DARA Biosciences Other Current Assets Calculation
Technically, the other current assets line may include any asset that will be used up within the next 12 months. However, other current assets never include assets that are listed elsewhere in the current assets section of the balance sheet. For this reason, other current assets are almost never:
Cash
Trade Receivables
Inventory
The assets grouped under other current assets are most commonly:
Prepaid Expenses
Tax Assets
Non-Trade Receivables
Other (too numerous to list)
Some companies can and do choose to report each of these items separately.
Other current assets may be made up largely of Prepaid Expenses - unless these are listed on a separate line of the balance sheet.
Prepaid expenses are exactly what they sound like. If a company pays a $30 million insurance premium on the last day of June that will provide coverage for the entire month of July, the company will record a $30 million prepaid expense to account for the insurance expense it will show in July that it already paid for in June.
Tax assets can be quite complex. It is not common for companies to have both tax assets and tax liabilities. It is important that investors take note of both items when considering future taxes.
Non-Trade receivables are rarely a large item. They include money owed to the company by non-customers. Non-trade receivables can be caused by related party transactions, the sale of a business unit, etc. The notes to the company's financial statements will often provide much more detail on this item if it is truly important.
There are a variety of other current assets like non-trade receivables which are simply too numerous to list. If a company is following correct reporting procedures, it should not lump items that are different from one another and yet individually important to the company together under the line Other Current Assets.
At most companies, other current assets are a small and unimportant part of the total balance sheet.
DARA Biosciences (DARA Biosciences) Business Description
Traded in Other Exchanges
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Address
DARA Biosciences Inc was incorporated on June 22, 2002. It is a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care pharmaceutical products. Through its acquisition of Oncogenerix, Inc., which occurred on January 17, 2012, the Company acquired exclusive U.S. marketing rights to its first commercial proprietary product, Soltamox (oral liquid tamoxifen). The Company's main focus is on the development and commercialization of oncology treatment and supportive care pharmaceutical products: Soltamox, Gemcitabine and other generic sterile injectable cytotoxic products, and Cancer support therapeutics. Soltamox (oral liquid tamoxifen), its first proprietary, FDA approved product, is a drug primarily used to treat breast cancer. Soltamox has been approved by the U.S. Food and Drug Administration ('FDA') for the treatment of breast cancer. Soltamox will be the only liquid formulation of tamoxifen available for sale in the United States. Soltamox is used mainly for the chronic treatment of breast cancer or for cancer prevention in certain susceptible breast cancer subgroups. The Company is also focusing on the development and commercialization of generic sterile injectable cytotoxic products. The Company's agreement with Uman Pharma Inc. pursuant to which it received an exclusive license to import, sell, market and distribute Uman's gemcitabine lyophilized powder product in 200mg and 1g dosage sizes in the U.S. Gemcitabine went off patent in 2011 in the U.S. and is prescribed as first-line therapy for ovarian, breast, lung and pancreatic cancers. Currently, the Company has two main drug candidates advancing through clinical development with cleared Investigational New Drug applications from the FDA: KRN5500, a novel, non-narcotic/non-opioid for the treatment of neuropathic pain in patients with cancer; and DB959, a first-in-class drug candidate for the treatment of type 2 diabetes and dyslipidemia. The Company mainly competes with other pharmaceutical companies, biotechnology companies and other research and academic institutions. The Company's advertising, marketing and distribution of pharmaceutical products in the United States is subject to the regulation of United States Food, Drug and Cosmetic Act.
Executives
| David Drutz |
director, officer: Executive Chairman and CMO |
8601 SIX FORKS ROAD, SUITE 160, RALEIGH NC 27615 |
| David L. Tousley |
officer: CFO |
14610 PAWNEE LANE, LEAWOOD KS 66224 |
| Gail Lieberman |
director |
175 EAST 79TH STREET, APT. 4D, NEW YORK NY 10075 |
| Paul John Richardson |
director |
17 COUNTRY OAKS ROAD, LEBANON NJ 08833 |
| Steve Gorlin |
director |
150 GULF SHORE DRIVE, UNIT 601, DESTIN FL 32541 |
| Ann A Rosar |
officer: Vice President Finance |
C/O 801 CAPITOLA DRIVE, DURHAM NC 27713 |
| John C Thomas |
director |
8601 SIX FORKS ROAD, SUITE 160, RALEIGH NC 27615 |
| Geert Cauwenbergh |
director |
1 STULTS DRIVE, PLAINSBORO NJ 08536 |
| Kurt M Eichler |
director |
C/O SPRING BANK PHARMACEUTICALS, INC., STE S-7, MILFORD MA 01757 |
| Hamilton Jordan |
director |
|
| Stuart C Mcwhorter |
director |
113 SEABOARD LANE, FRANKLIN TN 37067 |
| Timothy J Barberich |
director |
40 ELM ST, CONCORD MA 01752 |
| Michael P Duffy |
officer: SVP, GC and Secretary |
C/O POINT THERAPEUTICS INC, 125 SUMMER STREET SUITE 1840, BOSTON MA 02110 |
| Richard J Benjamin |
director |
15 WHITE PINE ROAD, NEWTON MA 02464 |
| Larry G Pickering |
director |
26130 MANDEVILLA DRIVE, BONITA SPRINGS FL 34134 |
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