Durect rockets on news of deal with Gilead

22 July 2019

Shares of US biotech firm Durect (Nasdaq: DRRX) were up as much as 39% in light pre-market volume today, as it announced a significant collaboration with Gilead Sciences (Nasdaq: GILD).

Durect said it granting Gilead the exclusive worldwide rights to develop and commercialize a long-acting injectable HIV product utilizing Durect’s SABER technology.

Gilead also received exclusive access to the SABER platform for HIV and hepatitis B virus (HBV) and the exclusive option to license additional SABER-based products directed to HIV and HBV.

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