DURECT announces Gilead Sciences will terminate the License Agreement in July 2019, effective December 22, for the development and commercialization of a long-acting injectable HIV investigational product utilizing DURECT’s SABER technology.
DURECT anticipates recognizing remaining deferred revenue of ~$23.1M Q2 of 2020, associated with the receipt of the upfront license and development milestone payment.
(NASDAQ:DRRX) is down ~1% in after hours.
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