Adial Pharma rises on meeting FDA to advance lead drug development

Adial Pharmaceuticals

07/03/2023 10:19

** Adial Pharmaceuticals Inc's  ADIL.O  shares jump 62.4% to
$0.68 in premarket trade, making it the biggest pct gainer
across U.S. stock exchanges before the bell
    ** Drug developer says its has confirmed a type C meeting
with U.S. FDA in Q2 2023 to discuss the co's experimental drug
to treat alcohol use disorder  urn:newsml:reuters.com:*:nGNX1tGQGK
    ** Co said it has also scheduled or planned meetings with
five European country-level regulatory authorities
    ** ADIL's regulatory meetings are based on the late-stage
study data of its experimental drug that showed statistically
significant reduction of heavy drinking days in a subgroup of
patients
    ** Type C meeting with FDA will allow co to formulate a 
clear clinical development plan, which would lead to eventual
U.S. approval 
    ** ADIL fell ~92% last year 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))