Adial Pharmaceuticals Inc

Adial Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company, which focuses on the treatment of alcohol use disorder. Its lead product is AD04, a selective serotonin-3 antagonist. The company was founded by Bankole A. Johnson in November 2010 and is headquartered in Charlottesville, VA.

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Adial Pharmaceuticals, Inc. engages in the development of therapeutics for the treatment or prevention of addiction and related disorders. It offers the AD04, a selective serotonin-3 antagonist. The company was founded by Bankole A. Johnson and William B. Stilley, III in November 2010 and is headquartered in Glen Allen, VA.

CHARLOTTESVILLE, Va., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that on December 16, 2023, it received the final development cost reimbursement payment of $350,000 from Adovate, LLC under the terms of the final asset purchase agreement (the “FAA”) executed with Adovate for purchase of the assets and business of the Company's wholly owned subsidiary, Purnovate, Inc. Under the agreement, the Company is also eligible to receive up to approximately $11 million in development and approval milestones for each compound (up to $33 million in total development and approval milestones for the first three compounds alone), as well as a total of $50 million in additional commercial milestones, for a total consideration of up to $83 million with potential milestone payments on additional compounds. Additionally, the Company will receive a low, single-digit royalty and acquired a 15% equity stake in Adovate. The FAA also provides for anti-dilution protection from future Adovate equity raises in order to maintain at least 15% ownership in Adovate. The anti-dilution protection expires upon Adovate receiving $4,000,000 in cumulative funding.

Adial Pharmaceuticals Receives Final Reimbursement Payment from Adovate

CHARLOTTESVILLE, Va., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it received notice from Nasdaq today that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders' equity of at least $2,500,000. Nasdaq will continue to monitor the Company's ongoing compliance with the stockholders' equity requirement and, if at the time of its next periodic report the Company does not evidence compliance, it may be subject to delisting.

Adial Pharmaceuticals Regains Compliance with Nasdaq Listing Requirement

Advancing Discussions with Potential Strategic Partners Received Frost & Sullivan's 2023 North American Precision Medicine for Addiction Disorders Technology Innovation Leadership Award Closed $4 Million Private Placement Priced At-The-Market Under Nasdaq Rules; Extends Cash Runway into Q4 2024 CHARLOTTESVILLE, Va., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today provided a business update and reported its financial results for the third quarter of 2023.

Adial Pharmaceuticals Reports Third Quarter 2023 Financial Results and Provides Business Update

CHARLOTTESVILLE, Va., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that the Chief Medical Officer of Adial, Bankole Johnson, D.Sc., M.D., and Key Opinion Leaders Jonathan Chick, M.D., Hannu Alho, M.D., and Icro Maremmani M.D., will be presenting at The Annual International Society of Addiction Medicine Conference taking place November 2-4, 2023, in Marrakesh, Morocco.

Adial Pharmaceuticals Chief Medical Officer and Key Opinion Leaders to Discuss “New Aspects in Substance Use Treatment” at The Annual International Society of Addiction Medicine Conference

Adial Pharmaceuticals, Inc. (ADIL) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

All You Need to Know About Adial Pharmaceuticals, Inc. (ADIL) Rating Upgrade to Buy

Experts agree that there are benefits to reductions in drinking, supporting the ongoing development of non-abstinence-based therapies to treat alcohol use disorder Experts agree that there are benefits to reductions in drinking, supporting the ongoing development of non-abstinence-based therapies to treat alcohol use disorder

Addiction Experts Highlight the Need for Non-Abstinence-Based Therapies to Treat Alcohol Use Disorder in Adial Pharmaceuticals Key Opinion Leader Webinar

CHARLOTTESVILLE, Va., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it has closed its previously announced private placement offering for the purchase and sale of an aggregate of 1,418,440 shares of its common stock (or common stock equivalents in lieu thereof), series A warrants to purchase up to 1,418,440 shares of common stock and series B warrants to purchase up to 1,418,440 shares of common stock, at a purchase price of $2.82 per share of common stock (or common stock equivalent in lieu thereof) and accompanying warrants, in a private placement priced at-the-market under Nasdaq rules.

Adial Pharmaceuticals Announces Closing of $4 Million Private Placement Priced At-The-Market Under Nasdaq Rules

CHARLOTTESVILLE, Va., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 1,418,440 shares of its common stock (or common stock equivalents in lieu thereof), series A warrants to purchase up to 1,418,440 shares of common stock and series B warrants to purchase up to 1,418,440 shares of common stock, at a purchase price of $2.82 per share of common stock (or common stock equivalent in lieu thereof) and accompanying warrants, in a private placement priced at-the-market under Nasdaq rules. The offering is expected to close on or about October 24, 2023, subject to the satisfaction of customary closing conditions.

Adial Pharmaceuticals Announces $4 Million Private Placement Priced At-The-Market Under Nasdaq Rules

CHARLOTTESVILLE, VA / ACCESSWIRE / October 19, 2023 / Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) ("Adial" or the "Company"), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it will be participating in the Fall Foliage MicroCap Rodeo Conference that will be held virtually Tuesday, October 24th through Friday, October 27th, 2023. Cary Claiborne, CEO of Adial Pharmaceuticals, is scheduled to present on Wednesday, October 25th, at 10:30 a.m.

