Brief: Alliqua Biomedical sells TheraBond 3D Antimicrobial Barrier Systems product line

Adynxx

05/09/2017 12:30

Sept 5 (Reuters) - Alliqua Biomedical Inc  ALQA.O  
    * Alliqua Biomedical Inc announces the sale of TheraBond 3D 
Antimicrobial Barrier Systems product line; Alliqua updates 
fiscal year outlook 
    * Sees FY 2017 revenue up about 13 to 19 percent 
    * Sees FY 2017 revenue $18.4 million to $19.3 million 
    * Alliqua Biomedical Inc - for fiscal year 2017 company 
still expects cash burn from operations to be approximately 
$12.0 million 
    * Alliqua Biomedical says Alliqua sold all assets associated 
with its TheraBond 3D Antimicrobial Barrier Systems product line 
to Argentum Medical, LLC 
    * Alliqua Biomedical Inc - Alliqua will use proceeds from 
sale for working capital purposes and to reduce its outstanding 
debt balance 
    * Alliqua Biomedical Inc - as a result of the transaction, 
company's lender has agreed to defer all principal payments 
until January 31, 2018 
    * Alliqua Biomedical Inc - aggregate purchase price for 
TheraBond product line was approximately $3.8 million 
    * Alliqua Biomedical - net of payments to Alliqua's senior 
secured lender of $1.65 million, Alliqua received proceeds of 
approximately $1.65 million at closing 
 
Source text for Eikon:  ID:nGNXODZRQa  
Further company coverage:  ALQA.O  
 
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