DURECT Corporation (NASDAQ: DRRX) up 13% after announcing that it will release Q3 2021 financial results on November 2, 2021, after market close.
Market Action:
On Friday, DRRX stock rose 13.27% at $1.2800 with more than 1.30 million shares, compared to its average volume of 462.67K shares. The stock has moved within a range of $1.1399 – 1.3000 after opening the trade at $1.1400.
Key Trigger
The company is expected to report a YoY earnings increase on low revenues for the quarter ending September 30, 2021. Consensus estimates project that the company will report a quarterly loss per share of $0.04, representing a 20% YoY. However, revenue is expected to drop 18.7% from a year ago to $2.18 million. In the second quarter, the company reported total revenue of $2.3 million with a net loss of $9.1 million.
In Q2, when the company released results, it indicated that it had expanded US clinical sites for Phase 2b AHFIRM trial to 26 locations for its flagship products DUR-928 in Alcohol-associated hepatitis. The company indicated that it has opened 75% of its US Sites and anticipates opening clinical sites in the UK and Australia in months to come. So in the coming weeks, DRRX is worth keeping an eye on.
Technical Data
DRRX stock is trading above the 20-Day and 50-Day Moving averages of $1.19 and $1.26 respectively. However, the stock is trading below the 200-Day moving average of $1.70. The stock down up 32% in the past 6-month.
