Seeking cash to fund PhIII for once-failed drug, Adynxx rides Alliqua's shell to Nasdaq
When Adynxx conceded that its non-opioid pain drug failed in Phase II, it vowed to hold out for a Phase III where it would focus on a subgroup of patients. Six months later, it is planning to tap the public market for the cash to back their move.
The biotech has inked an all-stock deal with Alliqua BioMedical to reverse merge its way onto Nasdaq. When it wraps up in 2019, the transaction would give Adynxx shareholders 86% control of the new company, which will have the same name.
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