Alliqua, Choice Therapeutics deal

Alliqua acquired fellow wound care company Choice in a cash and stock deal that values Choice at $4 million. Choice shareholders are also eligible for up to $5 million in stock or cash if revenue from Choice products reaches at least $6.8 million in one of the next three years ending April 30, 2017. The payment is based on a revenue earnout scale, with the minimum revenue range of $2-$2.3 million paying out at $250,000. Alliqua said Choice's revenue is around the bottom range of the scale but declined to disclose an exact figure. Alliqua reported revenue of $591,000 in 1Q14 and $1.8 million in 2013. ...