Latest Dara Biosciences (DARA) Headlines DARA B
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Posted On: 03/12/2014 8:08:03 PM
Latest Dara Biosciences (DARA) Headlines
DARA BioSciences to Present at 26th Annual ROTH Conference
Marketwire - Thu Mar 06, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, today announced that David J. Drutz, M.D., DARA's Chief Executive Officer and Chief Medical Officer, is scheduled to present at the 26th Annual ROTH Conference. The conference is taking place March 9-12, 2014, at The Ritz-Carlton, Laguna Niguel, in Dana Point, Calif.
DARA BioSciences Signs Medicare Part D Prescription Drug Agreement With the WellCare(R) Group, Providing Approved Formulary Status for Soltamox(R)
Marketwire - Wed Mar 05, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, today announced that the Company signed a Medicare Part D Prescription Drug Program Reimbursement Agreement with Comprehensive Health Management, Inc. (CHMI) providing formulary status for the WellCare® Group of Companies for Soltamox® (tamoxifen citrate) oral solution, the only liquid form of tamoxifen, used for the treatment and prevention of breast cancer. Soltamox offers an option to patients who may prefer or need a liquid form of tamoxifen.
DARA BioSciences Observes Rare Disease Day
Marketwire - Thu Feb 27, 7:35AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced its support for raising awareness for Rare Disease Day which is being observed on February 28, 2014 and sponsored in the U.S. by the National Organization for Rare Disorders (NORD).
DARA BioSciences Regains Compliance With NASDAQ Bid Price Requirement
Marketwire - Tue Feb 25, 3:02PM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the Company received notice from the NASDAQ Listing Qualifications Staff that it has regained compliance with the minimum $1.00 bid price per share requirement. The previously disclosed NASDAQ delisting matter related to the Company's bid price compliance is now closed.
DARA BioSciences' KRN5500 Receives Orphan Drug Designation From FDA
Marketwire - Tue Feb 25, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, today announced the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to KRN5500 for the parenteral treatment of painful, chronic, chemotherapy-induced peripheral neuropathy that is refractory to conventional analgesics. KRN5500 is a novel, non-opioid, non-narcotic intravenous product currently in Phase 2 clinical development.
DARA BioSciences Announces Registered Direct Offering of $6.0 Million
Marketwire - Wed Feb 12, 7:31AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced that on February 11, 2014, DARA BioSciences, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain institutional investors providing for the issuance and sale by the Company in a registered direct offering of 2,166,501 shares (the "Shares") of the Company's common stock, par value $0.01 per share, at an offering price of $2.765 per share (the "Share Offering") for gross proceeds of approximately $6.0 million before deducting for placement agent fees and expenses. The Shares are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on March 25, 2011 and declared effective on April 19, 2011. A preliminary and final prospectus supplement and the accompanying prospectus relating to the Share Offering has been filed with the SEC, and a final prospectus supplement relating to the Share Offering will be filed with the SEC and will be available at the SEC's website located at www.sec.gov.
DARA BioSciences Announces Breast Cancer CAPTURE Registry Abstract Accepted for Poster Presentation at National Comprehensive Cancer Network(R) (NCCN(R)) 19th Annual Conference: Advancing the Standard of Cancer Care(TM)
Marketwire - Mon Feb 10, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that the Company's abstract entitled "CAPTURE (Compliance and Preference for Tamoxifen Registry) patient survey reveals potential strategies to improve long-term adherence to TAM based on choice: results of a large internet-based survey" has been accepted for poster presentation at the upcoming National Comprehensive Cancer Network® (NCCN®) 19th Annual Conference: Advancing the Standard of Cancer Care(TM) -- March 13 - 15, 2014 in Hollywood, FL.
DARA BioSciences Announces 1-for-5 Reverse Split
Marketwire - Thu Feb 06, 7:01AM CST
DARA BioSciences, Inc. (NASDAQ: DARA) ("DARA" or the "Company"), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that it is effecting a 1-for-5 reverse stock split of its issued and outstanding common stock which will be effective for trading purposes as of the commencement of trading on February 10, 2014. As of that date, each 5 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. In addition, at the market open on February 10, 2014, the common stock will trade under a new CUSIP number 23703P304 although the Company's ticker symbol, DARA, will remain unchanged.
