Adial Pharmaceuticals Reports 2023 Fiscal Year Financial Results and Provides Business Update
GLEN ALLEN, Va., April 02, 2024 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today provided a business update and reported its financial results for the 2023 fiscal year ended December 31, 2023.
- GLEN ALLEN, Va., April 02, 2024 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today provided a business update and reported its financial results for the 2023 fiscal year ended December 31, 2023.
- Specifically, we conducted meetings and received favorable feedback from both US and European regulators, allowing us to refine our clinical development plan.
- Cash and cash equivalents were $2.8 million as of December 31, 2023, compared to $4.0 million as of December 31, 2022.
- Net Loss was $5.1 million for the year ended December 31, 2023, compared to a net loss of $12.7 million for the year ended December 31, 2022.