Durect reports Q3 EPS (14c), consensus (42c)

Reports Q3 revenue $1.7M, consensus $2.97M. At September 30, cash, cash equivalents and investments were $39.1M, compared to $43.6M at December 31, 2022. Debt at September 30, was $18.7M, compared to $21.2M at December 31, 2022. “The recently reported topline results from the AHFIRM trial showed that larsucosterol has the potential to reduce mortality in alcohol-associated hepatitis patients,” stated James E. Brown, President and CEO of DURECT. “We believe that larsucosterol represents a promising potential treatment for AH, a disease with no effective therapies today, and has the potential to save thousands of lives each year, if approved. We look forward to entering discussions with the FDA in the Q1of 2024 regarding the AHFIRM data and requirements for FDA approval of larsucosterol for the treatment of AH. We also plan to discuss the design of a potential registrational Phase 3 trial using mortality as the primary endpoint.”