Biopharma Durect shares halted ahead of FDA committee meeting on post-surgical pain treatment

Shares of biopharmaceutical company Durect Corp. were halted Thursday, ahead of a U.S. Food and Drug Administration committee meeting to review Posimir, a treatment for post-surgical pain. The meeting of the Anesthetic and Analgesic Drug Products Advisory Committee (AADPAC) will start at 8 a.m. Eastern and is expected to end at 5. p.m. Posimir is designed to be injected into the surgical site and to deliver bupivacanine for up to three days after surgery. The FDA is not obliged to follow the recommendation of the committee but often does so. Durect shares have gained 305% in the last 12 months, while the S&P 500 has gained 26%.

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