DARA Reports 2013 Fourth Quarter and Full Year Financial Results and Commercial Business Update
Marketwire - Tue Feb 04, 6:10AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, announced today its financial results for the fourth quarter and full year ended December 31, 2013. The Company also provided a business update on its fourth quarter 2013 operational and commercial highlights.
10-K: DARA BIOSCIENCES, INC.
Edgar Online - Tue Feb 04, 6:02AM CST
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
DARA BioSciences to Present at 16th Annual BIO CEO & Investor Conference on Monday, February 10, 2014
Marketwire - Mon Feb 03, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced today that the Company will present at the 16th Annual BIO CEO & Investor Conference hosted by the Biotechnology Industry Organization (BIO) February 10-11, 2014 at the Waldorf Astoria in New York City.
DARA BioSciences Signs Pharmacy Supply Agreement With RainTree Oncology Services for Gelclair(R) and Soltamox(R)
Marketwire - Thu Jan 30, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that it has signed a pharmacy supply agreement with RainTree Oncology Services. This agreement is for both Gelclair®, an FDA-approved bioadherent oral rinse gel for treating the painful symptoms of oral mucositis (OM), and Soltamox® (tamoxifen citrate) oral liquid solution, to be accessible to RainTree's Nationwide Oncology Membership.
Nasdaq stocks posting largest volume increases
AP - Tue Jan 14, 5:03PM CST
NEW YORK (AP) — A look at the 10 biggest volume gainers on Nasdaq at the close of trading:
DARA BioSciences Completes Breast Cancer CAPTURE Registry
Marketwire - Tue Dec 03, 7:31AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced completion of CAPTURE (Compliance and Preference for Tamoxifen Registry).
DARA Reports Third Quarter 2013 Financial Results and Highlights Commercial Momentum on Synergistic Oncology Supportive Care Product Portfolio
Marketwire - Thu Nov 14, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA)
NASDAQ Grants DARA BioSciences 180-Day Extension to Regain Compliance With Bid Price Requirement
Marketwire - Tue Nov 12, 12:17PM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the NASDAQ Listing Qualifications Staff has granted the company's request for an additional 180-day period in which to regain compliance with the minimum $1.00 bid price per share requirement.
DARA BioSciences to Announce Third Quarter 2013 Financial Results and Corporate Business Update on November 14, 2013
Marketwire - Tue Nov 12, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the Company's management team will host a conference call and live audio webcast to provide a corporate business update and review third quarter 2013 financial results on Thursday, November 14, 2013 at 11:00 am ET.
DARA BioSciences Announces Sales Force Expansion and Agreement With Mission Pharmacal in the Oncology Market
Marketwire - Mon Oct 28, 7:02AM CDT
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced the signing of an agreement with Alamo Pharma Services, a subsidiary of Mission Pharmacal, for a twenty (20) person national sales team in the U.S. oncology market. Pursuant to the agreement and a shared sales force agreement with Mission, the Alamo sales team in addition to promoting Dara's products Soltamox® (tamoxifen citrate), Gelclair® and Bionect® will also carry three Mission Pharmacal products: Ferralet® 90 (for anemia), BINOSTO® (alendronate sodium effervescent tablet indicated for the treatment of osteoporosis), and Aquoral® (for chemotherapy/radiation therapy-induced dry mouth). The agreements with Alamo and Mission expand DARA's presence in oncology supportive care to address ongoing areas of unmet medical need.
DARA BioSciences Announces Registered Direct Offering of $2.55 Million
Marketwire - Tue Oct 22, 7:05AM CDT
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced that on October 22, 2013, DARA BioSciences, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain institutional investors providing for the issuance and sale by the Company in a registered direct offering of 5,100,000 shares (the "Shares") of the Company's common stock, par value $0.01 per share, at an offering price of $0.50 per share (the "Share Offering") for gross proceeds of $2,550,000 before deducting for placement agent fees and expenses. The Shares are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on March 25, 2011 and declared effective on April 19, 2011. A preliminary prospectus supplement and the accompanying prospectus relating to the Share Offering has been filed with the SEC, and a final prospectus supplement relating to the Share Offering will be filed with the SEC and will be available at the SEC's website located at www.sec.gov.
