Adial Pharmaceuticals, Inc - ADIL STOCK NEWS

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) announced it received $720,000 from an $800,000 private placement, originally disclosed on November 10, 2021. The shares, priced at $4.00 each, were fully subscribed with 200,000 shares purchased. This funding was confirmed following the SEC's Notice of Effectiveness for the Form S-3 Registration Statement. Adial is focused on addiction therapies, particularly its lead investigational drug, AD04, which is under evaluation in the ONWARD™ Phase 3 trial aimed at treating Alcohol Use Disorder.

Adial Pharmaceuticals has appointed Cary J. Claiborne as Chief Operating Officer, while he remains on the Board of Directors. Claiborne's role includes overseeing strategic growth initiatives and commercial preparations for AD04, aimed at treating Alcohol Use Disorder (AUD). CEO William Stilley emphasized Claiborne's extensive experience in the biopharmaceutical sector, particularly in addiction treatment. Claiborne expressed enthusiasm for advancing the company’s therapeutic pipeline, including the promising AD04 and Purnovate's adenosine platform, which holds significant market potential.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) reported promising preclinical results for its lead compound PNV2 in treating triple negative breast cancer. The study showcased that PNV2 significantly reduced metastatic tumors in the lungs of mice compared to a control group, with luciferase activity indicating much lower cancer presence. Purnovate, Adial's subsidiary, plans to advance PNV2 to clinical trials in 2022, overcoming past solubility challenges associated with adenosine analogs. The company remains focused on its ongoing Phase 3 trial for its lead drug candidate for Alcohol Use Disorder.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) will host a conference call on November 18, 2021, at 11:00 A.M. ET to discuss clinical updates and business developments. Investors can join via phone or listen online. The conference will feature information on the lead investigational drug, AD04, currently in a pivotal Phase 3 trial for Alcohol Use Disorder (AUD). AD04 showed promising Phase 2b results with significant reductions in drinking behaviors. A replay of the call will be accessible for a year, reflecting ongoing investor engagement.

Adial Pharmaceuticals has secured $1,255,000 in funding to bolster its clinical trial initiatives for the non-opioid pain treatment candidate PNV-5030. This includes $800,000 from a private placement at $4.00 per share and $455,000 from the exercise of stock options by Mark Howard Peikin, the Chief Strategy Officer. Peikin's cash exercise supports drug development, enhancing Adial's financial position for ongoing and future trials, specifically the pivotal Phase 3 trial of its lead drug for Alcohol Use Disorder (AUD).

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) announced a conference call on November 18, 2021, at 11:00 A.M. ET to provide updates on its clinical trials and business progress. The company is developing AD04, a serotonin-3 receptor antagonist for treating Alcohol Use Disorder (AUD). AD04 is in a pivotal Phase 3 trial and has shown promising Phase 2b results, indicating a significant reduction in drinking frequency and quantity with no major safety concerns. Adial also explores treatments for other addictive disorders and develops adenosine analogs for pain management.

Adial Pharmaceuticals (NASDAQ: ADIL; ADILW) announced the appointment of Cary J. Claiborne to its Board of Directors, expanding the board to seven members. Claiborne brings extensive experience, having previously served as CFO of Indivior PLC and Sucampo Pharmaceuticals. His expertise in governance and finance is expected to support Adial as it advances its Phase 3 clinical trial of AD04 for alcohol use disorder and prepares for potential commercialization. Adial aims to leverage Claiborne's track record to enhance its corporate governance and strategic initiatives.

Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) announced promising pre-clinical results for PNV-5030, a potential pain treatment. The compound showed over 1000-fold selectivity over the adenosine A1 receptor and significantly reduced pain in a mouse model. When combined with morphine, PNV-5030 achieved similar pain reduction to higher morphine doses. Purnovate, a subsidiary of Adial, plans to advance PNV-5030 into clinical trials in 2022, aiming to provide an alternative or complement to opioid use.

Adial Pharmaceuticals announced positive pre-clinical results for PNV-5030, indicating its potential to reduce opioid use and alleviate pain. PNV-5030 exhibited over 1000-fold selectivity over the adenosine A1 receptor and demonstrated superior solubility compared to other compounds in its class. In mouse models, PNV-5030 alone provided significant pain relief similar to low doses of morphine, and remarkably, when combined with morphine, it achieved pain relief equivalent to a higher morphine dose. The company plans to advance PNV-5030 into clinical trials in 2022.