Recent Updates — ADIL

Stockholders approved the conversion of Series A preferred stock into common shares and authorized a change of corporate name from Adial Pharmaceuticals, Inc. to Azora Therapeutics, Inc., effective October 29, 2026. Trading on Nasdaq will resume under the new ticker symbol AZR. The Board appointed Matthew Davidson as President and CEO, succeeding Cary Claiborne, while Celia Economides was named CFO and Julie Saiki became Chief Strategy Officer. The company is advancing its lead asset AT177, an oral AhR agonist for ulcerative colitis, with Phase 1 trials expected in the first half of 2027. Azora Therapeutics operates as a biopharmaceutical company developing treatments for serious inflammatory diseases.

Adial Pharmaceuticals convened its 2026 Annual Meeting on September 17, 2026, where stockholders approved director elections for Cary J. Claiborne and Robertson H. Gilliland, the ratification of CBIZ CPAs P.C. as auditor, an increase in authorized common shares from 100 million to 500 million, and new equity incentive plans. The meeting was adjourned regarding proposals requiring Nasdaq Listing Rule 5635(d) compliance until October 1, 2026, pending conditional exchange approval. Adial Pharmaceuticals is a biopharmaceutical company focused on developing treatments for central nervous system disorders.

Adial Pharmaceuticals amended its Securities Purchase Agreement and Note Exchange Agreements to remove a penalty provision, reclassifying milestone warrant rights from liability to equity. This change restores compliance with Nasdaq Capital Market listing requirements by increasing stockholders' equity above the minimum threshold. The pro forma balance sheet shows total assets of $29.1 million and total liabilities of $6.2 million as of June 30, 2026. Adial Pharmaceuticals operates in the biopharmaceutical industry.