DARA BioSciences Regains Compliance with NASDAQ $1.00 Minimum Bid Price Rule

  DARA BioSciences Regains Compliance with NASDAQ $1.00 Minimum Bid Price Rule

Business Wire

RALEIGH, N.C. -- February 14, 2013

DARA BioSciences, Inc. (NASDAQ: DARA), a specialty pharmaceutical company
focused on oncology and oncology supportive care products, announced today
that on February 12, 2013, NASDAQ notified the Company that it has regained
compliance with Rule 5550(a)(2), which requires a minimum bid price of $1.00
for continued listing on the NASDAQ Stock Market (the “Minimum Bid Price
Rule”).

Commenting on the announcement, David J. Drutz, MD, DARA's chief executive
officer, stated "We are pleased to announce that we have regained compliance
with NASDAQ’s minimum bid price rule. Management will continue to pursue its
objective of maximizing shareholder value with the primary goal of becoming a
leading oncology and oncology supportive care company in the United States.
Our commercial plans remain on target and we are excited about the recent
launch of Soltamox^® in late 2012 and the expected launch of Gelclair^® in
early 2013."

About DARA BioSciences, Inc.

DARA is a specialty pharmaceutical company focused on the development and
commercialization of oncology treatment and supportive care products. DARA has
comprehensive commercial coverage across the national oncology market through
a series of agreements with a number of specialty pharmacy providers, leading
group purchasing organizations (GPOs), retail partners, reimbursement experts,
and an industry-leading third-party logistics provider. As part of an
integrated national network with annual sales of over $1 billion in cancer
therapeutics, DARA has significant commercial scale and capabilities. Its
distribution network consists of more than 45,000 retail pharmacies, mail
order pharmacies, and long-term care facilities. This provides DARA with
established reimbursement and logistics expertise, as well as partnering
opportunities with more than 300 sales and marketing personnel uniquely
focused on oncology and oncology support products. This comprehensive network
of partners is rare if not unique among companies in the oncology supportive
care area and provides DARA a strong foundation for product introductions into
this underserved market.

DARA increased its focus in oncology through its January 2012 acquisition of
Oncogenerix, Inc., which holds the exclusive U.S. marketing rights to
Soltamox^®, a novel oral liquid formulation of tamoxifen citrate, which is
widely used in the treatment and prevention of breast cancer. Soltamox is the
only FDA-approved oral liquid version of tamoxifen citrate and fulfills a
vital clinical need for patients who cannot tolerate existing solid tablet
formulations of this drug. DARA launched Soltamox in October 2012 to coincide
with National Breast Cancer Awareness Month. DARA has exclusive U.S. rights to
Soltamox through a license from Rosemont Pharmaceuticals, Ltd. Additionally,
in June 2012, DARA launched its first product, Bionect^®, a topical treatment
for skin irritation and burns associated with radiation therapy. DARA has
rights to market Bionect in the US oncology/radiology markets under license
from Innocutis. In September 2012, DARA entered into an exclusive agreement
with the Helsinn Group of Switzerland for U.S. commercial rights to
Gelclair^®, an FDA-cleared product for the treatment of oral mucositis. DARA
plans to launch Gelclair in the first quarter of 2013.

Prior to acquiring Oncogenerix, DARA was focused on the development of a
cancer-support therapeutic compound, KRN5500, for the treatment of neuropathic
pain in patients with cancer. This product is an excellent fit with DARA’s
strategic oncology focus, has successfully completed a Phase 2a clinical
trial, and has been designated a Fast Track Drug by the United States Food and
Drug Administration. DARA is working with the National Cancer Institute (NCI)
to design an additional clinical trial under joint DARA-NCI auspices while
continuing further Phase 2 development.

In addition to its oncology products, 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 1 testing of DB959 and is presently
pursuing opportunities to out-license this product.

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

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 DARA's
ability to timely commercialize and generate revenues or profits from
Bionect^®, Soltamox®, Gelclair® or other products given that DARA only
recently hired its initial sales force and DARA's lack of history as a
revenue-generating company, FDA and other regulatory risks relating to DARA's
ability to market Bionect, Soltamox, Gelclair 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 DARA 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.

Contact:

Contact for DARA BioSciences, Inc.:
The Del Mar Consulting Group, Inc.
Robert B. Prag, 858-794-9500
President
bprag@delmarconsulting.com
or
Alex Partners, LLC
Scott Wilfong, 425-242-0891
President
scott@alexpartnersllc.com
 
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