DARA BioSciences to Present at 26th Annual ROTH Conference
Marketwire - Thu Mar 06, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, today announced that David J. Drutz, M.D., DARA's Chief Executive Officer and Chief Medical Officer, is scheduled to present at the 26th Annual ROTH Conference. The conference is taking place March 9-12, 2014, at The Ritz-Carlton, Laguna Niguel, in Dana Point, Calif.
DARA BioSciences Signs Medicare Part D Prescription Drug Agreement With the WellCare(R) Group, Providing Approved Formulary Status for Soltamox(R)
Marketwire - Wed Mar 05, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, today announced that the Company signed a Medicare Part D Prescription Drug Program Reimbursement Agreement with Comprehensive Health Management, Inc. (CHMI) providing formulary status for the WellCare® Group of Companies for Soltamox® (tamoxifen citrate) oral solution, the only liquid form of tamoxifen, used for the treatment and prevention of breast cancer. Soltamox offers an option to patients who may prefer or need a liquid form of tamoxifen.
DARA BioSciences Observes Rare Disease Day
Marketwire - Thu Feb 27, 7:35AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced its support for raising awareness for Rare Disease Day which is being observed on February 28, 2014 and sponsored in the U.S. by the National Organization for Rare Disorders (NORD).
DARA BioSciences Regains Compliance With NASDAQ Bid Price Requirement
Marketwire - Tue Feb 25, 3:02PM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the Company received notice from the NASDAQ Listing Qualifications Staff that it has regained compliance with the minimum $1.00 bid price per share requirement. The previously disclosed NASDAQ delisting matter related to the Company's bid price compliance is now closed.
DARA BioSciences' KRN5500 Receives Orphan Drug Designation From FDA
Marketwire - Tue Feb 25, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, today announced the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to KRN5500 for the parenteral treatment of painful, chronic, chemotherapy-induced peripheral neuropathy that is refractory to conventional analgesics. KRN5500 is a novel, non-opioid, non-narcotic intravenous product currently in Phase 2 clinical development.
DARA BioSciences Announces Registered Direct Offering of $6.0 Million
Marketwire - Wed Feb 12, 7:31AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced that on February 11, 2014, DARA BioSciences, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain institutional investors providing for the issuance and sale by the Company in a registered direct offering of 2,166,501 shares (the "Shares") of the Company's common stock, par value $0.01 per share, at an offering price of $2.765 per share (the "Share Offering") for gross proceeds of approximately $6.0 million before deducting for placement agent fees and expenses. The Shares are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on March 25, 2011 and declared effective on April 19, 2011. A preliminary and final prospectus supplement and the accompanying prospectus relating to the Share Offering has been filed with the SEC, and a final prospectus supplement relating to the Share Offering will be filed with the SEC and will be available at the SEC's website located at www.sec.gov.
DARA BioSciences Announces Breast Cancer CAPTURE Registry Abstract Accepted for Poster Presentation at National Comprehensive Cancer Network(R) (NCCN(R)) 19th Annual Conference: Advancing the Standard of Cancer Care(TM)
Marketwire - Mon Feb 10, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that the Company's abstract entitled "CAPTURE (Compliance and Preference for Tamoxifen Registry) patient survey reveals potential strategies to improve long-term adherence to TAM based on choice: results of a large internet-based survey" has been accepted for poster presentation at the upcoming National Comprehensive Cancer Network® (NCCN®) 19th Annual Conference: Advancing the Standard of Cancer Care(TM) -- March 13 - 15, 2014 in Hollywood, FL.
DARA BioSciences Announces 1-for-5 Reverse Split
Marketwire - Thu Feb 06, 7:01AM CST
DARA BioSciences, Inc. (NASDAQ: DARA) ("DARA" or the "Company"), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that it is effecting a 1-for-5 reverse stock split of its issued and outstanding common stock which will be effective for trading purposes as of the commencement of trading on February 10, 2014. As of that date, each 5 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. In addition, at the market open on February 10, 2014, the common stock will trade under a new CUSIP number 23703P304 although the Company's ticker symbol, DARA, will remain unchanged.
DARA Reports 2013 Fourth Quarter and Full Year Financial Results and Commercial Business Update
Marketwire - Tue Feb 04, 6:10AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, announced today its financial results for the fourth quarter and full year ended December 31, 2013. The Company also provided a business update on its fourth quarter 2013 operational and commercial highlights.
