DARA BioSciences, wrapping up a merger with Point Therapeutics, went public Wednesday on the Nasdaq.

The firm’s stock (Nasdaq: DARA) traded at $7.39 in early afternoon action. The merger was announced in October when Point’s stock traded for 5 cents.

The deal followed Point Therapeutics’ reverse stock action that combined 40 shares into one. DARA stockholders received just over 1 million of the new shares and preferred stock before the merger was completed.

Point, which was based in Massachusetts, changed its name to DARA.

DARA is focused on potential treatments for neuropathic pain, metabolic diseases such as type 2 diabetes, and dermatological disorders. The company licenses compounds from late preclinical development through Phase II clinical trials.

DARA recently signed an agreement with Bayer Pharmaceuticals to license patents and compounds from Bayer that could lead to treatments for Type 2 diabetes and a blood disorder known as dyslipidemia.

Point’s stock price collapsed recently after the company terminated Phase III clinical trials involving a treatment for lung cancer. The company stopped other funding and research due to cash limitations