SOURCE: DARA BioSciences, Inc.

DARA BioSciences, Inc.

January 12, 2011 09:30 ET

Taglich Brothers Initiates Coverage on DARA BioSciences, Inc.

NEW YORK, NY--(Marketwire - January 12, 2011) - Taglich Brothers, Inc. announces it initiated coverage of DARA BioSciences, Inc,

DARA BioSciences, Inc. (NASDAQ: DARA), headquartered in Raleigh, NC, is a development stage company that acquires the rights to high-potential therapeutic molecules and medical technologies from pharmaceutical companies and academic institutions. The company undertakes further clinical development of acquired product candidates to a point where they can be sold or licensed to pharmaceutical companies that need to reinforce their pipelines with promising products. 

The companies that license or acquire DARA's product rights assume responsibility for completing clinical development and regulatory review submissions, and launching the products. DARA earns a combination of upfront fees, milestone payments and royalties on its licensing agreements.

DARA currently has two drug candidates, both of which have approved Investigational New Drug applications (INDs) from the FDA. KRN5500, a treatment for the treatment of neuropathic pain in cancer patients has completed a Phase 2a trial. DB959, a treatment for type 2 diabetes, has completed a Phase 1 study. The company's portfolio includes potential therapies for multiple sclerosis, Alzheimer's and autoimmune disorders. DARA has licenses to metabolic disease (including Type 2 diabetes) treatments from Bayer, treatments for pain and central peripheral nervous system conditions from Kyowa Hakko Kirin Co., and DPP-IV inhibitors for the treatment of type 2 diabetes and other metabolic diseases from Nuada, LLC.

The complete 19-page report is available at www.taglichbrothers.com.

We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. As of the date of this report no Taglich Brothers, Inc. employees had a position in the stock of the company mentioned in this report.

All research issued by Taglich Brothers, Inc. is based on public information. All research issued by Taglich Brothers, Inc. is based on public information. In November 2010 the company paid an initial monetary engagement fee of US$6,000 to Taglich Brothers, Inc. representing payment for the first three months of the creation and dissemination of research reports, after which the company will pay Taglich Brothers, Inc. a monetary fee of US$2,000 per month for such services.

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Contact Information

  • Contact:
    Richard Oh
    Taglich Brothers, Inc.
    631-757-1500