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Stock Market & Financial Investment News

News Breaks
December 31, 2012
08:35 EDTDARADara BioSciences to raise $2.8M in sale of convertible preferred stock, warrants
DARA BioSciences announced that it entered into a definitive securities purchase agreement with certain investors providing for the issuance of $2,800,000 of shares of Series B-3 and Series B-4 convertible preferred stock, convertible into a combined total of 3,684,210 shares of common stock, two and one half year warrants to purchase up to 1,842,105 shares of common stock at an exercise price of $1.05 and five and one half year warrants to purchase up to 1,842,105 shares of common stock at an exercise price of $1.05. None of the warrants are exercisable for six months from the initial issuance date. The Series B-3 and Series B-4 convertible preferred stock is convertible at any time into shares of common stock at an initial conversion price of $0.76 per share. The company said the financing will provide additional capital for the commercial activities related to Soltamox, its FDA-approved treatment for breast cancer, and for Gelclair, its FDA-cleared product for the treatment of oral mucositis, which it expects to launch in the first quarter of 2013. The company expects that with this additional funding it will have enough cash to effectively execute its commercial plan and believes that this raise alleviates its need for additional financing in 2013. The closing of the sale of the securities is expected to take place on or about December 31.
News For DARA From The Last 14 Days
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May 19, 2015
14:39 EDTDARADara BioSciences granted additional 180-day period to regain NASDAQ compliance
On May 19, DARA BioSciences received a notification letter from the Listing Qualifications Department of The NASDAQ Stock Market indicating that the NASDAQ Listing Qualifications Staff has granted the company's request for an additional 180-day period in which to regain compliance with the minimum $1.00 bid price per share requirement. The NASDAQ Listing Qualifications Staff's determination to grant the additional 180 day compliance period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the bid price requirement, and the Company's written notice of its intention to cure the deficiency during the additional 180-day compliance period by effecting a reverse stock split, if necessary.

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