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:2/26/2017)... ... February 26, 2017 , ... ... technology standard in staffing, scheduling, and reporting for healthcare organizations. This comprehensive ... throughout the entire staffing process. StaffBridge technology improves staffing efficiency, maximizes resource ...
(Date:2/26/2017)... ... February 26, 2017 , ... ... receiving cognitive rehabilitation, according to a study released today at the 1st Pan ... rehabilitation programs are proven to be effective in improving cognitive function in PD ...
(Date:2/25/2017)... Viejo, CA (PRWEB) , ... February 25, 2017 , ... ... with ProSharpen Color tools from Pixel Film Studios. With ProSharpen Color users have total ... sliders to easily refine their color range. With color spectrum tools users can visually ...
(Date:2/24/2017)... ... February 24, 2017 , ... Houston dentist , Dr. ... Antoine Dental Center. Currently, patients can get single dental implants for $3,599 and ... can learn more about these offers by contacting Antoine Dental Center. Both of ...
(Date:2/24/2017)... ... 2017 , ... WHAT: , The New Jersey Tech Council, ... as advocacy for the state and region‘s technology businesses, hosted their 2017 Innovation ... Innovation Forecast event highlights innovation throughout the region from small to large companies. ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... Research and Markets has announced the addition of the "Global ... report to their offering. ... The Global Wireless Health Market is poised to ... to reach approximately $330.5 billion by 2025. This industry ... segments on global as well as regional levels presented in the ...
(Date:2/24/2017)... , Feb. 24, 2017 Research and Markets ... & Trends - Industry Forecast to 2025" report to their offering. ... The Global Empty Capsules ... the next decade to reach approximately $2.9 billion by 2025. ... the given segments on global as well as regional levels presented in ...
(Date:2/24/2017)... 24, 2017 Research and Markets has announced the ... 2016" report to their offering. ... The latest research Dry eye Drugs Price Analysis and Strategies ... eye market. The research answers the following questions: ... their clinical attributes? How are they positioned in the Global Dry eye ...
Breaking Medicine Technology: