Adial Pharmaceuticals, Inc. Schedule 13G filing reports that Coastlands-related reporting persons collectively beneficially own 262,167 shares of Common Stock, representing 9.98% of the class based on 2,625,943 shares outstanding as of June 17, 2026. The shares are held by Coastlands Capital Partners LP for the benefit of its investors; reporting persons disclaim group membership and sole beneficial ownership beyond their pecuniary interest. The filing states shared voting and dispositive power for each reporting person and excludes pre-funded warrants above a 4.99% beneficial ownership limitation.
Positive
None.
Negative
None.
Insights
Coastlands reports a near-10% position held through an investment partnership.
The filing lists 262,167 shares and a 9.98% stake based on June 17, 2026, with shared voting and dispositive power across Coastlands entities and Matthew D. Perry. The Partnership holds the shares for investors and discloses a 4.99% beneficial ownership cap for pre-funded warrants.
Future disclosures may clarify any transactions or changes; cash-flow treatment and specific investor identities are not provided in the excerpt.
Key Figures
Shares beneficially owned:262,167 sharesPercent of class:9.98%Shares outstanding:2,625,943 shares+1 more
4 metrics
Shares beneficially owned262,167 sharesAs reported by Coastlands-related filers
Percent of class9.98%Based on 2,625,943 shares outstanding as of June 17, 2026
Shares outstanding2,625,943 sharesIssuer-provided figure as of June 17, 2026
Beneficial ownership limit (warrants)4.99%Limitation on pre-funded warrants exclusion stated in filing
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
pre-funded warrantsfinancial
"shares issuable upon exercise of pre-funded warrants"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
shared dispositive powerregulatory
"Shared Dispositive Power 262,167.00 reported for each person"
beneficial ownership limitationregulatory
"Excludes pre-funded warrants held ... in excess of a beneficial ownership limitation of 4.99%"
A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.
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What stake does Coastlands report in Adial Pharmaceuticals (ADIL)?
Coastlands-related filers report beneficial ownership of 262,167 shares, equal to 9.98% of the class based on 2,625,943 shares outstanding as of June 17, 2026. The shares are held by Coastlands Capital Partners LP for its investors.
Who are the reporting persons on the Schedule 13G for ADIL?
The filing names Coastlands Capital LP, Coastlands Capital Partners LP, Coastlands Capital GP LLC, Coastlands Capital LLC, and Matthew D. Perry as reporting persons, each shown with shared voting and dispositive power over the reported shares.
Does the filing indicate how the shares are held or controlled?
Yes. The filing states the Partnership holds the shares, including shares issuable upon exercise of pre-funded warrants, for the benefit of its investors and has the right to receive dividends or proceeds from sales of those shares.
Are pre-funded warrants included in the reported ownership?
The filing notes inclusion of shares issuable upon exercise of pre-funded warrants for beneficial ownership calculation but excludes pre-funded warrants that would exceed a 4.99% beneficial ownership limitation.
What voting and dispositive powers are reported for ADIL shares?
Each reporting person is shown with 0 sole voting/dispositive power and 262,167 shared voting and shared dispositive power over the reported shares, per the cover-sheet disclosures.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Adial Pharmaceuticals, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
00688A304
(CUSIP Number)
06/17/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
00688A304
1
Names of Reporting Persons
Coastlands Capital LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
262,167.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
262,167.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
262,167.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.98 %
12
Type of Reporting Person (See Instructions)
IA, PN
Comment for Type of Reporting Person: Consists of 262,167 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 2,625,943 shares outstanding as of June 17, 2026 as provided by the Issuer to the Reporting Persons. Excludes pre-funded warrants held by the Reporting Persons in excess of a beneficial ownership limitation of 4.99%.
SCHEDULE 13G
CUSIP Number(s):
00688A304
1
Names of Reporting Persons
Coastlands Capital Partners LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
262,167.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
262,167.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
262,167.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.98 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Consists of 262,167 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 2,625,943 shares outstanding as of June 17, 2026 as provided by the Issuer to the Reporting Persons. Excludes pre-funded warrants held by the Reporting Persons in excess of a beneficial ownership limitation of 4.99%.
SCHEDULE 13G
CUSIP Number(s):
00688A304
1
Names of Reporting Persons
Coastlands Capital GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
262,167.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
262,167.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
262,167.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.98 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Consists of 262,167 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 2,625,943 shares outstanding as of June 17, 2026 as provided by the Issuer to the Reporting Persons. Excludes pre-funded warrants held by the Reporting Persons in excess of a beneficial ownership limitation of 4.99%.
