Durect (DRRX)

[realfast95]

Item 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).