SAN FRANCISCO, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Analyst Grant Zeng of Zacks Small Cap Research examines what transpired with this biopharmaceutical company during Q3/17.
Included in this article is: DURECT Corp. (NASDAQ:DRRX)
A Nov. 2 research report by Zeng for Zacks Small Cap Research indicated that DURECT Corp. total Q3/17 revenue was $20.7 million versus $3.7 million in Q3/16, and all forms of revenue were up year over year. DURECT's reported net income for Q3/17 was $6.1 million. This compares to a net loss of $8.8 million in Q3/16.
In Q3/17, research and development (R&D) collaborations generated $5.6 million versus $0.4 million in Q3/16. "A large portion of that increase [is] related to the recognition of deferred revenue from upfront fees already received by the company," Zeng wrote.
Continue reading this article: Analyst Says Biotech Share Price Could Potentially 'Double'
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