ADIAL PHARMACEUTICALS Business Summary

Adial Pharmaceuticals, Inc. (ADIL) is a clinical-stage biopharmaceutical company primarily focused on developing genetically targeted therapies for the treatment of addiction and related disorders. The company operates as a pre-revenue entity, deriving its value from the advancement of its lead investigational candidate, AD04, a serotonin-3 receptor antagonist designed for patients with Alcohol Use Disorder (AUD) who possess specific genetic biomarkers. Adial’s business model centers on clinical development, regulatory de-risking, and the pursuit of strategic licensing or commercialization partnerships, recently buoyed by a 2026 FDA policy shift that may allow for a single pivotal Phase 3 trial. Its primary segments include its core addiction pipeline and the Purnovate adenosine platform, which targets inflammatory and neurotransmission-related diseases. Direct competitors include Indivior, Tempest Therapeutics, Longeveron, and Soligenix; Adial distinguishes itself through a precision medicine approach that utilizes a proprietary companion diagnostic to identify the 14% of the AUD population most likely to respond to treatment. Founded in 2010 by Dr. Bankole Johnson, a pioneer in the psychopharmacology of addiction, Adial is currently led by Chief Executive Officer Cary J. Claiborne, who previously served as CFO of Indivior PLC and oversaw its spin-off from Reckitt Benckiser. The executive team includes Chief Operating Officer Tony Goodman, a co-founder of the Keswick Group with extensive experience at Purdue Pharma, and Chief Financial Officer Vinay Shah, who brings deep expertise in life sciences financial management. The company’s governance is anchored by Chairman Kevin Schuyler, a Senior Managing Director at CornerStone Partners, and notable board members such as Robertson Gilliland. Following a 1-for-25 reverse stock split in early 2026, the leadership has focused on capital efficiency and advanced partnering discussions to fund its upcoming pivotal clinical programs.