Streetwise Reports Examines How Analysts Take Note

SAN FRANCISCO, CA --(Marketwired - July 06, 2017) - With enrollment complete in its Phase 3 trial of a compound that treats post-operative pain, and an infusion of cash from a new partnership with a major pharmaceutical corporation, one analyst has initiated coverage of this California-based company, and another has reiterated his investment thesis.

Included in this article is: DURECT Corp. ( NASDAQ : DRRX )

In a June 22 press release , DURECT Corp. announced that it has completed enrollment for its Phase 3 PERSIST trial for Posimir, "an investigational locally acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery."

Moreover, as Ed Arce, an analyst with H. C. Wainwright, noted in a June 23 research report, the trial enrolled more rapidly than anticipated, and also included more patients. "The expected enrollment number for PERSIST was 264 patients, [but] actual enrollment was notably higher, at 296 patients, as a result of rapid enrollment toward the end of the trial," Arce wrote. "Early completion of enrollment for PERSIST, at 12% higher enrollment than targeted, has positive implications for Posimir."

Delving deeper, Arce laid out "three important positive implications" of the trial enrollment news. "First, a higher enrollment number may indicate increased physician and patient interest in Posimir. Second, having significantly more patients strengthens the statistical robustness of PERSIST results. Third, at minimum, a higher enrollment will provide a higher patient count for the NDA (new drug application) safety database," Arce explained. "Lastly, we also note that the final screen failure rate in PERSIST is lower than planned. In our view, and aside from Posimir itself, the clear interest in PERSIST speaks to the clinical need for new non-opioid options for post-operative pain management."

In a June 29 report initiating coverage on DURECT, Patrick Dolezal, an analyst with LifeSci Capital, cited the promise of DURECT's DUR-928 in chronic liver diseases, acute organ injury and inflammatory disorders, as well as its progress with Posimir for treatment of post-operative pain and its development and commercialization agreement with Sandoz (a division of Novartis AG ), announced in May.

Continue reading this article: Analysts Take Note as Small-Cap Biotech Completes Early Enrollment for Phase 3 Trial

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