ADIAL PHARMACEUTICALS, INC. (ADIL) Form 8-K — Oct 28, 2026
Adial Pharmaceuticals completed its transformation into Azora Therapeutics, changing its name and ticker to AZR on Nasdaq effective October 29, 2026, following the June 2026 reverse merger with Legacy Azora. Stockholders approved conversion of Series A preferred stock and share issuances totaling roughly 49 million shares against only 2.6 million shares outstanding — massive dilution that funds a new pipeline focused on AT177, an oral colon-targeted AhR agonist for ulcerative colitis entering Phase 1 in H1 2027. The board installed an entirely new executive team: co-founder Matthew Davidson, Ph.D. as President and CEO (replacing Cary J.
Key figures
- Gross Proceeds
- 32000000
- Shares Outstanding
- 2625890
- New ticker
- AZR
- Cash runway
- into 2028
- Phase 1 timing
- first half of 2027
- Shares issuance proposal 3
- 12930601
- Shares issuance proposal 4
- 1177782
- Shares issuance proposal 5
- 11780948
- Shares issuance proposal 6
- 23561896
- Milestone tranche potential
- $32,000,000
- Authorized common shares new
- 500000000
- Authorized common shares old
- 100000000
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