Thinly traded nano cap Adial Pharmaceuticals (ADIL +128%) is up on a healthy 60x surge in volume.
This morning, it announced that it had established a scientific advisory board that will be chaired by Giovanni Addolorato, a global expert in alcohol use disorder (AUD).
A Phase 3 clinical trial assessing lead AUD candidate AD04 should launch in H1 2019.
A couple of weeks ago, it filed a prospectus supplement related to the 1.464M Units issued in its IPO this past summer. Each Unit consisted of one common share and one five-year warrant to purchase one common share at $6.25. The stock is currently exchanging hands at $2.77.
On the working capital front, at the end of September, it had $4.8M in cash and equivalents while operations consumed $1.4M across the first three quarters.
Previously: Adial Pharmaceuticals engages CRO to begin Phase 3 clinical trials of AD04 (Nov. 19)
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