organization · Reporting owner

21 APRIL FUND, L.P.

Disclosed activity across 2 companies

Tapewire entity: 156513
SEC CIK: 0001459688

Reported relationships

Latest disclosed role at each company.

Company	Last reported as	Report date	Published
ARADIGM CORPARDM · Entity 155143	10% owner	May 01, 2019	May 03, 2019
DURECT CORPDRRX · Entity 75335	10% owner	June 20, 2019	June 24, 2019

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

ARADIGM CORP

Report date May 01, 2019 · Filed May 03, 2019

Jointly reported with First Eagle Investment Management, LLC, 21 APRIL FUND, LTD., First Eagle Value in Biotechnology Master Fund, Ltd.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
9.0% Senior Convertible Notes due 2021SEC Table II · derivative / convertible security · Expires 2021-04-30	IndirectSee footnotes	3,362,072	Reported balance After 2019-05-01 transaction · row 1 Instrument identity requires review; Table II rows are not merged. 1 source row Row 1 · 2019-05-01 · Other · Acquired 85,997 · Balance 3,362,072 F1: See Exhibit 99.1. F4: See Exhibit 99.1. F5: See Exhibit 99.1. F7: See Exhibit 99.1. F6: See Exhibit 99.1. F2: See Exhibit 99.1. F3: See Exhibit 99.1.

Filing footnotes · ownership attribution and instrument terms

F1: See Exhibit 99.1.

F2: See Exhibit 99.1.

F3: See Exhibit 99.1.

F4: See Exhibit 99.1.

F5: See Exhibit 99.1.

F6: See Exhibit 99.1.

F7: See Exhibit 99.1.

DURECT CORP

Report date June 20, 2019 · Filed June 24, 2019

Jointly reported with First Eagle Investment Management, LLC, 21 APRIL FUND, LTD., First Eagle Value in Biotechnology Master Fund, Ltd., First Eagle Holdings, Inc.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common StockSEC Table I · non-derivative	IndirectSee Footnote	26,476,546	Reported balance After 2019-06-20 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes. 1 source row Row 1 · 2019-06-20 · Purchase · Acquired 4,000,000 · Balance 26,476,546 F1: 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. F2: Pursuant to a prospectus supplement, dated June 20, 2019, DURECT Corporation (the "Company") offered 29,000,000 shares of its common stock, par value $0.0001 per share (the "Common Stock") to certain investors of the Company. Pursuant to the terms that certain Securities Purchase Agreement, dated June 20, 2019, by and among the Company, April LP, April Ltd. and certain other persons, April LP and April Ltd purchased an aggregate of 4,000,000 shares of the Common Stock of the 29,000,000 made available in the offering at a price of $0.52 per share. The 4,000,000 shares of Common Stock represent 1,300,000 shares of Common Stock directly held by April LP and 2,700,000 shares of Common Stock directly held by April Ltd. F3: Represents 4,726,893, 16,067,709, 5,586,944 and 95,000 shares of Common Stock held directly by 21 April LP, 21 April Ltd., FEVIBM and certain separately managed accounts, including accounts for which FEIM serves as registered investment adviser (the "Separately Managed Accounts"), respectively. F4: 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) the investment adviser to certain of the Separately Managed Accounts. FEHI disclaims beneficial ownership of the shares of Common Stock 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 beneficial owner of any such securities.

Filing footnotes · ownership attribution and instrument terms

F1: 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.

F2: Pursuant to a prospectus supplement, dated June 20, 2019, DURECT Corporation (the "Company") offered 29,000,000 shares of its common stock, par value $0.0001 per share (the "Common Stock") to certain investors of the Company. Pursuant to the terms that certain Securities Purchase Agreement, dated June 20, 2019, by and among the Company, April LP, April Ltd. and certain other persons, April LP and April Ltd purchased an aggregate of 4,000,000 shares of the Common Stock of the 29,000,000 made available in the offering at a price of $0.52 per share. The 4,000,000 shares of Common Stock represent 1,300,000 shares of Common Stock directly held by April LP and 2,700,000 shares of Common Stock directly held by April Ltd.

F3: Represents 4,726,893, 16,067,709, 5,586,944 and 95,000 shares of Common Stock held directly by 21 April LP, 21 April Ltd., FEVIBM and certain separately managed accounts, including accounts for which FEIM serves as registered investment adviser (the "Separately Managed Accounts"), respectively.

F4: 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) the investment adviser to certain of the Separately Managed Accounts. FEHI disclaims beneficial ownership of the shares of Common Stock 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 beneficial owner of any such securities.

