RALEIGH, N.C., March 19, 2010 (GLOBE NEWSWIRE) -- On March 16, 2010, DARA BioSciences, Inc. (Nasdaq:DARA) received notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company had not timely regained compliance with the $1.00 bid price requirement, as set forth in Listing Rule 5550(a)(2). DARA plans to timely request a hearing before a NASDAQ Listing Qualifications Panel (the “Panel”), at which it will request the continued listing of its securities on The NASDAQ Capital Market pending the completion of its plan to evidence compliance with the minimum bid price requirement. As such, the Staff’s determination has no impact on the Company’s listing at this time.
