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Filing Details

Accession Number:: 0001140361-16-084885
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-11-04 15:43:39
Reporting Period:: 2016-11-03

Filing Date:: 2016-11-04
Accepted Time:: 2016-11-04 15:43:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1082038	Durect Corp	DRRX	Pharmaceutical Preparations (2834)	943297098

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1325447	First Eagle Investment Management, Llc	1345 Avenue Of The Americas 44Th Floor New York NY 10105	No	No	Yes	No
1457518	First Eagle Value In Biotechnology Master Fund, Ltd.	Citco Fund Services (Cayman Islands) Ltd Regatta Office Park West Bay Road Grand Cayman E9 KY1-1205	No	No	Yes	No
1459688	21 April Fund, L.p.	First Eagle Investment Management, Llc 1345 Avenue Of The Americas, 44Th Floor New York NY 10105	No	No	Yes	No
1459708	21 April Fund, Ltd.	Citco Fund Services (Cayman Islands) Ltd Regatta Office Park West Bay Road Grand Cayman E9 KY1-1205	No	No	Yes	No
1637141	First Eagle Holdings, Inc.	1345 Avenue Of The Americas New York NY 10105	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2016-11-03	50,000	$1.18	22,431,546	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2016-11-03	25,000	$1.14	22,456,546	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2016-11-03	20,000	$1.14	22,476,546	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	P	Indirect	See Footnote

Footnotes

This Form 4 is filed by 21 April Fund, LP ("April LP"), 21 April Ltd. ("April Ltd."), First Eagle Investment Management, LLC ("FEIM"), First Eagle Value in Biotechnology Master Fund, Ltd. ("FEVIBM") and First Eagle Holdings, Inc. ("FEHI" and, collectively with April LP, April Ltd., FEIM and FEVIBM, the "Entities"). The Entities disclaim status as a "group" for purposes of this Form 4.
These shares are indirectly beneficially owned by certain separately managed accounts, including accounts for which FEIM serves as registered investment adviser (the "Separately Managed Accounts").
The shares of Common Stock reported herein are indirectly beneficially owned by FEHI and FEIM, a Delaware limited liability company and an investment adviser registered under the Investment Advisers Act of 1940. FEIM is (i) a general partner of April LP, (ii) the registered investment adviser to FEVIBM as well as to April LP and April Ltd. (collectively, the "Funds"), (iii) a subsidiary of FEHI and (iv) FEIM is investment adviser to certain of the Separately Managed Accounts. FEHI disclaims Section 16 beneficial ownership of the shares held directly by the Funds except to the extent, if any, of its pecuniary interest therein, and this report shall not be deemed an admission that FEHI is the Section 16 beneficial owner of any such securities.
Represents 3,426,893, 13,367,709, 5,586,944 and 50,000 shares held directly by 21 April LP, 21 April Ltd., FEVIBM and the Separately Managed Accounts, respectively. FEHI disclaims Section 16 beneficial ownership of the shares held directly by the Funds except to the extent, if any, of its pecuniary interest therein, and this report shall not be deemed an admission that FEHI is the Section 16 beneficial owner of any such securities.
Represents 3,426,893, 13,367,709, 5,586,944 and 75,000 shares held directly by 21 April LP, 21 April Ltd., FEVIBM and the Separately Managed Accounts, respectively. FEHI disclaims Section 16 beneficial ownership of the shares held directly by the Funds except to the extent, if any, of its pecuniary interest therein, and this report shall not be deemed an admission that FEHI is the Section 16 beneficial owner of any such securities.
Represents 3,426,893, 13,367,709, 5,586,944 and 95,000 shares held directly by 21 April LP, 21 April Ltd., FEVIBM and the Separately Managed Accounts, respectively. FEHI disclaims Section 16 beneficial ownership of the shares held directly by the Funds except to the extent, if any, of its pecuniary interest therein, and this report shall not be deemed an admission that FEHI is the Section 16 beneficial owner of any such securities.