Adial Pharmaceuticals Inc Stock Price, News & Analysis

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) announced a research collaboration between its subsidiary, Purnovate, and the Medical College of Wisconsin. The focus is on developing adenosine analogs as treatments for diabetes and non-alcoholic steatohepatitis (NASH). The collaboration aims to test Purnovate's compounds in preclinical models, which could potentially address significant unmet medical needs. The global NASH market is projected to exceed $54 billion by 2027, highlighting the potential market impact of these developments.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) is nearing the completion of its ONWARD™ Phase 3 trial for AD04, aimed at treating Alcohol Use Disorder (AUD), with results expected this quarter. The company ended Q1 2022 with a cash balance of $12.7 million, up from $6.1 million in Q4 2021. R&D expenses dropped to $0.6 million, and net loss improved to $2.9 million. With AUD representing a $36 billion U.S. market and 35 million affected individuals, Adial plans to advance discussions for potential commercialization of AD04, which is designed for easy oral administration.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) has announced a collaboration with UC San Diego to explore its adenosine analogs for treating inflammatory bowel disease (IBD). This partnership aims to validate the therapeutic potential of Purnovate’s compounds in preclinical models of IBD, conditions such as Crohn's disease, and ulcerative colitis. The global IBD treatment market is projected to reach USD 27.8 billion by 2028, indicating significant unmet medical needs. Adial's CEO expresses optimism about their compounds addressing IBD and other inflammatory conditions.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) will have CEO William Stilley participate in the 2022 Virtual Growth Conference from March 28-30. The event, hosted by Maxim Group LLC and M-Vest, requires prior membership to attend. Stilley's pre-recorded corporate update will be accessible throughout the conference. This event will feature presentations from various sectors, including Biotech and Healthcare. Adial is focused on developing treatments for addiction, with its lead drug AD04 currently in a pivotal Phase 3 trial for Alcohol Use Disorder.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) announced the completion of patient enrollment in its ONWARD™ Phase 3 trial, focusing on AD04 for treating Alcohol Use Disorder (AUD). The trial included 302 participants across 25 sites in Europe, surpassing initial targets. The CEO highlighted the significance of this milestone, emphasizing the need for effective AUD treatments amid rising public health concerns. Topline results are expected in Q2, aiming to demonstrate a statistically significant reduction in heavy drinking days for those treated with AD04 compared to a placebo.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) has successfully closed a registered direct offering, generating around $10 million. A single accredited institutional investor purchased approximately 2,322,250 shares of common stock, along with pre-funded warrants and additional warrants to acquire about 3,977,888 shares. The effective purchase price was $2.40 per share/warrant. The net proceeds will enhance Adial's balance sheet as it advances its Phase 3 ONWARD™ trial for AD04, targeting addiction treatments.

Adial Pharmaceuticals has entered into a securities purchase agreement with an institutional investor to raise approximately $10 million through a registered direct offering of common stock and related warrants. The agreement includes the sale of 4,187,250 shares at an effective purchase price of $2.40 per share, alongside warrants for 3,977,888 shares with an exercise price of $2.52. The closing date is anticipated on February 15, 2022, subject to customary conditions. The offering is being facilitated by Maxim Group LLC.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) announced promising results for its subsidiary, Purnovate's PNV-5032, in treating asthma. The in vivo study showed a 25% reduction in pulmonary flow resistance, which indicates improved airflow in an asthmatic model compared to controls. PNV-5032 exhibited over 1000-fold selectivity for the adenosine A1 receptor and demonstrated significantly higher solubility than similar compounds. The company aims to initiate first-in-human trials in 2023, supported by a patent application extending protection until 2047.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) announced that the U.S. Patent and Trademark Office has sent a Notice of Allowance for patent application No. 16/784,051 concerning the treatment of opioid use disorder (OUD) using its drug AD04. This application is particularly focused on patients with a genetic biomarker for the serotonin-3 receptor. Currently, AD04 is being evaluated in the ONWARD Phase 3 trial for alcohol use disorder (AUD). The company expects long-term patent protection through 2036, supporting its goal to address the significant market of OUD.