Adial Pharmaceuticals Inc (NASDAQ: ADIL) is headed up in the market again this morning, following up on the incredibly strong gains seen yesterday. The gains are ultimatley the result of the company’s announcement with regard to the establishment of a Scientific Advisory Board. Today, we’ll talk about:
- The news;
- why it’s so exciting for investors;
- what we’re seeing from ADIL stock; and
- what we’ll be watching for ahead.
ADIL Announces The Establishment Of An SAB
As mentioned above, Adial Pharmaceuticals is having yet another incredibly strong day in the market today, following up on gains seen yesterday. The gains are the result of news that the company is in the process of establishing a Scientific Advisory Board (SAB). The SAB will assist in the lage-stage development of AD04, the company’s lead candidate for alcohol use disorder (AUD).
In the release, ADIL announced that Dr. Giovanni Addolorato has been appointed as the first member and the Chairperson of the SAB. Dr. Addolorato is a professor of Gastroenterology and the Director of the Alcohol Use Disorder and Alcohol Related Disease Unit at the Catholic University of Rome. With more than 600 publications on pharmacology and neurobiology of acohol use disorders and more than 220 of these publications being featured in peer reviewed journals, Dr. Giovanni brings quite a bit of experience in the space to the table.
In a statement, Dr. Addolorato had the following to offer:
I am delighted to join Adial Pharmaceuticals’ SAB given the overwhelming market need for effective alcohol use disorder treatment and Adial’s encouraging Phase 2b data, which also showed a strong safety profile without the negative side effects of current drugs on the market. I look forward to supporting the ongoing development AD04, which is designed to reduce cravings without the requirement of abstinence prior to or during treatment.
The above statement was followed up by William Stilley, CEO at ADIL. Here’s what he had to offer:
We are pleased to officially launch our new Scientific Advisory Board to support the development efforts of AD04, our lead product candidate. We welcome Dr. Addolorato as the first member of our SAB, as he brings tremendous knowledge and experience in AUD and is expected to play an integral role as we prepare to begin our Phase 3 clinical trial.
Why This News Is So Important
Ultimately, there are a couple of things about this news that are exciting to Adial Pharmaceuticals’ investors. First and foremost, the SAB is likely to be led by some of the strongest minds in the space. This will ultimately help ADIL ensure that their data is strong and push the company’s AD04 candidate in the right direction.
Moreover, the press release served as a reminder that the Phase 3 trial for AD04 is expected to begin in the first half of next year. This is a catalyst that has the potential to lead to even further growth. Should the trial go well, ADIL will likely submit its NDA shortly after the analysis of data, serving as yet another catalyst.
At the end of the day, this announcement one that shows that not only is ADIL headed in the right direction, it has several catalysts in the near term.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Adil Pharmaceuticals, the news proved to be overwhelmingly positive, and is leading to continued excitement today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:14), ADIL is trading at $4.34 per share after a gain of $1.54 per share or 55.00% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on ADIL. In particular, we’re interested in following the continued development of AD04 as the treatment heads into late stage clinical studies. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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