Durect submits new drug application for Remoxy

The company submitted a new drug application to the U.S. Food and Drug Administration to use Remoxy, an investigational drug, as a long-acting oral form of oxycodone, as a treatment for moderate to severe pain.

Remoxy is designed to resist common methods of prescription drug misuse and abuse.

Remoxy has "the potential to be the first oxycodone on the market that deters common methods of abuse," said company Chief Executive James E. Brown in a statement.

Shares of Durect fell a penny to close at $4.21.