DURECT Corporation Announces Second Quarter 2019 Financial Results and Update of Programs

Friday, August 2, 2019 General News
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Live Webcast of Earnings Call Today at 4:30 p.m. Eastern Time

DURECT CORPORATION

CONDENSED BALANCE SHEETS

(in thousands)

As of

As of

June 30, 2019

December 31, 2018(1)

(unaudited)

ASSETS

Current assets:

    Cash and cash equivalents

$        36,943

$                    31,644

    Short-term investments

996

2,671

    Accounts receivable

2,142

1,757

    Inventories, net

3,665

3,421

    Prepaid expenses and other current assets

1,336

2,247

Total current assets

45,082

41,740

Property and equipment, net

533

605

Operating lease right-of-use assets

6,717

-

Goodwill

6,399

6,399

Long-term restricted Investments

150

150

Other long-term assets

1,106

1,105

Total assets

$        59,987

$                    49,999

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

    Accounts payable

$          2,012

$                      1,589

    Accrued liabilities

4,377

4,668

    Contract research liability

1,204

1,405

    Term loan, current portion, net

972

-

    Operating lease liabilities, current portion

2,014

-

Total current liabilities

10,579

7,662

Deferred revenue, noncurrent portion

812

812

Operating lease liabilities, noncurrent portion

5,143

-

Term loan, noncurrent portion, net

19,838

20,533

Other long-term liabilities

721

992

Stockholders' equity

22,894

20,000

Total liabilities and stockholders' equity 

$        59,987

$                    49,999

(1)  Derived from audited financial statements.



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