DURECT CORPORATION (NASDAQ:DRRX) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement
As of August 1, 2017, DURECT and Zogenix, Inc. have terminated their Development and License Agreement (dated July 11, 2011, as amended) whereby Zogenix had the worldwide development and commercialization rights to Relday®.Relday is an investigational long-acting formulation of risperidone, an atypical anti-psychotic agent.Under the mutual termination agreement, Zogenix’s development and commercialization rights are returned to DURECT, and Zogenix will transfer to DURECT all regulatory filings and development information related to Relday.A summary of the material terms of the Zogenix Agreement was included in the Company’s Annual Report on Form 10-K filed on March 15, 2017, which is qualified in its entirety by reference to the full text of the Agreement and amendments (filed as Exhibit 10.66 to our Quarterly Report on Form 10-Q (File No. 000-31615) filed on November 7, 2011, and Exhibit 10.70 to our Quarterly Report on Form 10-Q (File No. 000-31615) filed with the SEC on May 3, 2013, respectively, and incorporated by reference).
About DURECT CORPORATION (NASDAQ:DRRX)
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic. The Company’s ALZET product line consists of miniature, implantable osmotic pumps and accessories used for experimental research in mice, rats and other laboratory animals. The Company also manufactures and sells osmotic pumps used in laboratory research and design; and develops and manufactures a range of standard and custom biodegradable polymers and excipients for pharmaceutical and medical device clients for use as raw materials in their products.
