Mergers & Acquisitions ·
On June 11, 2026, Adial Pharmaceuticals acquired Azora Therapeutics
ADILAzora Therapeutics, Inc. (DE)
On June 11, 2026, Adial Pharmaceuticals acquired Azora Therapeutics. Adial issued 437,474 shares of Common Stock and 12,930.617 shares of Series A Non-Voting Convertible Preferred Stock (convertible at 1,000:1) to Azora stockholders. Concurrently, Adial entered into a PIPE financing for $26.8 million in initial pre-funded warrants, with an additional $26.8 million available via milestone closings. Adial also retired $5.5 million of Azora convertible notes via an exchange for pre-funded warrants. Matt Davidson was appointed as a Director and Chief Development Officer, and Wendy Young was appointed as a Director. Tony Goodman resigned as a Director. The company will seek stockholder approval for various proposals, including a potential reverse stock split to maintain Nasdaq compliance. Adial is a pharmaceutical company that develops therapeutic products.