $9.3 million in the Q3 of 2020.

      The company ended the third quarter of 2021, with cash and investments of $80.9 million.

      More From Stocks telegraph