On March 3, 2022, DURECT Corporation announced that Michael Arenberg will step down from his role as the Company's Chief Financial Officer, effective March 17, 2022, to pursue another opportunity in an operating role. The Company has initiated a search to identify a new Chief Financial Officer. Matt Hogan, the Company's former Chief Financial Officer from 2006-2018, who has continued to serve DURECT as a corporate finance advisor since 2018, will support the Company while the Company conducts its search for Mr. Arenberg's replacement.

Until a permanent replacement for Mr. Arenberg has been named, Jian Li will serve as the Company's interim Principal Accounting Officer. Ms. Li has served as the Company's Vice President, Finance and Corporate Controller since December 2003. She is also a certified public accountant and a member of the American Institute of Certified Public Accountants.