DURECT Corporation Appoints Matthew J. Hogan as Chief Financial Officer

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CUPERTINO, Calif., Sept. 12 /PRNewswire-FirstCall/ — DURECT Corporation
(Nasdaq: DRRX), an emerging specialty pharmaceuticals company, announced today
that Matthew J. Hogan has joined the Company as Chief Financial Officer.

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

“DURECT is fortunate to have Matt join our senior management team. Matt
brings over 10 years of in-depth knowledge regarding corporate financial
transactions as a former investment banker for Merrill Lynch and over 10 years
of experience as a chief financial officer of several publicly traded
companies, including experience managing commercial product sales. Matt will
be a strong contributor to our corporate mission as we rapidly move our
company into the next stage of growth,” said James E. Brown, DVM, President
and CEO of DURECT.

Matthew Hogan joins DURECT from Ciphergen Biosystems, Inc., where he was
the Chief Financial Officer from 2000 to 2006 and a consultant from March
2006. Prior to joining Ciphergen, Mr. Hogan was the Chief Financial Officer
at Avocet Medical, Inc. from 1999 to 2000. From 1996 to 1999, Mr. Hogan was
the Chief Financial Officer at Microcide Pharmaceuticals, Inc. From 1986 to
1996, he held various positions in the investment banking group at Merrill
Lynch & Co., most recently as a Director focusing on the biotechnology and
pharmaceutical sectors. Mr. Hogan holds a B.A. in economics from Dartmouth
College and an M.B.A. from the Amos Tuck School of Business Administration.

About DURECT Corporation

DURECT Corporation is an emerging specialty pharmaceutical 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. Additional information about DURECT is
available at www.www.durect.com.

DURECT Forward-Looking Statement

The statements in this press release regarding DURECT’s anticipated growth
and development are forward-looking statements including 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 ability to successfully design, enroll,
conduct and complete clinical trials, complete the design, development, and
manufacturing process development of the product candidate, obtain product and
manufacturing approvals from regulatory agencies and manufacture and
commercialize the product candidate, as well as marketplace acceptance of the
product candidate. Further information regarding these and other risks is
included in DURECT’s Annual Report on Form 10-Q filed with the SEC on August
9, 2006 under the heading “Risk Factors.”

CONTACT: Schond L. Greenway, Vice President, Investor Relations and
Strategic Planning of DURECT Corporation, +1-408-777-1417
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020717/DRRXLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
Web site: http://www.www.durect.com

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