Adial Pharmaceuticals Inc (NASDAQ: ADIL) is having an incredibly strong start to the trading session this morning, and for good reason. The comapny announced the establishment of a Scientific Advisory Board and the appointment of a Chairperson. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from ADIL stock as a result; and
- what we’ll be watching for ahead.
ADIL Announces News
As mentioned above, Adial Pharmaceuticals is having a great day in the market today after announcing the establishment of a Scientific Advisory Board (SAB). In a press release, the company announed that it established the SAB and has appointed Dr. Giovanni Addolorato, a leading expert in the field of alcohol use disorder as its first Chairperson.
In the release, ADIL said that the SAB will help to guide the company’s strategy with regard to its lead therapeutic agent for alcohol use disorder, AD04. It is expected that the treatment will move into Phase 3 trials in the first half of 2019.
In the release, the company said that Dr. Addolorato is a professor of Gastroenterology and Hepatology at the Department of Gastroenterology and Endocrino-Metabolic Sciences at the Catholic University of Rome. He is also the director of the “Alcohol Use Disorder and Alcohol Related Disease” unit at the Catholic University of Rome.
He has published more than 600 publications on pharmacology and neurobiology of alcohol use disorders including therapeutics and treatment, and alcohol liver disease. More than 220 of these publications have been included in peer reviewed journals.
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 say:
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.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Adial Pharmaceuticals, the news proved to be overwhelmingly positive. After all, the establishment of this SAB will assist in the late stage development of AD04, bringing it one step closer to its NDA. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:12), ADIL is trading at $3.22 per share after a gain of $1.90 per share or 143.94% 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 late stage development of AD04 as the SAB will likely assist in ensuring the approval of the drug. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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