Durect dives on Posidur rejection

Shares of Durect plummeted 30% in after-hours trading on 12 February after the company revealed it had received a complete response letter (CRL) from the FDA for the drug maker’s post-operative pain relief product Posidur, which uses the firm’s Saber technology to deliver bupivacaine.

The FDA told Durect that its new drug application failed to contain sufficient information to demonstrate that Posidur is safe...