DURECT Corporation Presents an Update to Its Development Pipeline and Hosts 1st Analyst Luncheon

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CUPERTINO, Calif., Jan. 5 /PRNewswire-FirstCall/ — DURECT Corporation
(Nasdaq: DRRX) announced today that the Company will host a reception to
provide an update to its development pipeline and program objectives for
fiscal year 2005. The presentation will be held at the Weinstein Gallery in
San Francisco, CA. James E. Brown, President and Chief Executive Officer, will
be presenting on Tuesday, January 11, 2005 at 5:30 p.m. Pacific Time.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020717/DRRXLOGO )

DURECT Analyst Luncheon

The Company also announced today that it will host an analyst luncheon to
review the potential product markets and clinical strategy/experience of its
development programs. The presentation will be held at the St. Regis Hotel in
New York, NY on Wednesday, February 16th at 12:00 p.m. Eastern Time (9:00 a.m.
Pacific Time). The presenters will include DURECT management and relevant
clinicians and thought leaders.

A live audio webcast of each presentation will be available by accessing
DURECT’s homepage at http://www.www.durect.com and clicking “Investor Relations.”

About DURECT Corporation

DURECT Corporation is an emerging specialty pharmaceuticals systems
company focused on the development of pharmaceutical systems based on its
proprietary drug delivery platform technologies that treat chronic
debilitating diseases and enable biotechnology products. These platform
technologies include the SABER(TM) Delivery System (a patented and versatile
depot injectable useful for protein and small molecule delivery), the
ORADUR(TM) sustained release oral gel-cap technology (an oral sustained
release technology with several potential abuse deterrent properties), the
DURIN(TM) Biodegradable Implant (drug-loaded implant system) and the
MICRODUR(TM) Biodegradable Microparticulates (microspheres injectable system).
DURECT also partners with pharmaceutical companies to develop and
commercialize proprietary and enhanced pharmaceutical products based on its
technologies. DURECT has five disclosed on-going development programs of which
three are in collaboration with pharmaceutical partners. Additional
information about DURECT is available at www.www.durect.com.

NOTE: SABER(TM), ORADUR(TM), DURIN(TM) and MICRODUR(TM) are trademarks of
DURECT Corporation. Other referenced trademarks belong to their respective

The statements in this press release regarding DURECT’s products in
development and product development plans are forward-looking statements
involving risks and uncertainties that can cause actual results to differ
materially from those in such forward-looking statements. Potential risks and
uncertainties include, but are not limited to, DURECT’s abilities to complete
the design, development, and manufacturing process development of its
products, manufacture and commercialize its products, obtain product and
manufacturing approvals from regulatory agencies, manage its growth and
expenses, manage relationships with third parties, finance its activities and
operations, as well as marketplace acceptance of these products. Further
information regarding these and other risks is included in DURECT’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2003 filed with the
SEC on March 11, 2004, DURECT’s Quarterly Report on Form 10Q and other
periodic reports filed with the SEC under the heading “Factors that may affect
future results.”


Schond L. Greenway
Executive Director, IR and Strategic
Planning, of DURECT Corporation

/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020717/DRRXLOGO
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/Web site: http://www.www.durect.com /

01/05/2005 07:30 EST http://www.prnewswire.com

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