SCHEDULE 13G
CUSIP Number(s):
00688A304
1
Names of Reporting Persons
Coastlands Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
262,167.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
262,167.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
262,167.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.98 %
12
Type of Reporting Person (See Instructions)
HC, OO
Comment for Type of Reporting Person: Consists of 262,167 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 2,625,943 shares outstanding as of June 17, 2026 as provided by the Issuer to the Reporting Persons. Excludes pre-funded warrants held by the Reporting Persons in excess of a beneficial ownership limitation of 4.99%.
SCHEDULE 13G
CUSIP Number(s):
00688A304
1
Names of Reporting Persons
Matthew D. Perry
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
262,167.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
262,167.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
262,167.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.98 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Consists of 262,167 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 2,625,943 shares outstanding as of June 17, 2026 as provided by the Issuer to the Reporting Persons. Excludes pre-funded warrants held by the Reporting Persons in excess of a beneficial ownership limitation of 4.99%.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Adial Pharmaceuticals, Inc.
(b)
Address of issuer's principal executive offices:
4870 Sadler Road Suite 300 Glen Allen, VA, 23060
Item 2.
(a)
Name of person filing:
Coastlands Capital LP, a Delaware limited partnership ("Coastlands")
Coastlands Capital Partners LP, a Delaware limited partnership (the "Partnership")
Coastlands Capital GP LLC, a Delaware limited liability company (the "General Partner")
Coastlands Capital LLC, a Delaware limited liability company ("Coastlands GP")
Matthew D. Perry
Coastlands and the General Partner are the investment adviser and general partner, respectively, of the Partnership. Coastlands GP is the general partner of Coastlands. Mr. Perry is the control person of Coastlands, the Partnership, Coastlands GP and the General Partner. The reporting persons are filing this Schedule 13G jointly, but not as members of a group, and each disclaims membership in a group. Each reporting person also disclaims beneficial ownership of Common Stock except to the extent of that person's pecuniary interest therein. In addition, the filing of this Schedule 13G on behalf of the Partnership should not be construed as an admission that it is, and it disclaims that it is, a beneficial owner, as defined in Rule 13d-3 under the Act, of any Common Stock covered by this Schedule 13G.
(b)
Address or principal business office or, if none, residence:
601 California Street, Suite 1210, San Francisco, CA 94108
(c)
Citizenship:
See Item 4 of the cover sheet for each reporting person.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP Number(s):
00688A304
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Coastlands: 262,167
Partnership: 262,167
General Partner: 262,167
Coastlands GP: 262,167
Matthew D. Perry: 262,167
(b)
Percent of class:
Coastlands: 9.98%
Partnership: 9.98%
General Partner: 9.98%
Coastlands GP: 9.98%
Matthew D. Perry: 9.98%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Coastlands: 0
Partnership: 0
General Partner: 0
Coastlands GP: 0
Matthew D. Perry: 0
(ii) Shared power to vote or to direct the vote:
Coastlands: 262,167
Partnership: 262,167
General Partner: 262,167
Coastlands GP: 262,167
Matthew D. Perry: 262,167
(iii) Sole power to dispose or to direct the disposition of:
Coastlands: 0
Partnership: 0
General Partner: 0
Coastlands GP: 0
Matthew D. Perry: 0
(iv) Shared power to dispose or to direct the disposition of:
Coastlands: 262,167
Partnership: 262,167
General Partner: 262,167
Coastlands GP: 262,167
Matthew D. Perry: 262,167
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Partnership holds the shares of Common Stock, including shares of Common Stock issuable upon exercise of pre-funded warrants, for the benefit of its investors and has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, shares of Common Stock, including shares of Common Stock issuable upon exercise of pre-funded warrants.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Coastlands Capital LP
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer of the General Partner, Coastlands Capital LLC
Date:
06/24/2026
Coastlands Capital Partners LP
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer of the General Partner, Coastlands Capital GP LLC
Date:
06/24/2026
Coastlands Capital GP LLC
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer
Date:
06/24/2026
Coastlands Capital LLC
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer
Date:
06/24/2026
Matthew D. Perry
Signature:
/s/ Matthew D. Perry
Name/Title:
Reporting Person
Date:
06/24/2026
Exhibit Information
Exhibit 99.1 - Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
