Dara Biosciences announced this morning that the NASDAQ Stock Market has notified the company that it is now in compliance with the listing requirement of at least $2.5 million in stockholders' equity.
But the Raleigh drug-development company remains out of compliance with the market's requirement of a minimum share price of $1. The company said last month that it is in a 180-day "grace period" to regain share-price compliance that expires March 15.
In the meantime, the company's stock continues to trade on the NASDAQ Capital Market under the symbol DARA.
Dara shares were trading at 43 cents, up 1 cent, this morning.
Dara is developing experimental drugs to treat pain, type 2 diabetes and psoriasis.
Compliance with the NASDAQ stockholders' equity requirement comes in the wake of several company announcements of agreements to sell stock and warrants to institutional investors and raise more than $4 million.