Durect: 3Q Earnings Snapshot
CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Wednesday reported a third-quarter loss of $2.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cupertino, California-based company said it had a loss of 2 cents.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The specialty pharmaceutical company posted revenue of $8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $6.6 million.
In the final minutes of trading on Wednesday, the company’s shares hit $1.02. A year ago, they were trading at 99 cents.