Local Tech Wire

RALEIGH, N.C. – (Nasdaq: DARA) is executing a reverse 16-for-1 stock split on Thursday.

The company is striving to raise its share price above Nasdaq listing minimum of $1 per share. The move was approved at the firm’s annual meeting on Wednesday.

DARA closed Wednesday at 39 cents. A “D” will be added to the stock symbol for the next 20 trading days to indicate that the reverse stock split took place, the company said.

Nasdaq warned the company that its stock faced de-listing.

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