DURECT CORPORATION Reports FY2023 Q2 Earnings Results on August 9th
August 16, 2023
🌥️Earnings Overview
On August 9th 2023, DURECT CORPORATION ($NASDAQ:DRRX) announced their financial results for the second quarter of FY2023, ending June 30th 2023. Total revenue remained the same at USD 2.1 million, however, net income decreased slightly from the previous year’s figure of -11.6 million to -11.2 million.
Market Price
DURECT CORPORATION reported their fiscal year 2023 second quarter earnings results on Wednesday, August 9th. The stock opened at $3.1 per share and closed at $3.2, a decrease of 0.6% from the previous closing price. This marked the second consecutive quarter in which the company saw a drop in its stock price. While DURECT CORPORATION’s overall performance was satisfactory, investors were concerned by the company’s outlook for the rest of the year.
In addition to the decrease in stock price, the company’s profits were down compared to last year, and its operating expenses were higher, which could put pressure on profits going forward. Overall, DURECT CORPORATION had a mixed performance in their second quarter results, with encouraging revenue growth but some concerning signs for the future. Investors will be watching closely to see if the company can turn things around in the coming quarters and maintain its profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Durect Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 19.43 | -36.11 | -177.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Durect Corporation. More…
| Operations | Investing | Financing |
| -29.98 | 19.84 | 0.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Durect Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 48.66 | 43.16 | 0.56 |
Key Ratios Snapshot
Some of the financial key ratios for Durect Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -27.1% | – | -171.7% |
| FCF Margin | ROE | ROA |
| -154.7% | -135.9% | -42.8% |
Analysis
At GoodWhale, we’ve analyzed the financials of DURECT CORPORATION and determined that it is a medium risk investment. We have detected three risk warnings in the balance sheet, cashflow statement, and financial journal. To investigate further, become a registered user with GoodWhale and view these warnings. We suggest that investors take into consideration factors such as the company’s current position, their long-term goals, the risk of financial loss, and other aspects when deciding whether or not to invest in DURECT CORPORATION. Our ratings provide insight into the company’s financial health, but it is ultimately up to you to decide if this investment is right for you. More…
Peers
The company’s products include Suboxone, an opioid dependence treatment; and buprenorphine/naloxone, a treatment for opioid dependence. Durect Corporation‘s competitors include Lanzhou Foci Pharmaceutical Co Ltd, Taro Pharmaceutical Industries Ltd, Avadel Pharmaceuticals PLC.
– Lanzhou Foci Pharmaceutical Co Ltd ($SZSE:002644)
Lanzhou Foci Pharmaceutical Co Ltd is a Chinese company that focuses on the research and development, production, and sales of traditional Chinese medicinal materials and finished traditional Chinese medicines. As of 2022, Lanzhou Foci Pharmaceutical Co Ltd has a market capitalization of 5.46 billion yuan and a return on equity of 3.76%. The company’s products are mainly used in the fields of cardiovascular and cerebrovascular diseases, diabetes, cancer, and infectious diseases.
– Taro Pharmaceutical Industries Ltd ($NYSE:TARO)
Taro Pharmaceutical Industries Ltd is a pharmaceutical company with a market cap of 1.08B as of 2022. The company has a Return on Equity of 1.92%. The company’s products include prescription and over-the-counter drugs, topical creams and ointments, and generic drugs. The company’s products are sold in over 60 countries around the world.
– Avadel Pharmaceuticals PLC ($NASDAQ:AVDL)
Adaval Pharmaceuticals PLC is a pharmaceutical company with a focus on developing treatments for rare diseases. The company has a market cap of 492.38M as of 2022 and a return on equity of -255.63%. The company’s products include orphan drugs and treatments for conditions such as Gaucher disease and Fabry disease.
Summary
DURECT CORPORATION reported its FY2023 Q2 earnings on August 9 2023, showing total revenue of USD 2.1 million, identical to the prior year. Net income decreased to USD -11.2 million from the previous year’s -11.6 million. This suggests that DURECT CORPORATION is not performing as well financially as it has in the past, but investors should still consider the company’s competitive advantages and long-term potential before making any decisions. Moreover, the company’s financial statements should be closely monitored to get a better understanding of the company’s performance over time.
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