Adial Pharmaceuticals Inc - ADILW STOCK NEWS

Adial Pharmaceuticals announces positive results from a peer-reviewed article highlighting the safety and efficacy of AD04 in treating Alcohol Use Disorder (AUD) without significant adverse effects. The study emphasizes the liver safety profile of AD04 compared to placebo, indicating promising clinical outcomes and high patient compliance.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) provided a business update and reported financial results for the 2023 fiscal year. The company made significant progress towards the potential approval and commercial launch of its lead investigational new drug product, AD04, to treat Alcohol Use Disorder. Adial received positive feedback from US and EU regulators, engaged expert advisors, and is finalizing its clinical development plan. Discussions with potential strategic partners are advancing, and the company received $4.3 million in gross proceeds from warrant exercises. Adial also announced key patents related to genetic diagnostics for the treatment of Alcohol Use Disorder and opioid use disorder. The company received awards for technology innovation and completed a reimbursement agreement with Adovate, Financially, Adial reported $2.8 million in cash and cash equivalents, with total gross proceeds of $4.3 million from warrant exercises. Research and development expenses decreased by 35%, and general and administrative expenses decreased by 37%. The net loss for 2023 was $5.1 million, an improvement from the previous year.

Adial Pharmaceuticals, Inc. announces the immediate exercise of warrants, raising $3.5 million. H.C. Wainwright & Co. acts as the exclusive placement agent for the offering.

Adial Pharmaceuticals strengthens its patent portfolio with a new patent covering AD04's ability to target the serotonin transporter gene for treating opioid use disorder. The patent was issued by the United States Patent and Trademark Office, highlighting the company's commitment to developing therapies for addiction and related disorders.

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) announces participation in Winter Wrap-Up MicroCap Rodeo Conference. CEO Cary Claiborne to present on February 20, 2024, and host one-on-one meetings with investors. Register at webcaster4.com and MicroCap Rodeo.

Adial Pharmaceuticals expands its patent estate to cover a unique genetic diagnostic approach for treating alcohol and drug dependencies. The Company's lead drug, AD04, shows promising results in specific genotype patients, potentially revolutionizing addiction treatment.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) announced the appointment of Tony Goodman as Chief Operating Officer. Goodman will oversee strategic growth initiatives, clinical development, and commercial planning for AD04, as well as business development initiatives focused on partnership opportunities in the addiction treatment space. With over 23 years of experience in the pharmaceutical and biotech industries, Goodman's appointment signifies a pivotal time for the company as it prepares to advance the AD04 clinical program and potential commercialization for the treatment of alcohol use disorder.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) received a final development cost reimbursement payment of $350,000 from Adovate, LLC. The company is eligible for up to $83 million in total consideration, including development and approval milestones, commercial milestones, and a low, single-digit royalty. Additionally, Adial acquired a 15% equity stake in Adovate and has anti-dilution protection. This agreement is a significant milestone for Adial's business development and potential future revenue.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) has regained compliance with Nasdaq Listing Rule 5550(b)(1) requiring listed companies to maintain stockholders' equity of at least $2,500,000. If the Company does not evidence compliance in its next periodic report, it may be subject to delisting.