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Background
Old News
Recent Developments
Upcoming Catalyst
Technicals/Notes
Background
- Adial Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for addictions
- ADIL’s lead asset (AD04) is in Phase 3 of development as a therapy for Alcohol Use Disorder (AUD)
- The company is targeting individuals with AUD and a certain genetic makeup conducive for the treatment
Old News
- Data from a Phase 2b study of AD04 showed promising results in reducing frequency and quantity of drinking and heavy drinking with no overt safety concerns.
- Last year the European Medicines Agency (EMA) accepted ADIL’s Pediatric Investigation Plan for AD04 in pediatric patients with AUD (ages 12 to 17)
- On 12/10/20 ADIL announced definitive plans to acquire Purnovate, LLC in a cash and stock-transaction
- Purnovate is a clinical-stage pharma company developing non-opioid drugs for pain relief and therapies for addictionÂ
Recent Developments
- On 2/25/21Â the company informed investors that the study reached 50% enrolled and 66% of planned patients screening visits completed
- 5/18/21Â highlighted on multiple broadcasts as the nation begins to look at impacts of the pandemic through alcohol use
- 6/28/21Â joined the Russell microcap index
- 6/06/21Â Phase 3 onward trial met its screening target and is nearing enrollment completion
- 6/24/21Â shares declined after news that the FDA would like to see further maturity of AD04 before awarding Fast Track Designation
- After completing a $2.1 million private placement at $3 in March, on 7/07/21 the company announced a $5 million above the market private placement at $3 per share
- 7/14/21Â highlighted positive pre clinical results from its Adenosine pain platform, noting that the data supports further testing for pain reduction as a possible alternative to opioids
Highlights from Earnings Q1 2021 (5/17/21)
- $5.6 million cash and equivalents which the company expects to be sufficient to fund operations into the fourth quarter of 2021
Upcoming Catalyst
- Projects completion of Phase 3 clinical trial near in the first quarter of 2022
- Top-line data from this 24-week study is expected in 4Q21
Technicals/Notes
- With cash through the end of the year and trials beginning to progress once again, ADIL appears to present an opportunity with recent private placements at $3 per shareÂ
