DURECT Corporation (DRRX) is a speculative biotech that has a lot of long-term potential. I'm basing that on several promising programs from its pipeline. There is a near-term catalyst as it involves POSIMIR, which is being used to treat postoperative pain. The FDA is currently reviewing the drug, in light of an advisory panel that had already been convened. There is no guarantee that POSIMIR will be approved for postoperative pain. However, I believe that even if the drug fails to gain approval again, there are many other indications in the pipeline. Specifically,