Dara BioSciences has completed a reverse merger with the nearly-defunct Point Therapeutics, taking the company public. In the deal Dara technically became a subsidiary of Point as a preliminary move to changing the combined company's name to Dara BioSciences. Point Therapeutics jettisoned its executive staff and all but two full-time employees after it shuttered a late-stage trial of talabostat for non-small cell lung cancer. Dara's shareholders control 96.4 percent of the combined company's stock.
- see this release
- read the report from MassHighTech