Azora Therapeutics, Inc.

Adial Pharmaceuticals Announces Planned Appointment of Celia Economides as Chief Financial Officer

Adial Pharmaceuticals announced that Celia Economides, currently EVP of Finance, is expected to be appointed CFO promptly after the reconvened 2026 annual meeting, succeeding Vinay Shah, contingent on stockholder approval of pending proposals. Economides brings 20+ years of biotech finance experience and has helped raise more than $1 billion across prior roles at Aurinia, Kezar, Gritstone and CellCentric. The CFO appointment accompanies a planned transition: if stockholders approve the Series A preferred conversion and Nasdaq approves the initial listing application, Adial will rename to Azora Therapeutics and trade under the symbol AZR. The company is advancing AT177, an oral AhR agonist for ulcerative colitis, through IND-enabling studies with a Phase 1 trial planned for the first half of 2027.

•7d ago

Adial Pharmaceuticals Appoints David Rubenstein, M.D., Ph.D., as Chief Scientist to Advance its Colon-Targeted AhR Agonist, AT177, for Ulcerative Colitis

Adial Pharmaceuticals appointed Dr. David Rubenstein as Chief Scientist to lead development of AT177, its oral colon-targeted AhR agonist for ulcerative colitis. Rubenstein previously led tapinarof (VTAMA), the first FDA-approved AhR agonist, through development, approval and commercialization at Dermavant Sciences. AT177 is in IND-enabling studies with first-in-human trials expected in 2027, following Adial's June 2026 acquisition of Azora Therapeutics.

•17d ago

Adial Pharmaceuticals Reports 2026 Second Quarter Financial Results and Provides Business Update

Adial Pharmaceuticals reported its Q2 2026 financial results, highlighting the completed acquisition of Azora Therapeutics which adds AT177, a colon-targeted treatment for ulcerative colitis, to its pipeline. The company strengthened its balance sheet by closing the initial $32 million tranche of a $64 million private placement, increasing cash to $28.7 million and extending its runway into the second half of 2027. Net loss for the quarter was $52.0 million, or $11.25 per share, driven primarily by a non-cash $46.2 million charge related to the acquired in-process research and development from the Azora transaction.

•2mo ago

Adial Pharmaceuticals Expands Executive Leadership Team and Closes PIPE Financing

Adial Pharmaceuticals closed the first $32 million tranche of a potential $64 million private placement, with participation from biotech specialist investors including Coastlands Capital and Kern Capital. Proceeds are earmarked to advance AT177, the company's lead colon-targeted AhR agonist for ulcerative colitis, following its acquisition of Azora Therapeutics. The company appointed Matthew Davidson as Chief Development Officer and Julie Saiki as Executive Vice President of Strategy, granting them inducement awards consisting of restricted stock units and options with an exercise price of $2.98 per share.

•4mo ago

Adial Pharmaceuticals Advances IP Portfolio with New U.S. Utility Patent Application, Positioning for Potential Market Exclusivity Through 2045

Adial Pharmaceuticals filed a new U.S. utility patent application for AD04, its lead investigational therapy for Alcohol Use Disorder. If granted, the patent is expected to protect the company’s core assets through at least 2045, strengthening its strategic position in ongoing licensing discussions. The company requested Track One Prioritized examination to expedite the review process and gain early patentability insights.

•6mo ago

Adial Pharmaceuticals Successfully Completes Manufacturing of Demonstration Batch Production, Enabling Clinical and Registration Production for AD04 Planned Phase 3 Trial

Adial Pharmaceuticals completed the demonstration batch production for AD04, confirming specifications for the planned Phase 3 trial and matching the Phase 2 dissolution profile. The successful technical transfer to a new CDMO enables the production of clinical and registration batches needed for IND updates with the FDA. Management stated this achievement positions the company to advance the AD04 program and supports ongoing regulatory discussions.

•6mo ago