24/7 Market News Snapshot 14 November, 2024 – Adial Pharmaceuticals, Inc (NASDAQ:ADIL)

November 14, 2024

DENVER, Colo., 14 November, 2024 (247marketnews.com) – (NASDAQ:ADIL) are discussed in this article.
Adial Pharmaceuticals, Inc. has initiated trading today at $1.10, but the stock has seen a decline to $1.075, reflecting an approximate drop of 8.48%. This movement comes on the heels of a previous session close at $0.991, which indicates a recent positive trend, although today’s activity reveals a shift towards bearish sentiment. With a current trading volume of 1.73 million shares, investor interest appears heightened, potentially signaling volatility. Traders are advised to keep a close eye on key support levels at $1.00 and resistance near $1.10 to gauge future price movements.

In conjunction with this market activity, Adial has recently announced a significant advancement in its development of AD04, an investigational therapy targeting Alcohol Use Disorder (AUD). The company has completed a pharmacokinetics (PK) study that fulfills FDA requirements, thereby equipping them with critical data to refine their upcoming Phase 3 clinical trial strategy.

The PK study evaluated the bioavailability and pharmacokinetic profile of AD04, a genetically targeted serotonin-3 receptor antagonist, in adult volunteers. Results demonstrated dose-proportional increases in pharmacokinetic exposure, confirming the relative bioavailability of AD04 against a marketed reference standard. Significantly, the study established that the pharmacokinetic characteristics of AD04 are unaffected by food intake, enhancing its appeal for patient adherence.

Cary Claiborne, President and CEO of Adial, emphasized the importance of this achievement, stating it enables the design of a more targeted Phase 3 trial protocol. The firm is optimistic about aligning its strategies with FDA requirements, which may facilitate regulatory approval under the 505(b)(2) pathway. AD04’s unique approach to modulating the 5HT3 receptor pathway represents a promising avenue for addressing AUD and potentially other addiction-related disorders. This milestone underscores Adial’s dedication to delivering effective treatment options for individuals grappling with addiction challenges.

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