DURECT Announces Resignation of Chief Medical Officer

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Jun 02, 2011, 04:15 ET

CUPERTINO, Calif., June 2, 2011 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) announced today that Dr. Joseph Stauffer, Chief Medical Officer and Executive Vice President, Corporate Strategy has resigned effective June 21, 2011 to pursue other opportunities. Dr. Stauffer and DURECT have entered into a consulting agreement through December 31, 2011.

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"We appreciate all of Joe's efforts over the last two years, most notably in designing the U.S. pivotal Phase III clinical study for POSIDUR® (BESST), look forward to his continuing assistance through a consulting arrangement and wish him all the best in his future endeavors," stated James E. Brown, President and CEO. "We are confident that the clinical and regulatory team we have in place will continue to execute in advancing our pipeline of programs in development."

"I enjoyed my time at DURECT and believe in the medical benefits of the company's pipeline," said Joseph Stauffer, D.O., M.B.A.

About DURECT Corporation

DURECT is a specialty pharmaceutical company developing innovative drugs for pain and other chronic diseases, with late-stage development programs including REMOXY®, POSIDUR™, ELADUR®, and TRANSDUR®-Sufentanil. DURECT's proprietary oral, transdermal and injectable depot delivery technologies enable new indications and superior clinical/commercial attributes such as abuse deterrence, improved convenience, compliance, efficacy and safety for small molecule and biologic drugs. For more information, please visit www.durect.com.

NOTE: POSIDUR™, SABER™, ORADUR®, TRANSDUR®, and ELADUR™ are trademarks of DURECT Corporation. Other referenced trademarks belong to their respective owners. REMOXY, POSIDUR, ELADUR and TRANSDUR-Sufentanil are drug candidates under development and have not been approved for commercialization by the U.S. Food and Drug Administration or other health authorities.

SOURCE DURECT Corporation