Adial Pharmaceuticals (NASDAQ: ADIL) stock surged during intraday trading after the company provided an update on the pharmacokinetics study of AD04.
Adial Pharmaceuticals recently announced the progression to the second cohort in the pharmacokinetics study of its lead investigational drug, AD04. The company is developing this genetically targeted, serotonin-3 receptor antagonist for the treatment of Alcohol Use Disorder (AUD) in heavy drinking patients. The move follows the successful completion of the first cohort in the study.
The company expects to release topline results from both study cohorts in the fourth quarter of 2024.
Cary Claiborne, President and CEO of Adial Pharmaceuticals, expressed satisfaction with the progress, stating,
“We are pleased with the progress of our pharmacokinetics study of AD04. The successful completion of the first cohort allows us to advance to the second cohort as planned, staying on track with our projected timeline. The results from both cohorts will offer invaluable insights that are critical for the design of our upcoming Phase 3 Clinical Trial. We anticipate engaging with the FDA following receipt of the topline data from this study and seek their feedback on the overall design of our Phase 3 program.”
Adial Pharmaceuticals commenced the pharmacokinetics study in June 2024 and expects to complete it in the fourth quarter of 2024. The company plans to enroll up to 30 healthy adult volunteers in the single-center, open-label relative bioavailability and dose proportionality study to compare the pharmacokinetic profile of AD04 when administered as an oral dose of 0.33 mg with or without food against a reference standard product. This study will provide valuable information on the pharmacokinetic properties of AD04.
Adial Pharmaceuticals (NASDAQ: ADIL) Stock Price Action
ADIL stock soared 23.58% on Tuesday, closing at $1.31, marking a 16.96% increase for the week. The trading volume was 160,038,272 shares, significantly higher than the average daily volume of 2.73 million.
