Adial Pharmaceuticals Schedules Business Update Conference Call to Discuss Planned Acquisition of Purnovate and other Recent Developments

Rhea-AI Summary

Adial Pharmaceuticals (NASDAQ:ADIL; ADILW) announced a conference call on December 16, 2020, to discuss its planned acquisition of Purnovate and recent developments. The call will be accessible via phone and online, with a replay available for one year. Adial focuses on treatments for addiction, particularly its lead product AD04, which targets Alcohol Use Disorder (AUD). A Phase 2b trial of AD04 indicated statistical significance in reducing drinking behavior with no significant safety issues. The company aims to explore AD04's potential for other addictions.

Positive

• Planned acquisition of Purnovate, potentially expanding product offerings.
• AD04 demonstrated statistical significance in reducing drinking frequency and quantity.
• No serious adverse events reported in the Phase 2b clinical trial.

Negative

• Forward-looking statements indicate risks in expanding AD04's use for other disorders.
• Regulatory challenges and uncertainties regarding product approvals and market acceptance.

CHARLOTTESVILLE, VA / ACCESSWIRE / December 10, 2020 / Adial Pharmaceuticals, Inc. (NASDAQ:ADIL; ADILW) ("Adial"), a clinical-stage biopharmaceutical company focused on the development of treatments for addiction, today announced that it will host a conference call at 11:00 AM, Eastern Time on Wednesday, December 16, 2020, to discuss the planned acquisition of Purnovate as well as additional recent developments.

The conference call will be available via telephone by dialing toll free 877-407-0782 for U.S. callers or + 201-689-8567 for international callers, or on the Company's Investors section of the website: https://ir.adialpharma.com/.

A webcast replay will be available on the Company's Investor section of the website, https://ir.adialpharma.com/, through December 16, 2021. A telephone replay of the call with be available approximately one hour following the call, through Wednesday, December 30, 2020 and can be accessed by dialing 877-481-4010 for U.S. callers or + 919-882-2331 for international callers and entering conference ID: 39164.

About Adial Pharmaceuticals, Inc.

Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company's lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of Alcohol Use Disorder (AUD) and is currently being investigated in the Company's landmark ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Company's proprietary companion diagnostic genetic test. A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported). AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. www.adialpharma.com

Note on Forward-looking Statements

This communication contains certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding the potential of AD04 to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, our ability to expand the use of AD04 for use in patients with Opioid Use Disorder, gambling and obesity, the ability of AD04 therapy to perform as designed, to demonstrate safety and efficacy, as well as results that are consistent with prior results, our ability to enroll patients and complete the clinical trials on time and achieve desired results and benefits, our ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products, our ability to maintain our license agreements, the continued maintenance and growth of our patent estate, our ability to establish and maintain collaborations, our ability to obtain or maintain the capital or grants necessary to fund its research and development activities, and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2019, subsequent Quarterly Reports on Form 10-Q, current reports on Form 8-K and other documents filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

Contact:

Crescendo Communications, LLC
David Waldman / Natalya Rudman
Tel: 212-671-1021
Email: dwaldman@crescendo-ir.com

SOURCE: Adial Pharmaceutical, Inc.

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FAQ

What is the purpose of Adial's acquisition of Purnovate?

The acquisition is expected to expand Adial's product offerings and enhance its focus on addiction treatments.

When will the conference call discussing the acquisition take place?

The conference call is scheduled for December 16, 2020, at 11:00 AM Eastern Time.

What are the main findings from the AD04 clinical trials?

The Phase 2b trial of AD04 showed significant reductions in frequency and quantity of drinking, with no reported serious safety concerns.

What are the potential risks mentioned regarding AD04's development?

Risks include regulatory hurdles, the need for further approvals, and uncertainties in market acceptance for various addictive disorders.