Adial Pharma Q3 net loss narrows to $3.1M; CEO promoted, AD04 regulatory submission in progress

ADIAL PHARMACEUTICALS, INC.

2022-Q3 EPS reported -$0.40

Net loss of $3.1M ($0.12/shr) vs $4.3M ($0.22/shr) in Q3 2021.
Cash and equivalents $5.8M as of Sep 30, 2022, from $6.1M at Dec 31, 2021.
R&D expenses fell 26% to $1.3M; G&A expenses fell 18% to $1.9M vs year-ago quarter.
Cary Claiborne promoted to President and CEO; William Stilley named CEO of Purnovate subsidiary.
Advancing AD04 ONWARD Phase 3 results to regulators; active partnership discussions for AD04 and Purnovate compounds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ADIAL PHARMACEUTICALS, INC. reported third quarter of 2022 results: net income $3.1 million, EPS $0.12.

Period: third quarter of 2022
Net income: $3.1 million
EPS: $0.12
Result: reported results

Exact text from the filing

Net Loss was $3.1 million for the third quarter of 2022 as compared to a net loss of $4.3 million in the third quarter of 2021. Net loss per share for the third quarter of 2022 was $0.12, compared to a net loss of $0.22 per share for the third quarter of 2021.

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ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-22-072556

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