DARA BioSciences Closes $10.25 Million Public Offering and Regains Compliance With NASDAQ's Stockholders' Equity Requirement

DARA BioSciences Closes $10.25 Million Public Offering and Regains Compliance
With NASDAQ's Stockholders' Equity Requirement

Funds Earmarked for Pending Commercial Launches of Bionect and Soltamox and
Working Capital

RALEIGH, N.C., May 1, 2012 (GLOBE NEWSWIRE) -- DARA BioSciences, Inc.
(Nasdaq:DARA) (the "Company" or "DARA") announced that at a closing completed
on April 26, 2012, it received $10,250,000 in gross proceeds from the sale of
Series B-2 convertible preferred stock (convertible into a total of 10,250,000
shares of common stock) and warrants to purchase an equal number of shares of
common stock.

Dr. David J. Drutz, Chief Executive Officer, commented, "We are pleased to
have consummated this financing and to have regained compliance with NASDAQ
listing requirements. This financing will provide capital for the commercial
launches of Soltamox^®, our FDA-approved treatment for breast cancer, and
Bionect^®, our 510(k) FDA-cleared treatment for radiation skin damage in the
oncology setting. Funds will also be used for general corporate purposes."

Ladenburg Thalmann & Co., Inc., a subsidiary of Ladenburg Thalmann Financial
Services Inc. (NYSE Amex:LTS), acted as the exclusive placement agent for this

On November 17, 2011, DARA received notice from the Listing Qualifications
Staff of The NASDAQ Stock Market LLC (the "Staff") indicating that the Company
did not satisfy the minimum stockholders' equity requirement and that its
securities were therefore subject to delisting. The Company appealed the
Staff's determination and appeared before a NASDAQ Listing Qualifications
Panel on January 19, 2012, resulting in an extension to mid-April to meet
NASDAQ listing requirements.

Subsequent to the consummation of the financing, on April 20, 2012, DARA was
notified by NASDAQ that it had regained compliance with the minimum
stockholders' equity requirement for continued listing on The NASDAQ Capital
Market, as set forth in NASDAQ Listing Rule 5550(b)(1).

The securities were offered pursuant to an effective registration statement.
This news release does not constitute an offer to sell these securities or a
solicitation of an offer to buy these securities, nor shall there be any sale
of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About DARA BioSciences, Inc.

DARA is a specialty pharmaceutical company focused on the development and
commercialization of oncology treatment and supportive care products. DARA
holds the exclusive U.S. marketing rights to Soltamox^®, a novel oral liquid
formulation of tamoxifen, a product used widely in the treatment and
prevention of breast cancer. Soltamox^® is the only FDA approved oral liquid
version of tamoxifen and fulfills a vital clinical need for patients who
cannot tolerate existing tablet formulations of this drug. DARA plans to begin
marketing Soltamox^® in the U.S. in the third quarter of 2012.

DARA has also obtained exclusive U.S. commercial rights from Innocutis
Holdings, LLC for Bionect^® (hyaluronic acid sodium salt, 0.2%) within the
oncology and radiation oncology marketplace. Bionect^® is an FDA-cleared
product indicated for the management of irritation of the skin as well as
first and second degree burns. Bionect^® is currently being promoted and sold
by Innocutis in the dermatology market. DARA plans to launch this product in
2Q 2012.

DARA is also developing KRN5500, for the treatment of neuropathic pain in
patients with cancer. KRN5500 has successfully completed a Phase IIa study and
has been designated as a Fast Track Drug by the FDA.We are working with the
National Cancer Institute (NCI) to design an additional clinical trial under
joint DARA-NCI auspices while considering further internal Phase 2

In addition, DARA's pipeline includes DB959, a novel, non-TZD dual delta/gamma
PPAR agonist for the treatment of type 2 diabetes and dyslipidemia. DARA has
completed Phase I testing of DB959 and is presently pursuing opportunities to
out-license this product. DARA also has rights to other PPAR and
DPPIV-inhibitor compounds for which it intends to seek out-licensing or
partnering opportunities.

For more information please visit our web site at http://www.darabio.com.

The DARA BioSciences, Inc. logo is available at

Safe Harbor Statement

All statements in this news release that are not historical are
forward-looking statements within the meaning of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements are subject to factors
that could cause actual results to differ materially for DARA from those
projected. Those factors include risks and uncertainties relating to the
closing of the offering described in this news release, DARA's ability to
timely commercialize and generate revenues or profits from Bionect^®,
Soltamox^® or other products given DARA's lack of a current sales force and
lack of history as a revenue-generating company, FDA and other regulatory
risks relating to DARA's ability to market Bionect^®, Soltamox^® or other
products in the U.S. or elsewhere, DARA's ability to develop and bring new
products to market as anticipated, DARA's current cash position and its need
to raise additional capital in order to be able to continue to fund its
operations, the current regulatory environment in which the company develops
and sells its products, the market acceptance of those products, dependence on
partners, successful performance under collaborative and other commercial
agreements, competition, the strength of DARA's intellectual property and the
intellectual property of others, the potential delisting of DARA's common
stock from the NASDAQ Capital Market, risks and uncertainties relating to
DARA's ability to successfully integrate Oncogenerix and other risk factors
identified in the documents DARA has filed, or will file, with the Securities
and Exchange Commission ("SEC"). Copies of DARA's filings with the SEC may be
obtained from the SEC Internet site at http://www.sec.gov. DARA expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in DARA's expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statements are based. DARA
BioSciences and the DARA logo are trademarks of DARA BioSciences, Inc.

         Redington, Inc.
         212 926-1733
         203 222-7399

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