--- title: "Adial reports first quarter 2026 results" url: "https://aibio.space/news/adial-reports-first-quarter-2026-results-ad04-business-update/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-11" section: "Company Updates" tickers: "NASDAQ:ADIL" source: "https://www.sec.gov/Archives/edgar/data/1513525/000121390026054219/ea028994701ex99-1.htm" summary: "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." --- By the aibio.space news desk. Sources - [Adial Pharmaceuticals, Inc press release (2026-05-11)](https://www.sec.gov/Archives/edgar/data/1513525/000121390026054219/ea028994701ex99-1.htm) - [Adial Pharmaceuticals, Inc 10-K (2026-03-05): business](https://www.sec.gov/Archives/edgar/data/1513525/000121390026024175/ea0279150-10k_adial.htm) - [Adial Pharmaceuticals, Inc financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1513525/000121390026024175/) [ADIL](https://aibio.space/companies/adial-pharmaceuticals/) 2026-05-11 # Adial reports first quarter 2026 results and an AD04 business update Tickers [ADIL](https://aibio.space/companies/adial-pharmaceuticals/) 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. ## Key facts - **Company**: Adial Pharmaceuticals, Inc (NASDAQ: ADIL) - **News type**: Company Updates - **Primary source**: [Adial Pharmaceuticals, Inc press release (2026-05-11)](https://www.sec.gov/Archives/edgar/data/1513525/000121390026054219/ea028994701ex99-1.htm) *Removing DNA from a microtube with a pipette. Photo: Maggie Bartlett, NHGRI, Public domain, via Wikimedia Commons. The picture shows the field, not the companies named.* Adial Pharmaceuticals, Inc. (Nasdaq: [ADIL](https://aibio.space/companies/adial-pharmaceuticals/)) reported its financial results for the first quarter ended March 31, 2026 and gave a business update in a press release dated May 11, 2026. The company said that cash and cash equivalents were $4.6 million at March 31, 2026, down from $5.9 million at December 31, 2025. It believes that cash will fund operating expenses into the second half of 2026, based on its currently committed development plans. The release is attached to a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1513525/000121390026054219/ea028994701ex99-1.htm) filed the same day. ## First quarter results Research and development expense fell by about $314 thousand, or 42%, to $433 thousand in the first quarter of 2026, compared with $747 thousand in the same period of 2025. Adial said the decrease was mainly due to lower CMC spending and no new data analytics activity in 2026. General and administrative expense rose by about $49 thousand, or 3%, to $1.6 million, from $1.5 million a year earlier. The company attributed the increase mainly to higher business development costs. The net loss was $2.0 million for the first quarter of 2026, compared with $2.2 million for the first quarter of 2025. Adial said the lower loss came mainly from reduced research and development spending. The prior-year quarter included a milestone gain of approximately $150 thousand that did not recur in 2026. ## Regulatory and strategic developments Chief executive Cary Claiborne said recent FDA policy discussions indicate that, in certain scientifically justified cases, approval may be supported by one adequate and well-controlled study together with confirmatory evidence, rather than two independent pivotal trials. He said Phase 3 trials are the most capital-intensive stage of development, and that the framework could reduce costs and accelerate the timeline to a new drug application for AD04. Claiborne also cited bipartisan support for patient-centered endpoints in alcohol use disorder and recently introduced legislation on access for veterans. On the partnership front, the company pointed to its collaboration framework with Molteni Farmaceutici, which it described as a first step toward a commercial pathway for AD04 in Europe, subject to a definitive agreement. The company said it has also published its international patent application. If granted, the company expects the application to extend protection for AD04 through at least 2045. The release quotes Claiborne saying: "We are actively pursuing financing through various potential sources and other strategic plans and strategic alternatives." The company said these developments position it to advance AD04 with more clarity, efficiency and confidence if it can obtain sufficient funding or a strategic partner. ## The company and its program Adial describes itself as a clinical-stage biopharmaceutical company focused on treatments for addictions and related disorders. Its lead investigational product, AD04, is being developed as a genetically targeted serotonin-3 receptor antagonist for alcohol use disorder in heavy drinking patients. The release says Adial is planning a new Phase 3 program for patients with certain target genotypes, identified with its proprietary diagnostic genetic test, pending the availability of adequate funds. The company says the ONWARD Phase 3 trial showed promising results in reducing drinking, with no overt safety or tolerability concerns. The release gives no statistics for that claim, and the 10-K says the current program rests on subgroup data from the trial. The company's 10-K for 2025 reported research and development expense of $2.6 million for 2025, compared with $3.2 million for 2024. The net loss was $8.0 million for 2025 and $13.2 million for 2024. Year-end cash and cash equivalents were $5.9 million at the end of 2025. ## What the company has not secured Cash of $4.6 million at March 31, 2026 is guided to last only into the second half of 2026, and the annual report said cash would not cover twelve months. The company is looking for financing, a partner or other strategic alternatives. The lower loss comes from a 42% cut in research spending, which slows the program. The FDA comments are policy discussions, not a ruling on AD04, and the planned Phase 3 waits on funding. The Molteni framework is not a definitive agreement, and the release gives no date for it or for a financing. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ADIL Adial Pharmaceuticals, Inc NASDAQ ยท United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/adial-reports-first-quarter-2026-results-ad04-business-update/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Adial reports first quarter 2026 results", 2026-05-11, https://aibio.space/news/adial-reports-first-quarter-2026-results-ad04-business-update/