The following is a summary of the DURECT Corporation (DRRX) Q2 2024 Earnings Call Transcript:
Financial Performance:
DURECT reported Q2 2024 revenues of $2.2 million, compared to $2.1 million in the same quarter last year.
Research and Development expenses decreased to $2.2 million in Q2 2024 from $7.9 million in Q2 2023, reflecting lower clinical trial-related and employee costs.
SG&A expenses were reduced to $3.0 million from $3.8 million due to cost-management measures.Current cash and investment reserves stand at $15.8 million, sufficient to fund operations through the end of 2024.
Business Progress:
DURECT has made significant advances with larsucosterol, moving towards a confirmatory Phase III clinical trial for alcohol-associated hepatitis (AH).
The FDA has engaged positively with the proposed clinical trial, confirming a single pivotal trial sufficiency for an NDA filing.
Larsucosterol received Breakthrough Therapy designation, enhancing interaction with the FDA.
Opportunities:
Larsucosterol, if successful in Phase III trials, could become the first FDA-approved treatment for AH, addressing an unmet medical need.
The drug's potential market in AH hospitalizations could translate into substantial cost savings for the healthcare system in the U.S.
Risks:
The expected time line for Phase III trial initiation and completion carries uncertainties, requiring confirmed funding. Gradual progress is anticipated as detailed information and FDA confirmations are pending.
More details: Durect IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
