Matthew J. Hogan joined DURECT from Ciphergen Biosystems, where he was the chief financial officer from 2000 to 2006 and a consultant from March 2006. Prior to joining Ciphergen, Mr. Hogan was the chief financial officer at Avocet Medical from 1999 to 2000. From 1996 to 1999, Mr. Hogan was the chief financial officer at Microcide Pharmaceuticals From 1986 to 1996, he held various positions in the investment banking group at Merrill Lynch & Co., most recently as a director focusing on the biotechnology and pharmaceutical sectors. Mr. Hogan holds a B.A. in economics from Dartmouth College and an M.B.A. from the Amos Tuck School of Business Administration.