Alliqua BioMedical: Surges over 150 percent on plan to spin off unit

Adynxx

28/11/2018 16:24

** Advanced wound care company's shares  ALQA.O  surge over
160 pct to $4.37 in volatile trading 
    ** Co to spin off its hydrogel manufacturing facility,
AquaMed Technologies 
    ** The unit will be merged with privately held
cannabinoid-based drug company TO Pharmaceuticals LLC (TOP) to
create a new public company
    ** Combined company will be called TO Pharma, in which
Alliqua's shareholders will retain a minority stake, and members
of TOP hold a majority interest
    ** On Oct 12, Adynxx entered into a deal to buy
Alliqua urn:newsml:reuters.com:*:nL4N1WS4Y8
    ** Including session gains, ALQA soars 138 pct this year

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))