earnings
confidence high
sentiment neutral
materiality 0.80
Adial reports Q2 net loss of $52M; closes Azora acquisition and $32M financing
ADIAL PHARMACEUTICALS, INC.
2026-Q2 EPS reported
-$17.97
- Net loss of $52.0M ($11.25/share) vs $2.0M loss ($4.61/share) in Q2 2025; includes $46.2M non-cash IPR&D charge.
- Completed acquisition of Azora Therapeutics, adding AT177, an oral colon-targeted AhR agonist for ulcerative colitis; IND planned for H1 2027.
- Closed initial $32M tranche (incl. $5.5M note conversion) of up to $64M private placement; cash $28.7M at June 30 vs $4.6M at March 31.
- G&A expenses rose to $5.4M from $1.2M YoY on merger costs and severance; R&D fell to $440K from $732K.
- Cash runway into H2 2027; stockholders' deficit of $38.4M with $38.5M Series A preferred pending conversion approval.