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mlkrborn

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mlkrborn

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Friday, 01/06/2012 2:03:35 PM

Friday, January 06, 2012 2:03:35 PM

Post# of 1026
DRRX 0.74. test failure.
Market Pulse Archives

Jan. 6, 2012, 11:39 a.m. EST
Durect plunges 33% on failed drug study




By Val Brickates Kennedy



BOSTON (MarketWatch) -- Shares of Durect Corp. /quotes/zigman/84139/quotes/nls/drrx DRRX -37.42% plunged 33% to 79 cents on Friday, the day after it reported that a Phase III clinical trial failed to show its painkiller Posidur was effective in combating post-surgical pain. The trial was intended to evaluate how effective the product was in helping to reduce pain in patients during the first three days following abdominal surgery. Durect said it plans to discuss the results with U.S. regulators. Hospira Inc. /quotes/zigman/346012/quotes/nls/hsp HSP -1.88% holds the commercial license for Posidur for the U.S. and Canadian markets.
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