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DARA BioSciences, Inc. Reports Financial Results for the Third Quarter 2012
11/15/2012 9:57:35 AM
RALEIGH, N.C.--(BUSINESS WIRE)--DARA BioSciences, Inc. (NASDAQ: DARA), a specialty pharmaceutical company focused on oncology and oncology supportive care products, and owner of exclusive U.S. marketing rights to Soltamox®, a novel oral liquid formulation of tamoxifen citrate, announced today financial results for the third quarter ended September 30, 2012 in its Quarterly Report on Form 10-Q. For the three months ended September 30, 2012, DARA reported a net loss attributable to common stockholders of $1,983,372, or ($0.16) per share as compared to a net loss of $921,478, or ($0.18) per share for the same period in 2011. The increase in loss was primarily a result of the costs incurred in establishment of a sales and marketing infrastructure to support the promotion of the Company's oncology and oncology supportive care products as well as an increase in general and administrative expenses. As of September 30, 2012, cash and cash equivalents totaled $8,259,476 and marketable securities totaled $788,574.
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