BUZZ-Durect rises after selling Alzet pumps for $17.5 mln

Reuters11-25 19:47

** Drugmaker Durect Corp's DRRX.O shares rise ~4% to $1.05 premarket

** DRRX says it sold the Alzet product line of osmotic pumps to Lafayette Instrument Co for $17.5 mln

** Alzet pumps are small devices used in animal research to deliver drugs, hormones or other substances directly into the body over time

** DRRX used the sale to fully repay its loan with Oxford Finance LLC, co says

** Co also says that the sale strengthens its cash position, providing funds to operate until mid-2025

** As of last close, stock had risen 71.2% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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