DARA BioSciences, Inc. Regains Compliance With NASDAQ $1.00 Minimum Bid Price Rule
2/14/2013 9:55:24 AM
RALEIGH, N.C.--(BUSINESS WIRE)--DARA BioSciences, Inc. (NASDAQ: DARA), a specialty pharmaceutical company focused on oncology and oncology supportive care products, announced today that on February 12, 2013, NASDAQ notified the Company that it has regained compliance with Rule 5550(a)(2), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Stock Market (the “Minimum Bid Price Rule”). Commenting on the announcement, David J. Drutz, MD, DARA's chief executive officer, stated "We are pleased to announce that we have regained compliance with NASDAQ’s minimum bid price rule. Management will continue to pursue its objective of maximizing shareholder value with the primary goal of becoming a leading oncology and oncology supportive care company in the United States. Our commercial plans remain on target and we are excited about the recent launch of Soltamox® in late 2012 and the expected launch of Gelclair® in early 2013."