Mergers & Acquisitions ·
Adial Pharmaceuticals reported second quarter 2026 financial results and announced the completed acquisition of Azora…
ADILAzora Therapeutics, Inc. (DE)
Adial Pharmaceuticals reported second quarter 2026 financial results and announced the completed acquisition of Azora Therapeutics, adding AT177, an oral AhR agonist for ulcerative colitis, to its pipeline. The company closed the initial $32 million tranche of a $64 million private placement, which included the conversion of $5.5 million in notes. Cash and cash equivalents rose to $28.7 million from $4.6 million at the end of March 2026. The quarter ended June 30, 2026, resulted in a net loss of $52.0 million, or $(11.25) per share, driven primarily by a $46.2 million non-cash charge for acquired in-process research and development expenses related to the Azora transaction. Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatments for inflammatory diseases.