ADIAL PHARMACEUTICALS, INC. — fact timeline

ADIAL PHARMACEUTICALS, INC. reported the 2022 fiscal year ended December 31, 2022 results: net income $12.7 million.

“Net Loss was $12.7 million for the year ended December 31, 2022”

ADIAL PHARMACEUTICALS, INC. received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2)).

“February 28, 2023, the Company received written notification from Nasdaq granting the Company’s request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company’s common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to August 28, 2023, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the M”

ADIAL PHARMACEUTICALS, INC. entered into Voting Agreement with the Investor (effective 2023-02-23).

“The Company also entered into a voting agreement (the “Voting Agreement”) with the Investor, pursuant to which the Investor agrees to vote all shares of Common Stock that it beneficially owns on and after February 23, 2023 with respect to all of the proposals presented by the Company to the stockholders of the Company at the Company’s next meeting of its stockholders, including at every adjournment or postponement thereof, or any subsequent meeting of its stockholders duly called for the same or similar purposes.”

ADIAL PHARMACEUTICALS, INC. entered into Placement Agency Agreement with Joseph Gunnar & Co., LLC (effective 2023-02-23).

“The Registered Offering was also conducted pursuant to a placement agency agreement, dated February 23, 2023 (the “Placement Agency Agreement”), by and between the Company and Joseph Gunnar & Co., LLC (the “Placement Agent”).”

ADIAL PHARMACEUTICALS, INC. entered into Purchase Agreement with an accredited institutional investor valued at approximately $750,000 (effective 2023-02-23).

“entered into a securities purchase agreement (the “Purchase Agreement”) with an accredited institutional investor (the “Investor”) providing for the issuance of 1,829,269 shares (the “Shares”) of the Company’s common stock, par value $0.001 (the “Common Stock”). Pursuant to the Purchase Agreement, the Investor is purchasing the Shares for an aggregate purchase price of approximately $750,000.”

ADIAL PHARMACEUTICALS, INC. reported third quarter of 2022 results: net income $3.1 million, EPS $0.12.

“Net Loss was $3.1 million for the third quarter of 2022 as compared to a net loss of $4.3 million in the third quarter of 2021. Net loss per share for the third quarter of 2022 was $0.12, compared to a net loss of $0.22 per share for the third quarter of 2021.”

Kevin Schuyler was appointed as non-executive Chairman at ADIAL PHARMACEUTICALS, INC..

“On August 18, 2022, the Company’s board of directors also appointed Kevin Schuyler as non-executive Chairman of the board of directors.”

Cary J. Claiborne was appointed as President and Chief Executive Officer at ADIAL PHARMACEUTICALS, INC..

“On August 18, 2022, the board of directors of Adial Pharmaceuticals, Inc. (the “Company”) appointed Cary J. Claiborne, age 61, as President and Chief Executive Officer.”

Cary Claiborne was appointed as Chief Operating Officer at ADIAL PHARMACEUTICALS, INC..

“On December 6, 2021, Adial Pharmaceuticals, Inc. (the “Company”) appointed Cary Claiborne as the Company’s Chief Operating Officer.”

Cary J. Claiborne was appointed as director at ADIAL PHARMACEUTICALS, INC..

“On November 2, 2021, Cary J. Claiborne joined the board of directors (the “Board”) of Adial Pharmaceuticals, Inc. (the “Company”) to serve as a Class I member of the Board.”