Adial Pharma FY2024 net loss $13.2M, cash $3.8M; FDA confirms AD04 505(b)(2) path

ADIAL PHARMACEUTICALS, INC.

Net loss $13.2M in FY2024 versus $5.1M in FY2023; widened primarily on $4.5M non-cash inducement charge.
Cash and equivalents $3.8M at year-end; expects to fund operations into H2 2025.
R&D spend rose $1.9M (+155%) driven by PK study and CMC manufacturing for AD04 Phase 3.
FDA confirmed 505(b)(2) bridging strategy; Phase 3 trial to begin in 2025.
Appointed Vinay Shah as CFO in November 2024; secured three new U.S. patents for AD04 genetic diagnostics.

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