ADIL Adial Pharmaceuticals, Inc
Financings ·
Adial Pharmaceuticals becomes Azora Therapeutics and is expected to trade as AZR from October 29, 2026, after stockholders approved converting the preferred stock issued in its June 2026 acquisition of Azora. The October release does not mention AD04, the drug the company's March 2026 annual report called its lead asset.
Adial reconvened its 2026 Annual Meeting on October 15, 2026 for four proposals and adjourned it a second time to October 26, 2026, while its Nasdaq listing application remains without approval.
Stockholders approved a 2017 plan amendment, a 2026 equity plan, a 2026 employee stock purchase plan and an increase in authorized shares to 500,000,000 at the September 17, 2026 meeting.
Nasdaq told Adial on August 18, 2026 that it no longer meets the $2,500,000 stockholders' equity requirement. The company says it anticipates regaining compliance once holders approve conversion of its Series A Non-Voting Convertible Preferred Stock.
Adial anticipates that Cary Claiborne and Vinay Shah will leave after stockholders approve the proposals at the annual meeting, and that Matthew Davidson will become president and chief executive officer.
The deal adds AT177, a colon-targeted AhR agonist for ulcerative colitis, to Adial's pipeline, with about $32 million in initial gross proceeds and up to $32 million more tied to Phase 1 initiation.
Cash was $4.6 million at March 31, 2026, and Adial says it can fund operating expenses into the second half of 2026 on its committed development plans.
The compensation committee approved restricted stock awards on April 7, 2026 for Cary Claiborne, Vinay Shah, Tony Goodman and other directors, vesting on the first anniversary or on a change of control.
Adial Pharmaceuticals has until March 2, 2026 to hold its shares at $1.00 or more for ten consecutive business days. Its 10-K for 2024 said current cash would not cover the next twelve months, and its accumulated deficit reached $82.0 million.
Nasdaq told Adial Pharmaceuticals on March 5, 2025 that its stock had closed below $1.00 for 30 consecutive business days. The company has until September 1, 2025 to regain compliance, and its annual report carries a going-concern warning.
Adial Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company developing therapeutics for addiction and related disorders. Its investigational drug candidate, AD04, is being developed to treat alcohol use disorder (AUD). AD04 was studied in the Phase 3 ONWARD trial, which enrolled 302 patients at 25 clinical sites in six countries. The trial missed its primary endpoint but showed statistical significance in a pre-defined patient group. Adial is now focused on completing the clinical development program for AD04 in the specified genetic subgroups to meet regulatory requirements, primarily in the US and secondarily in Europe and the UK. On March 3, 2026, Adial entered a collaboration framework with Molteni Farmaceutici for a proposed exclusive partnership covering commercialization of AD04 in Europe. The framework is subject to execution of a final definitive agreement, which is expected to include an upfront payment, milestone payments and tiered royalties. Adial has no approved products, and its current cash is not expected to be sufficient to fund operations for the next twelve months. The company has funded its operations through private and public placements of debt and equity, and an equity line.
| Product or program | What it is | Stage |
|---|---|---|
| AD04 | Investigational drug candidate for alcohol use disorder | Investigated in Phase 3 ONWARD trial; completing program in genetic subgroups |
| Line | FY2025 | FY2024 |
|---|---|---|
| Research and development | $2.6 million | $3.2 million |
| Net income (loss) | -$8.0 million | -$13.2 million |
| Cash from operations | -$6.5 million | -$6.9 million |
| Cash and equivalents | $5.9 million | $3.8 million |
Our latest story on this, dated Mar 7, 2025: "Adial Pharmaceuticals gets Nasdaq minimum bid price deficiency notice, has until September 1, 2025". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Aug 21, 2026: "Adial Pharmaceuticals gets Nasdaq stockholders' equity notice, plan due October 2, 2026". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Mar 7, 2025: "Adial Pharmaceuticals gets Nasdaq minimum bid price deficiency notice, has until September 1, 2025". The story links the filing or release it is based on. Read the story.
Adial Pharmaceuticals, Inc trades under the ticker ADIL on NASDAQ.
Adial Pharmaceuticals, Inc is listed on NASDAQ.
The SEC Central Index Key (CIK) for Adial Pharmaceuticals, Inc is 1513525. Its filings are on SEC EDGAR.
2,625,890 shares as of 2026-08-12, per the cover page of its 10-Q filed 2026-08-14.
Our directory records Adial Pharmaceuticals, Inc under United States.
Our directory classifies Adial Pharmaceuticals, Inc as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Adial Pharmaceuticals, Inc is US00688A3041.
aibio.space lists Adial Pharmaceuticals, Inc among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as DE.
Adial Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company developing therapeutics for addiction and related disorders. Its investigational drug candidate, AD04, is being developed to treat alcohol use disorder (AUD).
AD04: Investigational drug candidate for alcohol use disorder Stage: Investigated in Phase 3 ONWARD trial; completing program in genetic subgroups.
Adial Pharmaceuticals, Inc reported a net loss of $8.0 million for the fiscal year ended Dec 31, 2025, and used $6.5 million of cash in operations, per its annual report to the SEC.
Reported a financing. SEC Form 8-K (Items 5.02,5.03,5.07,7.01,9.01). Source
Reported a shareholder vote on a reverse stock split or more authorized shares. SEC Form 8-K (Items 5.02,5.07,9.01). Source
Reported an unregistered sale of its securities. SEC Form 8-K (Items 3.02). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported a merger or acquisition agreement. SEC Form 8-K (Items 1.01,2.01,2.03,3.02,5.02,5.03,7.01,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 8.01,9.01). Source
Reported a reverse stock split. SEC Form 8-K (Items 3.03,5.03,8.01,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01,9.01). Source
Reported a reverse stock split. SEC Form 8-K (Items 5.02,5.03,5.07,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 8.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 8.01). Source
Asked shareholders to approve a reverse stock split. SEC Form DEF 14A. Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Asked shareholders to approve a reverse stock split. SEC Form PRE 14A. Source
Reported a change of independent auditor. SEC Form 8-K (Items 4.01,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported an unregistered sale of its securities. SEC Form 8-K (Items 1.01,1.02,3.02,9.01). Source
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