Proactiveinvestors USA & Canada Adial Pharmaceuticals Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Adial Pharmaceuticals Inc RSS feed en Tue, 18 Jun 2019 20:01:41 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Adial Pharmaceuticals announces closing of public offering for gross proceeds of $9.2M ]]> https://www.proactiveinvestors.com/companies/news/215358/adial-pharmaceuticals-announces-closing-of-public-offering-for-gross-proceeds-of-92m-215358.html Adial Pharmaceuticals Inc (NASDAQ:ADIL) announced Tuesday the closing of an underwritten public offering garnering gross proceeds of $9.2 million.

The Charlottesville, Virginia, company said in a statement that the funds will be used for the initial Phase 3 trial of AD04 for the treatment of alcohol use disorder.

Shares of Adial climbed 0.3% to $3.70 in Tuesday’s after-hours trading.

READ: Adial Pharmaceuticals looks to apply its alcohol-use disorder drug to opioid-use disorder

Maxim Group LLC acted as the book-running manager while Joseph Gunnar & Co. acted as a co-manager in connection with the offering.

Adial closed a public offering of 2,845,000 shares of its common stock and warrants to purchase up to 2,133,750 shares of its common stock. That included 370,000 shares of common stock and warrants to purchase up to 277,500 shares of common stock issued upon the partial exercise of the underwriters’ option to buy additional securities to cover overallotments.

Each share of common stock was sold together with a warrant to purchase 0.75 of one share of common stock at a combined price to the public of $3.25.The warrants are immediately exercisable at a price of $4.0625 per share of common stock, subject to adjustment, and will expire five years from the date of issuance

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 26 Feb 2019 16:40:00 -0500 https://www.proactiveinvestors.com/companies/news/215358/adial-pharmaceuticals-announces-closing-of-public-offering-for-gross-proceeds-of-92m-215358.html
<![CDATA[News - Adial Pharmaceuticals looks to apply its alcohol-use disorder drug to opioid-use disorder ]]> https://www.proactiveinvestors.com/companies/news/211243/adial-pharmaceuticals-looks-to-apply-its-alcohol-use-disorder-drug-to-opioid-use-disorder-211243.html Adial Pharmaceuticals Inc (NASDAQ:ADIL) plans to expand the potential of its lead drug AD04, designed to treat alcohol-use disorder, to benefit patients with opioid-use disorder.

A Phase 2b clinical trial of the drug showed “promising results” in treating patients with alcohol use disorder, reducing the frequency and quantity of drinking without any serious adverse effects reported.

Shares more than doubled by Thursday’s closing bell, dipping around 8% to $3.85 in Friday pre-market trading.

READ: Anavex Life Sciences doses patients in Phase 2 ANAVEX2-73 Parkinson disease dementia study

 “We are expanding our activities around AD04 to include opioid use disorder (OUD) and believe this program has significant potential since the physiology and neuro-transmitters involved in opioid addiction are similar to alcohol and could be expected to be modulated by a serotonin-3 receptor antagonist,” said CEO William Stilley in the company’s press statement.

The company is hopeful that AD04 can bring something to the table in an underserved market as the use of opioid and synthetic opioids, such as fentanyl, continue to contribute to overdose deaths in the US.

The Centers for Disease Control estimate that 72,000 people in the US died of drug overdoses in 2017, linking two-thirds of those deaths to opioids.

The clinical-stage biopharmaceutical company focuses on the development of treatments for addictions.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

 

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Fri, 14 Dec 2018 08:37:00 -0500 https://www.proactiveinvestors.com/companies/news/211243/adial-pharmaceuticals-looks-to-apply-its-alcohol-use-disorder-drug-to-opioid-use-disorder-211243.html
<![CDATA[Media files - Adial Pharmaceuticals making progress with alcohol use disorder drug ]]> https://www.proactiveinvestors.com/companies/stocktube/10693/adial-pharmaceuticals-making-progress-with-alcohol-use-disorder-drug-10693.html Tue, 02 Oct 2018 11:32:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10693/adial-pharmaceuticals-making-progress-with-alcohol-use-disorder-drug-10693.html