Adial Pharmaceuticals falls after quarterly loss widens
ADIL•Stock performance
As of the last close, ADIL was down 27.6% year to date.
Quarterly loss and net loss widen
Shares of drug developer Adial Pharmaceuticals (ADIL.O) fell 22.6% to $3.08 in premarket trading after the company reported a wider quarterly loss.
The company's second-quarter loss widened to $11.25 per share from $4.61 a year earlier. Net loss widened to $52 million from $2 million, mainly due to a $46.2 million non-cash charge tied to the acquisition of Azora Therapeutics and higher administrative expenses.
Azora acquisition shifts focus to inflammatory diseases
ADIL completed the acquisition of Azora, adding the experimental ulcerative colitis drug AT177 and shifting its focus to inflammatory diseases.
The company plans to seek approval to begin clinical testing of AT177 in the first half of 2027, with an early-stage trial expected to start in the second half of 2027.
