RALEIGH, N.C., Aug. 14, 2008 (PRIME NEWSWIRE) -- DARA BioSciences, Inc. (Nasdaq:DARA) reported today that it expects to restate its financial statements for the quarter ended March 31, 2008, to reflect the reclassification of certain shares representing an investment as available-for-sale. As a result of this reclassification these shares will be valued at fair value at the balance sheet date, instead of at cost. The restatement is expected to increase the value of these shares as reflected on the balance sheet as of March 31, 2008, by approximately $2,196,000, and also add other accumulated comprehensive income to the balance sheet in the same amount. The restatement is not expected to have an impact on any other balance sheet or income statement items.
