Navigation Links
DARA BioSciences, Inc. and Point Therapeutics, Inc. Announce Consummation of Merger
Date:2/12/2008

RALEIGH, N.C. and WELLESLEY HILLS, Mass., Feb. 12 /PRNewswire/ -- DARA BioSciences, Inc. ("DARA") and Point Therapeutics, Inc. ("Point") (Nasdaq: POTP) announced the consummation of their merger transaction, effective as of the close of business on February 12, 2008.

The merger was completed after approval by the respective stockholders of DARA and Point. Immediately prior to the consummation of the merger, Point effected a reverse stock split of its common stock pursuant to which each 40 shares of Point common stock issued and outstanding was converted into one share of Point common stock. As a result of the merger, DARA stockholders will receive 1.031406 shares of Point common stock for each share of DARA common stock and preferred stock held immediately prior to the transaction.

In making the announcement, DARA's Chairman Richard A. Franco, Sr., commented, "We are pleased to have completed this transaction and appreciate the confidence of the stockholders of DARA and Point as evidenced by their votes."

Upon consummation of the merger, DARA became a wholly-owned subsidiary of Point, and Point changed its name to DARA BioSciences, Inc. The combined company's common stock will continue to trade on the NASDAQ Capital Market under the symbol "DARA ". Additionally, the Board of Directors and executive officers of DARA will lead the combined company.

About DARA BioSciences, Inc.

DARA BioSciences(TM), Inc. ("DARA") is a Raleigh, North Carolina-based development-stage pharmaceutical company that acquires promising therapeutic molecules and medical technologies directly or through investment in established companies. DARA focuses its therapeutic development efforts on small molecules from late preclinical development through phase 2 clinical trials. DARA is developing a portfolio of therapeutic candidates for neuropathic pain, metabolic diseases including type 2 diabetes, and dermatological disorders. DARA has licensed promising drug development candidates from Kirin Pharmaceuticals of Japan, Bayer Pharmaceuticals Corporation, Massachusetts General Hospital and Nuada LLC.

As of February 13, 2008, DARA will trade on the NASDAQ Capital Market under the ticker symbol "DARA".

For more information please contact the Company at 919-872-5578 or visit our web site at http://www.darabiosciences.com.


'/>"/>
SOURCE DARA BioSciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Pressure BioSciences, Inc. Reports Third Quarter 2007 Financial Results and Provides Business Update
2. Pressure BioSciences, Inc. to Discuss Third Quarter Financial Results and Provide Business Update
3. Akers Biosciences, Inc. ABI or the Company Receipt of Further United States Military Contracts
4. Jill Birkett Appointed Event Director for HBA Global Expo
5. USHEALTH Group Announces Appointment of Executive Vice President
6. ScienceBased Health Appoints Anne L. Coleman, MD, PhD to Scientific Advisory Board
7. Protalix BioTherapeutics Appoints Professor Roger D. Kornberg to Board of Directors
8. AMN Healthcare Appoints Hala Moddelmog to Its Board of Directors
9. Natural Alternatives International, Inc. Appoints New Chief Financial Officer
10. Deerfield Spa Appoints New Fitness Director
11. Memory Pharmaceuticals Appoints Vaughn M. Kailian Interim President & Chief Executive Officer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... Viejo, California (PRWEB) , ... June 27, 2016 , ... ... are fully customizable inside of Final Cut Pro X," said Christina Austin - CEO ... another unique style. Final Cut Pro X users can now reveal the ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... strategic partnership with Connance, a healthcare industry leader providing predictive analytics to ... technology combine to provide health systems, hospitals and ambulatory surgical centers with ...
(Date:6/27/2016)... Overland Park, KS (PRWEB) , ... June 27, 2016 , ... ... leader in retailers of Eyeglasses . , Millions of individuals in the United ... life, eyeglasses have become a way to both correct vision and make a fashion ...
(Date:6/26/2016)... ... 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a holistic ... World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. ... some of the world’s leading providers of cereal and other breakfast foods. Its residents ...
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements ... that was developed to enhance the health of felines. The formula is all-natural and ... main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews are ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) ... Improvements Act of 1976, as amended ("HSR"), with respect ... Nasdaq: CPXX ) expired effective June 24, ... As previously announced on May 31, 2016, Jazz Pharmaceuticals ... which Jazz Pharmaceuticals has commenced a tender offer for ...
(Date:6/24/2016)... HILL, N.C. , June 24, 2016 /PRNewswire/ ... healthcare decisions and regulators/payers have placed more emphasis ... new environment, patient support programs in the pharmaceutical ... for patients, medications. Consequently, pharmaceutical companies are focusing ... ensure they are providing products and services that ...
(Date:6/24/2016)... CAMBRIDGE, Mass. , June 24, 2016 /PRNewswire/ ... the Spaulding Rehabilitation Network,s Dean Center for ... of Physical Medicine and Rehabilitation, MIT Hacking Medicine, ... Center for Innovation, today announced the five finalists ... Hackathon for Lyme disease.  More than 100 scientists, ...
Breaking Medicine Technology: