Adial Q1 net loss $2.9M; cash $2.3M; sells Purnovate for up to $83M milestones

ADIAL PHARMACEUTICALS, INC.

2023-Q1 EPS reported -$0.11

Q1 2023 net loss $2.9 million, flat YoY; cash $2.3M vs $4.0M at Dec 2022.
Sold Purnovate assets to Adovate for $0.45M upfront + up to $83M milestones + 19.9% equity stake.
Engaged The Keswick Group for partnering; awaiting regulatory meeting minutes from FDA, EMA agencies.
Closed ATM offering of 1.83M shares at $0.41 for gross $750K.
Cash runway expected into Q1 2024, helped by non-dilutive Purnovate sale proceeds.

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 0.9

ADIAL PHARMACEUTICALS, INC. reported financial results for first quarter of 2023.

Period: first quarter of 2023
Result: reported results

Exact text from the filing

Adial Pharmaceuticals, Inc., a Delaware corporation (the “Company”), issued a press release that included financial information for the fiscal quarter ended March 31, 2023.

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-039032

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.