Stock Update (NASDAQ:DARA): DARA Biosciences Inc Announces Stockholder Approval of Merger With Midatech
DARA Biosciences Inc (NASDAQ:DARA), an oncology supportive care pharmaceutical company dedicated to providing health care professionals a synergistic portfolio of medicines to help cancer patients adhere to their therapy and manage side effects arising from their cancer treatment, today announced that its stockholders have approved the adoption of the previously announced merger agreement by and among DARA, Midatech Pharma PLC (“Midatech”) and certain other parties thereto.
Pursuant to the merger agreement, upon completion of the contemplated merger, DARA will become a wholly owned subsidiary of Midatech.
The merger remains subject to customary closing conditions and is expected to close in the next week. (Original Source)
Shares of Dara Biosciences are up 6.38% to $1.00 in after-hours trading. DARA has a 1-year high of $1.05 and a 1-year low of $0.67. The stock’s 50-day moving average is $0.86 and its 200-day moving average is $0.86.
DARA Biosciences Inc is a specialty pharmaceutical company focused on the commercialization of oncology treatment and supportive care pharmaceutical products. Its products include Gelclair, Oravig and Soltamox.