DURECT Corporation (DRRX) - Financial and Strategic SWOT Analysis
Review
Reference Code: GDME305FSA Publication Date: APR 2012
10260 Bubb Road Phone +1 408 7771417 Revenue 33.5 (million USD)
Cupertino, CA Fax +1 408 7773577 Net Profit -18.77 (million USD)
95014 Website www.durect.com Employees 106
United States Exchange DRRX [NASDAQ] Industry Medical Equipment
Company Overview
DURECT Corporation (Durect) is a pharmaceutical company engaged in the development of pharmaceutical systems based on
proprietary drug delivery technology platforms to treat chronic debilitating diseases. It is also involved in the development of
biotechnology products. Currently, the company markets two products, namely, Alzet osmotic pump and Lactel biodegradable
polymer. Durect has five drug delivery technology platforms, namely, SABER delivery system, ORADUR delivery system,
TRANSDUR delivery system, DURIN biodegradable implant and MICRODUR biodegradable microparticulate. The company
operates in North America, Europe and Asia.
Key Executives SWOT Analysis
Name Title DURECT Corporation, SWOT Analysis
Felix Theeuwes Chairman Strengths Weaknesses
James E. Brown Chief Executive Officer
Proprietary Drug Delivery Increasing Trade Receivables
Simon X. Benito Director Technology Platforms
Dependence on the US Market
Dr. Terrence F. Blaschke Director
Strategic Agreements
Michael D. Casey Director
Source: Annual Report, Company Website, Primary and Secondary
Research, GlobalData Opportunities Threats
Share Data Product Pipeline Uncertain R&D Outcomes
DURECT Corporation
Build Sales and Marketing Competitive Landscape
Share Price (USD) as on 20-Apr- 0.72 Channels
2012
EPS (USD) -0.21
Source: Annual Report, Company Website, Primary and Secondary Research,
Market Cap (million USD) 64 GlobalData
Enterprise Value (million USD) 55
Shares Outstanding (million) 88
Source: Annual Report, Company Website, Primary and Secondary
Research, GlobalData
Financial Performance Recent Developments
Mar 01, 2012 DURECT Reports Revenue Of $33.5m In 2011
Nov 03, 2011 DURECT Reports Revenues Of $8.1m In Q3
2011
Aug 04, 2011 DURECT Reports Total Revenues Of $7.8m In
Q2 2011
Jun 02, 2011 DURECT Announces Resignation Of Chief
Medical Officer
Source: Annual Report, Company Website, Primary and Secondary Research,
GlobalData
Source: Annual Report, Company Website, Primary and Secondary
Research, GlobalData
DURECT Corporation (DRRX) - Financial and Strategic SWOT Reference Code: GDME305FSA
Analysis Review
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Table of Contents
Table of Contents ............................................................................................................................................................................... 2
List of Tables .................................................................................................................................................................................. 4
List of Figures ................................................................................................................................................................................. 4
Section 1 - About the Company.......................................................................................................................................................... 5
DURECT Corporation - Key Facts...................................................................................................................................................... 5
DURECT Corporation - Key Employees ............................................................................................................................................. 6
DURECT Corporation - Key Employee Biographies ........................................................................................................................... 7
DURECT Corporation - Major Products and Services ........................................................................................................................ 8
DURECT Corporation - Medical Equipment Pipeline Products Data .................................................................................................. 9
DURECT Corporation Pipeline Products by Equipment Type......................................................................................................... 9
DURECT Corporation Pipeline Products by Development Stage ................................................................................................. 11
DURECT Corporation - Pharmaceutical Pipeline Products Data...................................................................................................... 13
DURECT Corporation, Pipeline Products by Therapy Area .......................................................................................................... 13
DURECT Corporation, Pipeline Products by Development Phase ............................................................................................... 14
DURECT Corporation - History ........................................................................................................................................................ 53
DURECT Corporation - Company Statement ................................................................................................................................... 55
DURECT Corporation - Locations And Subsidiaries ........................................................................................................................ 56
Head Office ................................................................................................................................................................................... 56
Section 2 – Company Analysis ......................................................................................................................................................... 57
DURECT Corporation - Business Description .................................................................................................................................. 57
DURECT Corporation - Corporate Strategy ..................................................................................................................................... 58
DURECT Corporation - SWOT Analysis........................................................................................................................................... 59
SWOT Analysis - Overview........................................................................................................................................................... 59
DURECT Corporation - Strengths ................................................................................................................................................. 59
Strength - Proprietary Drug Delivery Technology Platforms ...................................................................................................... 59
Strength - Strategic Agreements ............................................................................................................................................... 59
DURECT Corporation - Weaknesses ........................................................................................................................................... 59
Weakness - Increasing Trade Receivables ............................................................................................................................... 59
Weakness - Dependence on the US Market ............................................................................................................................. 60
Weakness - Dependence on Sole-Source Suppliers................................................................................................................. 60
DURECT Corporation - Opportunities ........................................................................................................................................... 60
Opportunity - Product Pipeline .................................................................................................................................................. 60
Opportunity - Build Sales and Marketing Channels ................................................................................................................... 60
Opportunity - Biotech Focus ...................................................................................................................................................... 60
Opportunity - Market Potential: Pain.......................................................................................................................................... 61
DURECT Corporation - Threats .................................................................................................................................................... 61
Threat - Uncertain R&D Outcomes ........................................................................................................................................... 61
Threat - Competitive Landscape ............................................................................................................................................... 61
Threat - Tightening of FDA’s Regulatory Oversight ................................................................................................................... 61
DURECT Corporation - Key Competitors ......................................................................................................................................... 62
Section 3 – Company Financial Ratios ............................................................................................................................................. 63
Financial Ratios - Capital Market Ratios........................................................................................................................................... 63
Financial Ratios - Annual Ratios ...................................................................................................................................................... 63
Performance Chart ........................................................................................................................................................................... 65
Financial Performance...................................................................................................................................................................... 65
DURECT Corporation (DRRX) - Financial and Strategic SWOT Reference Code: GDME305FSA
Analysis Review
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Financial Ratios - Interim Ratios....................................................................................................................................................... 66
Financial Ratios - Ratio Charts ......................................................................................................................................................... 67
Section 4 – Company’s Lifesciences Financial Deals and Alliances ................................................................................................ 68