Transaction history

JSON API

Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction date	Company	Activity / security	Shares / units	Reported price	Reported value	Details
June 20, 2019 Filed Jun 24, 2019 14:12 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	4,000,000	$0.52	$2,080,000.00	Disclosure SEC source: 0001567619-19-013856 · doc1.xml · nonDerivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote Disclosed balance after: 26,476,546 F1 · security: 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. F2 · shares: Pursuant to a prospectus supplement, dated June 20, 2019, DURECT Corporation (the "Company") offered 29,000,000 shares of its common stock, par value $0.0001 per share (the "Common Stock") to certain investors of the Company. Pursuant to the terms that certain Securities Purchase Agreement, dated June 20, 2019, by and among the Company, April LP, April Ltd. and certain other persons, April LP and April Ltd purchased an aggregate of 4,000,000 shares of the Common Stock of the 29,000,000 made available in the offering at a price of $0.52 per share. The 4,000,000 shares of Common Stock represent 1,300,000 shares of Common Stock directly held by April LP and 2,700,000 shares of Common Stock directly held by April Ltd. F3 · balance_after: Represents 4,726,893, 16,067,709, 5,586,944 and 95,000 shares of Common Stock held directly by 21 April LP, 21 April Ltd., FEVIBM and certain separately managed accounts, including accounts for which FEIM serves as registered investment adviser (the "Separately Managed Accounts"), respectively. F4 · ownership.nature: 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) the investment adviser to certain of the Separately Managed Accounts. FEHI disclaims beneficial ownership of the shares of Common Stock 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 beneficial owner of any such securities. Read SEC document
May 01, 2019 Filed May 3, 2019 16:30 UTC	ARADIGM CORP ARDM · Entity 155143	Other9.0% Senior Convertible Notes due 2021 · Derivative	85,997	$0.00	$0.00	Disclosure SEC source: 0001567619-19-009760 · doc1.xml · derivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See footnotes Disclosed balance after: 3,362,072 Underlying: Common Stock · 16,505 shares Expires 2021-04-30 F1 · security: See Exhibit 99.1. F4 · security: See Exhibit 99.1. F5 · derivative.exercise_price: See Exhibit 99.1. F7 · kind: See Exhibit 99.1. F5 · shares: See Exhibit 99.1. F7 · shares: See Exhibit 99.1. F6 · derivative.exercise_date: See Exhibit 99.1. F5 · derivative.underlying_shares: See Exhibit 99.1. F5 · balance_after: See Exhibit 99.1. F2 · ownership.nature: See Exhibit 99.1. F3 · ownership.nature: See Exhibit 99.1. Read SEC document
November 01, 2018 Filed Nov 5, 2018 13:52 UTC	ARADIGM CORP ARDM · Entity 155143	Other9.0% Senior Convertible Notes due 2021 · Derivative	141,076	Not disclosed	Not disclosed	Disclosure SEC source: 0001567619-18-005067 · doc1.xml · derivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See footnotes Disclosed balance after: 3,276,076 Underlying: Common Stock · 27,076 shares Expires 2021-04-30 F1 · security: See Exhibit 99.1. F4 · security: See Exhibit 99.1. F5 · derivative.exercise_price: See Exhibit 99.1. F7 · kind: See Exhibit 99.1. F5 · shares: See Exhibit 99.1. F7 · shares: See Exhibit 99.1. F7 · price: See Exhibit 99.1. F6 · derivative.exercise_date: See Exhibit 99.1. F5 · derivative.underlying_shares: See Exhibit 99.1. F5 · balance_after: See Exhibit 99.1. F2 · ownership.nature: See Exhibit 99.1. F3 · ownership.nature: See Exhibit 99.1. Read SEC document
May 01, 2018 Filed May 2, 2018 16:45 UTC	ARADIGM CORP ARDM · Entity 155143	Other9.0% Senior Convertible Notes due 2021 · Derivative	25,913	Not disclosed	Not disclosed	Disclosure SEC source: 0001140361-18-021276 · doc1.xml · derivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See footnotes Disclosed balance after: 3,135,000 Underlying: Common Stock · 601,728 shares Expires 2021-04-30 F1 · security: See Exhibit 99.1 F4 · security: See Exhibit 99.1 F5 · derivative.exercise_price: See Exhibit 99.1 F7 · kind: See Exhibit 99.1 F7 · shares: See Exhibit 99.1 F7 · price: See Exhibit 99.1 F6 · derivative.exercise_date: See Exhibit 99.1 F5 · derivative.underlying_shares: See Exhibit 99.1 F5 · balance_after: See Exhibit 99.1 F2 · ownership.nature: See Exhibit 99.1 F3 · ownership.nature: See Exhibit 99.1 Read SEC document
February 01, 2018 Filed Feb 2, 2018 17:33 UTC	ARADIGM CORP ARDM · Entity 155143	OtherCommon Stock	479,477	Not disclosed	Not disclosed	Disclosure SEC source: 0001140361-18-004826 · doc1.xml · nonDerivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote Disclosed balance after: 4,210,186 F1 · security: 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. F2 · price: As of February 1, 2018, certain separately managed accounts terminated their relationship with, and are no longer advised by, FEIM. The positions held in such accounts are therefore no longer included herein. F2 · acquired: As of February 1, 2018, certain separately managed accounts terminated their relationship with, and are no longer advised by, FEIM. The positions held in such accounts are therefore no longer included herein. F3 · ownership.nature: 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. Read SEC document
