Revenues for the Q2-2014 were $0.41 million, up 432% from last year and exceeding expectations for the first time.
DARA's revamped and enhanced commercial sales efforts seem to be working. We believe revenues in 2015 can approach $5.0 million.
DARA will meet with the U.S. FDA to discuss KRN5500 in the coming months. KRN5500 has been awarded TWO Orphan Drug designations and Fast Track development status.
Securing a development partnership for the initiation of a Phase 2b study with KRN5500 is top-priority after the FDA meeting. The company reports being in-talks with potential partners right now.
As of June 30, 2014, DARA held cash of $15.9 million. We believe this is enough to fund operations into 2016 based on a declining burn rate
from the 10Q:
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On May 14, 2014, we entered into a consulting agreement with Destum Partners, Inc. (“Destum”) pursuant to which we agreed to issue to Destum, as partial consideration for consulting services to be rendered to us by Destum, an aggregate of $30,000 of our restricted common stock payable in two equal installments due within five business days and 75 business days, respectively, following execution of the consulting agreement. In accordance with the consulting agreement, we issued to Destum an aggregate of 24,000 shares of our restricted common stock (half on May 13, 2014 and half on July 29, 2014), valued at a price of $1.25 per share, the May 13, 2014 closing price of our common stock immediately preceding the execution of the consulting agreement.
from Destum website:
Destum Partners is a boutique consulting and advisory firm designed to effectively meet the demands of the Biopharmaceutical and Life Sciences industries. We serve an exclusive global clientele dedicated to pushing the boundaries of technology innovation to improve the quality of life of humanity. Our Clients range from multinational pharmaceutical corporations to private early stage biotechnology companies.
Destum Partners was created to fill a clear void within a market that consisted of either only consulting firms or advisory firms. We have the ability to provide our Clients with a seamlessly integrated consulting approach beginning with analytics that yield strategic recommendations, then followed by the execution of those recommendations through our Advisory services as needed.
Our corporate office is located in Charlotte, NC, a global banking center. The three Managing Directors bring over 40 years of experience , and are supported by a talented team of professionals with impressive business development, scientific, financial, market and commercial expertise.
and other scared dopes who got sucked into selling at these prices.