Adial Pharmaceuticals to Present at the Fall Foliage MicroCap Rodeo Conference on October 25th

Allowed claims cover the detection of select genotypes for use of AD04 to treating AUD and OUD patients Allowed claims cover the detection of select genotypes for use of AD04 to treating AUD and OUD patients

Adial Pharmaceuticals Awarded Notice of Allowance for Key Patent Combining Use of the Company's Proprietary Genetic Diagnostic with AD04 to Treat Alcohol and Drug Dependence

Frost & Sullivan recognizes Adial for its best practices in precision medicine for the addiction disorders industry Frost & Sullivan recognizes Adial for its best practices in precision medicine for the addiction disorders industry

Adial Pharmaceuticals Wins Frost & Sullivan's 2023 North American Precision Medicine for Addiction Disorders Technology Innovation Leadership Award

Pre-registration for the LinkedIn Live event will begin on Thursday, September 28th Industry experts to discuss the need for non-abstinence-based therapies in Alcohol Use Disorder (AUD) CHARLOTTESVILLE, Va., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that on October 4, 2023, at 2:15 p.m.

Adial Pharmaceuticals to Host a Virtual Key Opinion Leader Webinar to Discuss the Unmet Need in Alcohol Use Disorder

CHARLOTTESVILLE, Va., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that Cary Claiborne, CEO of Adial Pharmaceuticals, will be participating in the H.C. Wainwright 25th Annual Global Investment Conference being held September 11-13, 2023 at the Lotte New York Palace Hotel in New York City.

Adial Pharmaceuticals to Present at the H.C. Wainwright 25th Annual Global Investment Conference

CHARLOTTESVILLE, Va., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that the Chief Medical Officer of Adial, Bankole Johnson, D.SC., M.D., and Key Opinion Leaders Jonathan Chick, M.D., Hannu Alho, M.D., Otto Lesch, M.D., and Giovanni Addolorato, M.D., will be presenting at the European Society for Biomedical Research on Alcoholism (ESBRA), taking place September 1-3, 2023, in Graz, Austria.

Adial Pharmaceuticals Chief Medical Officer and Key Opinion Leaders to Discuss the Need for New Alcohol Use Disorder Treatments at the European Society for Biomedical Research on Alcoholism

CHARLOTTESVILLE, Va., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it received notice from Nasdaq on August 21, 2023 that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). Nasdaq determined that for the last 10 consecutive business days, from August 7 through August 18, 2023, the closing bid price of the Company's common stock has been at $1.00 per share or greater.

Adial Pharmaceuticals Regains Compliance with Nasdaq Listing Requirements

Reported Positive Feedback from US and EU Regulatory Meetings Sale of Purnovate Significantly Reduces Cash Burn Rate Charlottesville, Va., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today provided a business update and reported its financial results for the second quarter of 2023.

Adial Pharmaceuticals Reports Second Quarter 2023 Financial Results and Provides Business Update

Common Stock Will Begin Trading on Split-Adjusted Basis on August 7, 2023 Common Stock Will Begin Trading on Split-Adjusted Basis on August 7, 2023

Adial Pharmaceuticals Announces Reverse Stock Split to Regain Compliance with Nasdaq's Minimum Bid Price Requirement and Reduce the Public Float

Adial (ADIL) shares rise 43% in the past week after the company announced positive regulatory updates on its only pipeline candidate, AD04, for the treatment of alcohol use disorder.

Adial (ADIL) Shares Up 43% in the Past Week: Here's Why

CHARLOTTESVILLE, Va., July 11, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) ("Adial" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of AD04, a genetically targeted, serotonin-3 receptor antagonist for the treatment of Alcohol Use Disorder (“AUD”), today provided a summary of feedback received following recent meetings with both US and EU regulators, as well as an update on the Company's current clinical development plan based on guidance received.

Adial Provides Business Update Following Favorable Comments from US and EU Regulatory Meetings

CHARLOTTESVILLE, Va., June 01, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, announced today that it will be presenting at the Jefferies 2023 Global Healthcare Conference being held June 7-9, 2023, at the Marriott Marquis in New York, NY.

Adial Pharmaceuticals to Present at the 2023 Jefferies Global Healthcare Conference on June 9th

Conducted meetings with U.S. and select European regulatory agencies Received Notice of Exercise and upfront cash of $0.45 million from Advocate for the sale of Purnovate assets and business Ended 2023 first quarter with cash and cash equivalents of $2.3 million CHARLOTTESVILLE, Va., May 12, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today provided a business update and reported its financial results for the first quarter of 2023.

Adial Pharmaceuticals Reports First Quarter 2023 Financial Results and Provides Business Update

Adial to receive potential development and commercial milestone payments of up to $83 million on the first three compounds plus 19.9% equity stake and ongoing royalties Adial to receive potential development and commercial milestone payments of up to $83 million on the first three compounds plus 19.9% equity stake and ongoing royalties

Adial Pharmaceuticals Receives Notice of Exercise from Adovate for the Acquisition of Purnovate's Assets and Business

Here is how Adial Pharmaceuticals, Inc. (ADIL) and Adverum Biotechnologies (ADVM) have performed compared to their sector so far this year.

Is Adial Pharmaceuticals (ADIL) Stock Outpacing Its Medical Peers This Year?

Secured meetings with U.S. and European regulatory agencies

Adial Pharmaceuticals Reports 2022 Fiscal Year Financial Results and Provides Business Update

The Keswick Group is led by experienced pharmaceutical business development executive, Tony Goodman The Keswick Group is led by experienced pharmaceutical business development executive, Tony Goodman

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