Alliqua shares soar after news of Adynxx NIDA funding
14/12/2018 15:40
** Shares in Alliqua BioMedical ALQA.O climbed 46.0 pct in
heavy trading volume after late Thursday filing pointing to
award of $5.7 mln federal grant as National Institute on Drug
Abuse is looking to support development of brivoligide injection
for postoperative pain.
** Brivoligide is the lead product candidate of
privately-held company Adynxx Inc, which Alliqua is waiting for
approval to buy after a deal announced earlier this year.
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** Trading volume 8.6 times 10-day moving average as shares
jumped to $3.11 after closing at $2.14 Thursday. Earlier touched
session high of $3.35
** Adynxx says brivoligide can substantially reduce opioid
consumption for up to three months after surgery
((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))