DARA Biosciences Inc. (DARA, Financial) filed Quarterly Report for the period ended 2010-06-30.
Dara Biosciences Inc. has a market cap of $9.3 million; its shares were traded at around $3.03 .
We incurred $1,224 and $1,823 in direct outside development costs associated with the development of DB200 series compounds during the three and six month periods ended June 30, 2010, and we have incurred costs of $381,042 from inception to date. We estimate the market potential for the topical agent segment of the psoriasis market to be roughly $3.9 billion in 2011.
equity instruments, the transactions are recorded on the basis of the fair value of the service received or the fair value of the equity instruments issued, whichever is more readily measurable at the date of issuance. Our Companys share-based compensation transactions for employees and non-employee directors resulted in compensation expense of $143,073 and $49,434 for the three months ended June 30, 2010 and 2009, respectively, and $349,058 and $180,683 for the six month periods ended June 30, 2010 and 2009, respectively. The Company recognized stock-based compensation expense for awards to consultants for services totaling $15,142 and $8,436 for the three months ended June 30, 2010 and 2009, respectively, and $37,638 and $23,089 for the six month periods ended June 30, 2010 and 2009, respectively.
Other (expense) income, net reflects non-operating activities associated with investments and dispositions on investments made in collaborations with other companies. Other (expense) income, net decreased $82,212 from an income of $82,356 for the three months ended June 30, 2009 to an income of $144 for the corresponding 2010 period. The decrease is due to the gain on the Companys sale of its marketable securities of $96,410 in 2009.
Other (expense) income, net reflects non-operating activities associated with investments and dispositions on investments made in collaborations with other companies. Other (expense) income, net decreased $701,099 from an income of $703,068 for the six months ended June 30, 2009 to an income of $1,969 for the corresponding 2010 period. The decrease is primarily due to the gain on investments of $551,410 from the distribution of SurgiVision stock, as well as the gain on the Companys sale of its marketable securities of $177,724 in 2009.
During the six month period ended June 30, 2010, cash used in our operating activities was $2,514,038. Cash used in operating activities was primarily due to the operating loss offset in part by non-cash stock-based compensation of $386,697 and depreciation and amortization of $72,526. Prepaid expenses increased by $126,019 for the six month period ended June 30, 2010, primarily representing prepaid director and officer insurance coverage. Accounts payable increased by $37,533 and accrued liabilities increased by $355,926.
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Dara Biosciences Inc. has a market cap of $9.3 million; its shares were traded at around $3.03 .
Highlight of Business Operations:
We incurred $187,190 and $285,417 in development costs associated with the development of KRN5500 during the three and six month periods ended June 30, 2010, and we have incurred costs of $3,692,526 from inception to date. We estimate the market potential for chemotherapy-induced neuropathy to be roughly $8 to $9 billion in the U.S. alone.We incurred $1,224 and $1,823 in direct outside development costs associated with the development of DB200 series compounds during the three and six month periods ended June 30, 2010, and we have incurred costs of $381,042 from inception to date. We estimate the market potential for the topical agent segment of the psoriasis market to be roughly $3.9 billion in 2011.
equity instruments, the transactions are recorded on the basis of the fair value of the service received or the fair value of the equity instruments issued, whichever is more readily measurable at the date of issuance. Our Companys share-based compensation transactions for employees and non-employee directors resulted in compensation expense of $143,073 and $49,434 for the three months ended June 30, 2010 and 2009, respectively, and $349,058 and $180,683 for the six month periods ended June 30, 2010 and 2009, respectively. The Company recognized stock-based compensation expense for awards to consultants for services totaling $15,142 and $8,436 for the three months ended June 30, 2010 and 2009, respectively, and $37,638 and $23,089 for the six month periods ended June 30, 2010 and 2009, respectively.
Other (expense) income, net reflects non-operating activities associated with investments and dispositions on investments made in collaborations with other companies. Other (expense) income, net decreased $82,212 from an income of $82,356 for the three months ended June 30, 2009 to an income of $144 for the corresponding 2010 period. The decrease is due to the gain on the Companys sale of its marketable securities of $96,410 in 2009.
Other (expense) income, net reflects non-operating activities associated with investments and dispositions on investments made in collaborations with other companies. Other (expense) income, net decreased $701,099 from an income of $703,068 for the six months ended June 30, 2009 to an income of $1,969 for the corresponding 2010 period. The decrease is primarily due to the gain on investments of $551,410 from the distribution of SurgiVision stock, as well as the gain on the Companys sale of its marketable securities of $177,724 in 2009.
During the six month period ended June 30, 2010, cash used in our operating activities was $2,514,038. Cash used in operating activities was primarily due to the operating loss offset in part by non-cash stock-based compensation of $386,697 and depreciation and amortization of $72,526. Prepaid expenses increased by $126,019 for the six month period ended June 30, 2010, primarily representing prepaid director and officer insurance coverage. Accounts payable increased by $37,533 and accrued liabilities increased by $355,926.
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