RALEIGH, N.C., Nov. 11, 2010 (GLOBE NEWSWIRE) -- DARA BioSciences, Inc. (Nasdaq:DARA) today announced that a NASDAQ Listing Qualifications Panel (the "Panel") has granted the Company's request for an extension of time, as permitted under NASDAQ's Listing Rules, to comply with the $2.5 million stockholders' equity requirement for continued listing on The NASDAQ Capital Market. In accordance with the Panel's decision, on or before December 31, 2010, the Company must notify the Panel that it has regained compliance with the $2.5 million stockholders' equity requirement, and thereafter, on or before February 14, 2011, the Company must file a Form 8-K with the Securities and Exchange Commission evidencing its compliance with the $2.5 million stockholders' equity requirement as of December 31, 2010, among other things. Under NASDAQ's rules, February 14, 2011, represents the maximum length of time that a Panel may grant the Company to regain compliance.
