STOCKS TELEGRAPH

Tag: NASDAQ: ADIL

  • Adial Pharmaceuticals, Inc. (ADIL) Faces Pre-market Pressure with 7% Drop

    Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) is facing a turbulent start to the week, with its pre-market price dropping an additional 7% after Friday’s 5% decline. The stock’s trading volume remains lower than average, suggesting that the recent price movement is driven by a few players rather than broad market sentiment.

    Despite the lack of significant news, investors are wary of a potential profit-taking dip in the coming days. However, bulls seem optimistic for now, riding the wave of uncertainty.

    Background

    Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies for addiction and related disorders. Its lead investigational drug, AD04, targets the serotonin-3 receptor to treat Alcohol Use Disorder (AUD) in heavy drinking patients. AD04 has shown promising results in reducing heavy drinking, with no major safety concerns reported.

    The stock has seen a significant decline over the past year, falling from $14 to $1, raising concerns among investors.

    Cary Claiborne, President and CEO of Adial, expressed optimism about the progress made in 2023, particularly in refining the clinical development plan for AD04. The company is finalizing a plan to conduct two Phase 3 clinical trials in parallel to expedite potential approval in the US.

    Other Developments

    In other developments, Adial appointed Tony Goodman as Chief Operating Officer to oversee strategic growth initiatives, including clinical development and commercial planning for AD04. The company also received key patents from the US Patent and Trademark Office (USPTO) for its genetic diagnostic to detect select genotypes for the treatment of AUD and opioid use disorder (OUD) with AD04.

    Financially, Adial reported $2.8 million in cash and cash equivalents as of December 31, 2023, compared to $4.0 million in 2022. The company received $4.3 million from recent warrant exercises, which it believes will fund its operations into the first quarter of 2025.

    Conclusion

    Despite the recent price decline, Adial remains optimistic about the potential approval and commercial launch of AD04, with ongoing efforts to secure strategic partnerships and advance clinical trials. Investors will be watching closely for any updates on these developments.

  • Why Adial Pharmaceuticals (NASDAQ: ADIL) Is Soaring Today?

    Why Adial Pharmaceuticals (NASDAQ: ADIL) Is Soaring Today?

    Shares of Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) traded up 114.89% after the company announced that it has received the Emergency Use Authorization (EUA) from FDA for Assure/FaStep® COVID-19 IgG/IgM Rapid Test Device. This Emergency Use Authorization from the FDA is the first antibody point-of-care test for COVID-19.

    The rapid test device, the blood samples were used using fingerstick as compared to other approved tests which are recently using only plasma, serum, or venous blood. After the authorization from FDA, fingerstick blood samples can be used with the FaStep COVID-19 IgG/IgM Rapid Test Device for the test in point-of-care settings, including urgent care centers, emergency rooms, doctors’ offices, hospitals, or other locations where there is a licensed healthcare professional.

    Previously, this FaStep COVID-19 IgG/IgM Rapid Test Device is used for the detection of SARS-CoV-2 antibodies in the individuals and it is used to identify the recent or previous COVID-19 infection. Various other kits were present but they haven’t got the authorization for the fingerstick blood sample.

    Shares of Adial Pharmaceuticals soared 114.89% after it gained +1.62 during the trading session of Tuesday. It has a closing price of $3.03. In the past 52-weeks of trading, this company’s stock fluctuated between the low of $1.00 and a high of $3.17. It has moved up to 203.00% from its 52-weeks low and moved down -4.42% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 13.90. This company’s market capitalization has remained high, hitting $41.06 million at the time of writing.

    Adial has announced that it has started the sales of the FaStep COVID-19 IgG/IgM rapid antibody test kits to healthcare providers and hospitals through The iRemedy Healthcare Companies, Inc. (iRemedy) network and e-commerce platform. This company has earlier filed for Expedited Review of AD04 with the FDA. AD04 is the drug candidate used for the treatment of Alcohol Use Disorder (AUD)