Durect: 2Q Earnings Snapshot
CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Wednesday reported a loss of $7 million in its second quarter.
On a per-share basis, the Cupertino, California-based company said it had a loss of 4 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The specialty pharmaceutical company posted revenue of $3.4 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $3.8 million.
In the final minutes of trading on Wednesday, the company’s shares hit $1.50. A year ago, they were trading at $1.76.