December 02, 2016 Filed Dec 6, 2016 17:13 UTC	ARADIGM CORP ARDM · Entity 155143	PurchaseWarrants to purchase Common Stock (right to buy) · Derivative	259,117	$5.21 Strike: $5.21	$1,349,999.57	Disclosure SEC source: 0001140361-16-088916 · doc1.xml · derivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnotes Disclosed balance after: 259,117 Underlying: Common Stock · 259,117 shares Expires 2021-07-14 F1 · security: See Exhibit 99.1. F2 · derivative.exercise_price: See Exhibit 99.1. F3 · shares: See Exhibit 99.1. F2 · price: See Exhibit 99.1. F4 · derivative.exercise_date: See Exhibit 99.1. F3 · derivative.underlying_shares: See Exhibit 99.1. F3 · balance_after: See Exhibit 99.1. F5 · ownership.nature: See Exhibit 99.1. F6 · ownership.nature: See Exhibit 99.1. Read SEC document
November 03, 2016 Filed Nov 4, 2016 15:43 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	20,000	$1.14	$22,800.00	Disclosure SEC source: 0001140361-16-084885 · doc1.xml · nonDerivative · entry 3 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote Disclosed balance after: 22,476,546 F2 · shares: 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"). F3 · balance_after: 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. F6 · ownership.nature: 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. Read SEC document
November 03, 2016 Filed Nov 4, 2016 15:43 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	25,000	$1.14	$28,497.50	Disclosure SEC source: 0001140361-16-084885 · doc1.xml · nonDerivative · entry 2 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote Disclosed balance after: 22,456,546 F2 · shares: 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"). F3 · balance_after: 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. F5 · ownership.nature: 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. Read SEC document
November 03, 2016 Filed Nov 4, 2016 15:43 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	50,000	$1.18	$59,000.00	Disclosure SEC source: 0001140361-16-084885 · doc1.xml · nonDerivative · entry 1 First Eagle Investment Management, LLC · CIK 0001325447 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote Disclosed balance after: 22,431,546 F1 · security: 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. F2 · shares: 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"). F3 · balance_after: 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. F4 · ownership.nature: 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. Read SEC document
September 26, 2016 Filed Sep 28, 2016 12:47 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	200,000	$1.15	$230,000.00	Disclosure SEC source: 0001140361-16-080886 · doc1.xml · nonDerivative · entry 3 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 22,381,546 F5 · shares: Represents 40,809 and 159,191 shares purchased by 21 April LP and 21 April Ltd., 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. F6 · ownership.direct: Represents 3,426,893, 13,367,709, and 5,586,944 shares held directly by 21 April LP, 21 April Ltd. and FEVIBM, 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. Read SEC document
September 26, 2016 Filed Sep 28, 2016 12:47 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	318,776	$1.10	$350,653.60	Disclosure SEC source: 0001140361-16-080886 · doc1.xml · nonDerivative · entry 2 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 22,181,546 F3 · shares: Represents 63,678 and 255,098 shares purchased by 21 April LP and 21 April Ltd., 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. F4 · ownership.direct: Represents 3,386,084, 13,208,518, and 5,586,944 shares held directly by 21 April LP, 21 April Ltd. and FEVIBM, 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. Read SEC document
September 26, 2016 Filed Sep 28, 2016 12:47 UTC	DURECT CORP DRRX · Entity 75335	PurchaseCommon Stock	1,981,224	$1.16	$2,298,219.84	Disclosure SEC source: 0001140361-16-080886 · doc1.xml · nonDerivative · entry 1 21 APRIL FUND, LTD. · CIK 0001459708 · 10% owner 21 APRIL FUND, L.P. · CIK 0001459688 · 10% owner First Eagle Value in Biotechnology Master Fund, Ltd. · CIK 0001457518 · 10% owner First Eagle Holdings, Inc. · CIK 0001637141 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 21,862,770 F1 · shares: Represents 259,957 and 1,721,267 shares purchased by 21 April Fund, LP ("21 April LP") and 21 April Fund, Ltd. ("21 April Ltd."), respectively. First Eagle Investment Management, LLC ("FEIM") is (i) a general partner of 21 April LP, (ii) the registered investment adviser to First Eagle Value in Biotechnology Master Fund, Ltd. "FEVIBM" as well as to 21 April LP and 21 April Ltd. (collectively, the "Funds") and (iii) a subsidiary of First Eagle Holdings, Inc. ("FEHI"). 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. F2 · ownership.direct: Represents 3,322,406, 12,953,420, and 5,586,944 shares held directly by 21 April LP, 21 April Ltd. and FEVIBM, 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. Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.