---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-069142"
form_type: "8-K"
ticker: "ADIL"
cik: "0001513525"
company_name: "ADIAL PHARMACEUTICALS, INC."
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:08:32.314859+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Adial Pharmaceuticals Q2 net income $1.1M; plans two Phase 3 trials for AD04

## Summary
- Net income of $1.1M vs net loss of $3.8M in Q2 2022; includes $2.66M gain from Purnovate sale.
- Cash and equivalents $1.2M at June 30, 2023, down from $4.0M at Dec 31, 2022; runway into Q1 2024.
- Sale of Purnovate subsidiary reduces cash burn; Adial received $450K upfront, up to $83M in milestones plus 19.9% equity stake in Adovate.
- FDA confirmed primary endpoint (Percentage No Heavy Drinking Days) for AD04; planning two parallel Phase 3 trials.
- R&D expense down 37%, G&A down 59% YoY due to lower trial activities and cost reductions.

## SEC filing metadata
- accession: 0001213900-23-069142
- form_type: 8-K
- ticker: ADIL
- cik: 0001513525
- company_name: ADIAL PHARMACEUTICALS, INC.
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513525/000121390023069142/0001213900-23-069142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513525/000121390023069142/ea183948-8k_adialpharm.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-069142
- JSON: https://secwatch.observer/filing/0001213900-23-069142.json
- Plain text: https://secwatch.observer/filing/0001213900-23-069142.txt

## Key facts
- Earnings Releases
  ADIAL PHARMACEUTICALS, INC. reported second quarter of 2023 results: net income $1.1 million.
  - Period: second quarter of 2023
  - Net income: $1.1 million
  - Result: reported results
  source text: Adial Pharmaceuticals Reports Second Quarter 2023 Financial Results
  evidence_url: https://www.sec.gov/Archives/edgar/data/1513525/000121390023069142/0001213900-23-069142-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.