---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-043730"
form_type: "8-K"
ticker: "ADIL"
cik: "0001513525"
company_name: "ADIAL PHARMACEUTICALS, INC."
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T04:54:12.548935+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Adial Pharma Q1 net loss $2.2M; warrants raise $2.75M; AD04 Phase 2 meeting set for July

## Summary
- Cash $2.4M at March 31; with $2.75M warrant proceeds, runway into Q4 2025.
- Net loss $2.2M vs $6.5M YoY; reduction due to $4.5M 2024 inducement expense not recurring.
- Entered warrant inducement: exercised 3.7M shares at $0.74, gross proceeds ~$2.75M.
- Received six-figure milestone from Adovate for asthma candidate Phase 1; eligible for up to $83M in milestones plus royalties.
- FDA supports 505(b)(2) bridging strategy; End of Phase 2 meeting planned for July 2025.

## SEC filing metadata
- accession: 0001213900-25-043730
- form_type: 8-K
- ticker: ADIL
- cik: 0001513525
- company_name: ADIAL PHARMACEUTICALS, INC.
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513525/000121390025043730/0001213900-25-043730-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513525/000121390025043730/ea0242253-8k_adial.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-043730
- JSON: https://secwatch.observer/filing/0001213900-25-043730.json
- Plain text: https://secwatch.observer/filing/0001213900-25-043730.txt

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