Adial Pharmaceuticals Reports CEO Op-Ed Featured on Nasdaq.com
July 29 2021 - 9:30AM
Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW),
a clinical-stage biopharmaceutical company focused on the
development of treatments for addictions, today announced that an
op-ed from Adial’s CEO, William Stilley, has been featured on
Nasdaq.com.
The op-ed, titled “Why We Need More ‘Moonshot’
Businesses” is available at:
https://www.nasdaq.com/articles/why-we-need-more-moonshot-businesses-2021-07-28
In the article, Mr. Stilley discusses the need
to tackle monumental challenges facing our nation in order to build
stronger businesses, stronger industries and a more resilient
economy. Among the topics discussed, Mr. Stilley highlights the
need to address the devastating impacts of Alcohol Use Disorder,
which afflicts more than 30 million people in the United
States alone. The CDC reports that excessive alcohol use
is responsible for more than 95,000 deaths in the United States
each year, and shortens the lives of those who die by an average of
almost 29 years. Figures cited by government agencies indicate
alcohol misuse costs the country $250 billion, and costs
workplaces as much as $68 billion, each year.
Mr. Stilley noted in the article, “There’s a
feeling you get when you wake up in the morning knowing that the
work you are doing can impact people’s lives in a substantial,
positive way. It imbues you with a sense of meaning. And with each
step forward, you also get excited about the returns for everyone
involved.”
About Adial Pharmaceuticals,
Inc.
Adial Pharmaceuticals is a clinical-stage
biopharmaceutical company focused on the development of treatments
for addictions. The Company’s lead investigational new drug
product, AD04, is a genetically targeted, serotonin-3 receptor
antagonist, therapeutic agent for the treatment of Alcohol Use
Disorder (AUD) and is currently being investigated in the Company’s
landmark ONWARD™ pivotal Phase 3 clinical trial for the potential
treatment of AUD in subjects with certain target genotypes, which
are to be identified using the Company’s proprietary companion
diagnostic genetic test. A Phase 2b clinical trial of AD04 for the
treatment of AUD showed promising results in reducing frequency of
drinking, quantity of drinking and heavy drinking (all with
statistical significance), and no overt safety concerns (there were
no statistically significant serious adverse events reported). AD04
is also believed to have the potential to treat other addictive
disorders such as Opioid Use Disorder, gambling, and obesity.
Purnovate, Inc., a division of Adial Pharmaceuticals, is developing
adenosine analogs for the treatment of pain and other disorders.
Additional information is available at www.adialpharma.com.
About the Landmark ONWARD™ Pivotal Phase
3 Clinical Trial
The ONWARD trial is a 24-week, multicenter,
randomized, double-blind, placebo-controlled, parallel group, Phase
3 clinical study to evaluate the efficacy, safety and tolerability
of AD04 in patients with Alcohol Use Disorder (AUD) and selected
polymorphisms in the serotonin transporter and receptor genes.
Patients are genetically screened prior to enrollment in the ONWARD
trial so that only genetically positive patients are enrolled. The
primary endpoint for analysis of efficacy is the change from
baseline in the monthly number of heavy drinking days during the
last 8 weeks of the 24-week treatment period. ONWARD is currently
being conducted in 25 clinical sites in seven countries in
Scandinavia and Central and Eastern Europe (Sweden, Finland,
Poland, Latvia, Estonia, Bulgaria and Croatia). The principal
investigator is Professor Hannu E.R. Alho, Emeritus Professor of
Addiction Medicine at the University of Helsinki.
Forward Looking Statements
This communication contains certain
"forward-looking statements" within the meaning of the U.S. federal
securities laws. Such statements are based upon various facts and
derived utilizing numerous important assumptions and are subject to
known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Statements
preceded by, followed by or that otherwise include the words
"believes," "expects," "anticipates," "intends," "projects,"
"estimates," "plans" and similar expressions or future or
conditional verbs such as "will," "should," "would," "may" and
"could" are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. The forward-looking statements include statements
regarding ADO4 as a potential treatment of AUD in subjects with
certain target genotypes, which are to be identified using the
Company’s proprietary companion diagnostic genetic test the
potential of ADO4 to treat other addictive disorders such as Opioid
Use Disorder, gambling, and obesity. Any forward-looking statements
included herein reflect our current views, and they involve certain
risks and uncertainties, including, among others, the ability of
ADO4 to treat AUD in subjects with certain target genotypes and to
treat other addictive disorders such as Opioid Use Disorder,
gambling, and obesity, our ability to enroll patients within the
timelines anticipated and complete clinical trials on time and
achieve desired results and benefits as expected, our ability to
obtain regulatory approvals for commercialization of product
candidates or to comply with ongoing regulatory requirements,
regulatory limitations relating to our ability to promote or
commercialize our product candidates for specific indications,
acceptance of its product candidates in the marketplace and the
successful development, marketing or sale of products, our ability
to maintain our license agreements, the continued maintenance and
growth of our patent estate, our ability to establish and maintain
collaborations, our ability to obtain or maintain the capital or
grants necessary to fund its research and development activities,
and our ability to retain our key employees or maintain our Nasdaq
listing. These risks should not be construed as exhaustive and
should be read together with the other cautionary statement
included in our Annual Report on Form 10-K for the year ended
December 31, 2020, subsequent Quarterly Reports on Form 10-Q and
current reports on Form 8-K filed with the Securities and Exchange
Commission. Any forward-looking statement speaks only as of the
date on which it was initially made. We undertake no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, changed circumstances
or otherwise, unless required by law.
Contact:Crescendo Communications, LLCDavid
Waldman / Natalya RudmanTel: 212-671-1021Email:
adil@crescendo-ir.com
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