Thinly traded nano cap Alliqua BioMedical (NASDAQ:ALQA) is up 28% premarket on light volume on the heels of its agreement to execute a reverse merger with privately held Adynxx.
The combined company will do business as Adynxx and will trade on Nasdaq in “early 2019” (considering today’s date “early” appears to be a relative term). After the transaction is completed, Adynxx shareholders will own ~86% of the new organization while Alliqua stockholders will own ~14%.
Adynxx’s lead program is brivoligide, a non-opioid pain med. Two Phase 2 clinical trials in postoperative pain should launch soon with topline data from the first study (in patients undergoing knee replacement) expected in mid-2020 and the second (in patients undergoing mastectomy) later in 2020.
IND-enabling studies for its second product candidate, AYX2, also a non-opioid pain med, should launch in H2.
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