Durect: 2Q Earnings Snapshot
Posted August 3, 2020 5:30 pm.
Last Updated August 3, 2020 5:38 pm.
This article is more than 5 years old.
CUPERTINO, Calif. (AP) _ Durect Corp. (DRRX) on Monday reported second-quarter net income of $14.3 million, after reporting a loss in the same period a year earlier.
The Cupertino, California-based company said it had net income of 7 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The specialty pharmaceutical company posted revenue of $25.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $19.8 million.
In the final minutes of trading on Monday, the company’s shares hit $2.35. A year ago, they were trading at $1.09.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DRRX at https://www.zacks.com/ap/DRRX
The Associated Press
