Business
Adynxx Reports Second Quarter 2019 Financial Results
Adynxx Reports Second Quarter 2019 Financial Results.
About this update from Adynxx Inc
[{"type":"text","content":"\nSAN FRANCISCO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Adynxx, Inc. (OTCQB: ADYX), a clinical-stage biopharmaceutical company focused on the development of transcription factor decoy technology and first-in-class therapeutics for the treatment of pain and inflammatory diseases, today announced financial results and provided a business update for the second quarter ended June 30, 2019.\n \"The second quarter of 2019 was transformative for Adynxx as we completed our merger with Alliqua BioMedical to become a public company,” said Rick Orr, President and Chief Executive Officer of Adynxx. “We are focused on continuing to advance brivoligide, our lead product candidate for post-operative pain, as well as our discovery and development activities related to additional product candidates. In the near-term we intend to initiate one to two Phase 2 studies of brivoligide this year, one of which is funded with the support of the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH). We are also actively and diligently pursuing a path to comply with the requirements to list our shares on a U.S. stock exchange. We believe we remain on track with our business initiatives.” Business Highlights and Recent Developments Continued activities to initiate one to two Phase 2 studies of brivoligide in the second half of 2019: o ADYX-006, a Phase 2 randomized double-blind, placebo-controlled study to evaluate the safety and efficacy of a single intrathecal preoperative administration of brivoligide injection in patients with a PCS score ≥16 undergoing mastectomy; Adynxx plans to commence this Phase 2 clinical trial as early as the fourth quarter of 2019, with top-line results expected as early as the second half of 2020, subject to receipt of additional funds from a grant award from NIDA for $5.7 million over a two-year period to complete ADYX-006. Following completion of milestones related to ADYX-006, Adynxx can receive an additional award of up to $9 million for a Phase 3 study of brivoligide.o ADYX-005, a Phase 2 randomized double-blind, placebo-controlled study to evaluate the safety and efficacy of a single intrathecal preoperative administration of brivoligide injection in patients with a PCS score ≥16 undergoing total knee arthroplasty; Adynxx is evaluating whether to commence this Ph...