Adial Pharma reported a FY 2025 net loss of USD 8.0 million, compared with a FY 2024 net loss of USD 13.2 million. FY 2025 operating expenses were USD 7.8 million, including research and development expense of USD 2.6 million (down 19%) and general and administrative expense of USD 5.2 million (up 2%). FY 2025 interest income was USD 0.2 million, and the company recorded USD 0.2 million of other income (expense). Net cash used in operating activities in FY 2025 was USD 6.5 million, while net cash provided by financing activities was USD 8.5 million. Cash and cash equivalents totaled USD 5.9 million at December 31, 2025, which Adial Pharma said is expected to fund operations into the second half of 2026. On the business side, Adial Pharma said it is focused on completing the clinical development program for its lead candidate AD04 for alcohol use disorder in specified genetic subgroups, following subgroup analyses from its Phase 3 ONWARD trial and regulatory feedback received in Q3 2025. The company’s current planning assumptions call for two additional Phase 3 trials (an adaptive design trial versus placebo and a subsequent placebo-controlled confirmatory trial), though it noted it is possible it may conduct only one additional Phase 3 trial depending on the regulatory pathway. Adial Pharma also said it plans to begin a Phase 3 study in 2026 pending adequate funding, alongside clinical validation of a new cheek swab diagnostic genetic test, and disclosed a contract with a vendor for approximately USD 2.3 million for drug product manufacturing, with about USD 1.9 million remaining under the cancellable agreement. Adial Pharma highlighted multiple 2025 financing actions, including a May 2025 warrant inducement that generated approximately USD 2.2 million of net proceeds, a June 2025 best-efforts offering that generated approximately USD 3.0 million of net proceeds, and a November 2025 warrant inducement that generated approximately USD 2.6 million of net proceeds. The company also reported net proceeds of approximately USD 0.5 million from its A.G.P. at-the-market program during FY 2025, and said it effected a 1-for-25 reverse stock split on February 5, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Adial Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-024175), on March 05, 2026, and is solely responsible for the information contained therein.
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