New Risk • Jun 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 64% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings are forecast to decline by an average of 64% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (240% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$5.89m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$18m net loss next year). Price Target Changed • Jun 12
Price target decreased by 69% to US$8.00 Down from US$26.00, the current price target is provided by 1 analyst. New target price is 168% above last closing price of US$2.98. Stock is down 66% over the past year. The company is forecast to post a net loss per share of US$3.43 next year compared to a net loss per share of US$11.93 last year. Announcement • Jun 12
Adial Pharmaceuticals, Inc. (NasdaqCM : ADIL) acquired Azora Therapeutics, Inc. for $28.8 million. Adial Pharmaceuticals, Inc. (NasdaqCM : ADIL) acquired Azora Therapeutics, Inc. for $28.8 million on June 11, 2026. The consideration consists of 437,474 shares of its Common Stock, par value $0.001 per share and 12,930.617 shares of its Series A Non-Voting Convertible Preferred Stock, par value $0.001 per share each share of which is convertible into 1,000 shares of Common Stock.
Leslie Marlow and Hank Gracin of Blank Rome LLP acted as the legal advisor to Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals, Inc. (NasdaqCM : ADIL) completed the acquisition of Azora Therapeutics, Inc. on June 11, 2026. 
