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ADIL — Adial Pharmaceuticals News Story

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Adial Pharmaceuticals Q3 net loss beats expectations on lower R&D expenses

Overview

Adial Q3 net loss of $1.8 mln beats analyst expectations

Company's R&D expenses decrease by 50% due to lower clinical activity

Adial advances towards Phase 3 development of AD04 after successful FDA meeting

Outlook

Adial is advancing to Phase 3 trials for AD04 following FDA guidance

Company sees potential benefits from legislative support for broader trial endpoints

Adial partners with Genomind for a companion diagnostic test for AD04

Result Drivers

R&D EXPENSES DECREASE - Lower clinical activity led to a 50% decrease in R&D expenses, contributing to reduced net loss

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Net IncomeBeat-$1.80 mln-$2.12 mln (3 Analysts)
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell" The average consensus recommendation for the biotechnology & medical research peer group is "buy" Wall Street's median 12-month price target for Adial Pharmaceuticals Inc is $2.00, about 84.1% above its November 13 closing price of $0.32 Press Release: ID:nGNXxhphW For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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