10-K: DARA BIOSCIENCES, INC.
Edgar Online - Tue Feb 04, 6:02AM CST
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
DARA BioSciences to Present at 16th Annual BIO CEO & Investor Conference on Monday, February 10, 2014
Marketwire - Mon Feb 03, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced today that the Company will present at the 16th Annual BIO CEO & Investor Conference hosted by the Biotechnology Industry Organization (BIO) February 10-11, 2014 at the Waldorf Astoria in New York City.
DARA BioSciences Signs Pharmacy Supply Agreement With RainTree Oncology Services for Gelclair(R) and Soltamox(R)
Marketwire - Thu Jan 30, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced that it has signed a pharmacy supply agreement with RainTree Oncology Services. This agreement is for both Gelclair®, an FDA-approved bioadherent oral rinse gel for treating the painful symptoms of oral mucositis (OM), and Soltamox® (tamoxifen citrate) oral liquid solution, to be accessible to RainTree's Nationwide Oncology Membership.
Nasdaq stocks posting largest volume increases
AP - Tue Jan 14, 5:03PM CST
NEW YORK (AP) — A look at the 10 biggest volume gainers on Nasdaq at the close of trading:
DARA BioSciences Completes Breast Cancer CAPTURE Registry
Marketwire - Tue Dec 03, 7:31AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care specialty pharmaceutical company dedicated to providing healthcare professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatments, announced completion of CAPTURE (Compliance and Preference for Tamoxifen Registry).
DARA Reports Third Quarter 2013 Financial Results and Highlights Commercial Momentum on Synergistic Oncology Supportive Care Product Portfolio
Marketwire - Thu Nov 14, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA)
NASDAQ Grants DARA BioSciences 180-Day Extension to Regain Compliance With Bid Price Requirement
Marketwire - Tue Nov 12, 12:17PM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the NASDAQ Listing Qualifications Staff has granted the company's request for an additional 180-day period in which to regain compliance with the minimum $1.00 bid price per share requirement.
DARA BioSciences to Announce Third Quarter 2013 Financial Results and Corporate Business Update on November 14, 2013
Marketwire - Tue Nov 12, 7:05AM CST
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, announced today that the Company's management team will host a conference call and live audio webcast to provide a corporate business update and review third quarter 2013 financial results on Thursday, November 14, 2013 at 11:00 am ET.
DARA BioSciences Announces Sales Force Expansion and Agreement With Mission Pharmacal in the Oncology Market
Marketwire - Mon Oct 28, 7:02AM CDT
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced the signing of an agreement with Alamo Pharma Services, a subsidiary of Mission Pharmacal, for a twenty (20) person national sales team in the U.S. oncology market. Pursuant to the agreement and a shared sales force agreement with Mission, the Alamo sales team in addition to promoting Dara's products Soltamox® (tamoxifen citrate), Gelclair® and Bionect® will also carry three Mission Pharmacal products: Ferralet® 90 (for anemia), BINOSTO® (alendronate sodium effervescent tablet indicated for the treatment of osteoporosis), and Aquoral® (for chemotherapy/radiation therapy-induced dry mouth). The agreements with Alamo and Mission expand DARA's presence in oncology supportive care to address ongoing areas of unmet medical need.
DARA BioSciences Announces Registered Direct Offering of $2.55 Million
Marketwire - Tue Oct 22, 7:05AM CDT
DARA BioSciences, Inc. (NASDAQ: DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to therapy and manage side effects arising from cancer treatment, today announced that on October 22, 2013, DARA BioSciences, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain institutional investors providing for the issuance and sale by the Company in a registered direct offering of 5,100,000 shares (the "Shares") of the Company's common stock, par value $0.01 per share, at an offering price of $0.50 per share (the "Share Offering") for gross proceeds of $2,550,000 before deducting for placement agent fees and expenses. The Shares are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission on March 25, 2011 and declared effective on April 19, 2011. A preliminary prospectus supplement and the accompanying prospectus relating to the Share Offering has been filed with the SEC, and a final prospectus supplement relating to the Share Offering will be filed with the SEC and will be available at the SEC's website located at www.sec.gov.
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