DARA closed up 11.21% on volume about 3x its ADV, but it isn't doing well AHs./<g>
bigcharts.marketwatch.com
Ater the market close yesterday, it provided additional details from the PI for DB959, its PPAR, which is an oral drug for the treatment of Type 2 DM.
As it had previously reported, the safety of DB959Na was comparable to placebo, and the compound is likely to meet the target dosing regimen of once a day, thus meeting an important goal for the program.
The new information was concerning the the maximum tolerated single oral dose of DB959Na, and subjects in the study tolerated the 200 mg single dose as well, so the maximum tolerated single dose is higher than 200 mg, which is higher than the anticipated therapeutic dose.
As reported earlier, DB959 controlled glucose while raising HDL and the HDL:LDL ratio and lowering triglycerides.<g>
These beneficial effects on glucose and lipids were observed without causing the weight gain which seen with other PPAR agonists.
DARA plans to initiate a multiple ascending dose trial in the first half of 2011.
The ACTAY is $10 <g>
DARA's cash position was in need of improvement and DARA raised more than $4M at Yrs end,in an offering of convertible preferred stock and warrants, which was oversubscribed. The CEO reportedly bought $200Ks worth of those units. <g>
DARA had little previous insiders holdings, although there had been some small insidcer buying last year.
The institutional following is also lacking.<g>
With some good news, the stock still has plenty of room to run.<g>
bigcharts.marketwatch.com
Bernard
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