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Adial Pharmaceuticals Submits Clinical Trial Applications in Six Additional European Countries
CHARLOTTESVILLE, VA / December 19, 2019 / Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW), a clinical-stage biopharmaceutical company focused on the development of treatments for addiction, today announced that it has submitted Clinical Trial Applications (CTAs) to commence its first Phase 3 trial in Finland, Estonia, Latvia, Poland, Bulgaria, and Croatia. This follows the Company’s recent filing of a CTA to also commence its first Phase 3 trial in Sweden, as previously announced. In total, twenty-six clinical sites in these countries are expected to initially participate in the trial, subject to approval by each country’s regulatory authority and ethics committee. The planned Phase 3 trial will test AD04 as a genetically-targeted therapeutic agent for the treatment of Alcohol Use Disorder (AUD).
“Our Phase 3 trial is designed to enroll subjects with selected polymorphisms in the serotonin transporter and receptor genes that are expected to predict those likely to respond to AD04 and to exclude potential subjects that do not have the relevant genetic biomarkers,” commented William Stilley, CEO of Adial Pharmaceuticals. “As previously reported, we estimate that the prevalence of people with the targeted genetic biomarkers is about 33% in the United States and greater than 50% in Scandinavia and certain areas of Central and Eastern Europe. The higher expected prevalence of people with the genetic biomarkers in the participating countries should result in faster enrollment and completion as well as reduced trial costs.”
About Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company’s lead investigational new drug product, AD04, is a genetically targeted therapeutic agent for the treatment of Alcohol Use Disorder (AUD). A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported). The Company plans to commence a Phase 3 clinical trial using AD04 for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Company’s proprietary companion diagnostic genetic test. AD04 is also believed to have the potential to treat other addictive disorders such as opioid use disorder, gambling, and obesity. www.adialpharma.com
Forward Looking Statements
This communication contains certain “forward-looking statements” within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding commencing our Phase 3 trial in Finland, Sweden, Estonia, Latvia, Poland, Bulgaria, and Croatia with twenty-six clinical sites being expected to initially participate in the study, the prevalence of the targeted genotype for AD04 being much higher in Scandinavia and certain parts of Central and Eastern Europe resulting in faster enrollment and completion of the trial, as well as reduced study costs, the potential of AD04 to treat AUD and other addictive disorders such as opioid use disorder, gambling, and obesity. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, the ability to commence the Phase 3 clinical trials as expected in Europe, the ability to achieve faster enrollment and completion of the trial, as well as reduced study costs based on the prevalence of the targeted genotype for AD04 being much higher in Scandinavia and certain parts of Central and Eastern Europe, the ability to capitalize on the market opportunity for AUD, the ability to expand the use of AD04 for use in patients with opioid use disorder, gambling and obesity, the ability of AD04 therapy to perform as designed, to demonstrate safety and efficacy, as well as results that are consistent with prior results, the ability to enroll patients and complete the clinical trials on time and achieve desired results and benefits, our ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products, our ability to maintain our license agreements, the continued maintenance and growth of our patent estate, our ability to establish and maintain collaborations, our ability to obtain or maintain the capital or grants necessary to fund its research and development activities, and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2018, subsequent Quarterly Reports on Form 10-Q and Current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Crescendo Communications, LLC
David Waldman / Natalya Rudman
SOURCE: Adial Pharmaceuticals, Inc.
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