Adial Pharma Q3 net loss narrows to $1.4M; $4M private placement extends runway into Q4 2024

ADIAL PHARMACEUTICALS, INC.

2023-Q3 EPS reported -$2.86

Net loss $1.4M in Q3 2023, down 55% from $3.1M in Q3 2022.
R&D expenses decreased $489K (70%) YoY as AD04 trial activities wound down.
G&A expenses decreased $708K (38%) YoY due to lower compensation and headcount.
Cash $315K at Sep 30; $4M private placement (net $3.5M) completed post-quarter extends runway into Q4 2024.
Planning two parallel Phase 3 trials for AD04; in confidentiality agreements with potential partners.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ADIAL PHARMACEUTICALS, INC. reported the third quarter of 2023 results: net income Net Loss was $1.4 million for the three months ended September 30, 2023.

Period: the third quarter of 2023
Net income: Net Loss was $1.4 million for the three months ended September 30, 2023
Result: reported results

Exact text from the filing

Adial Pharmaceuticals Reports Third Quarter 2023 Financial Results and Provides Business Update

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

ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-087129

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