Adial Pharma reports FY2022 net loss $12.7M, cash $4.0M; advances AD04 regulatory meetings

ADIAL PHARMACEUTICALS, INC.

2023-Q1 EPS reported -$0.11

Net loss $12.7M for FY2022 vs $19.4M in FY2021; cash and equivalents $4.0M.
R&D expenses down 50% to $4.2M; G&A down 2% to $9.3M.
ONWARD Phase 3: AD04 significantly reduced heavy drinking days in heavy drinkers; identified two target genotypes.
Secured meetings with FDA, Swedish MPA, German BfArM in Q2 2023 for AD04 approval path.
Option to sell Purnovate to Adovate; potential milestones up to $83M plus 19.9% equity stake.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ADIAL PHARMACEUTICALS, INC. reported the 2022 fiscal year ended December 31, 2022 results: net income $12.7 million.

Period: the 2022 fiscal year ended December 31, 2022
Net income: $12.7 million
Result: reported results

Exact text from the filing

Net Loss was $12.7 million for the year ended December 31, 2022

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ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-024937

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