Adial Pharmaceuticals Lands Pivotal US Patent for Lead Product for Addiction Disorder Treatment; Shares Soar 229%
Adial Pharmaceuticals Inc (NASDAQ:ADIL) revealed that the United States Patent and Trademark Office issued patent number 11,905,562 on February 20, 2024. This new patent encompasses Adial’s flagship investigational drug, AD04, specifically its capacity to engage the serotonin transporter gene, aiming at the potential management of opioid use disorder (OUD).
Highlighting the impact of this development, the company expressed that this patent amplifies Adial’s intellectual property (IP) collection, emphasizing AD04’s targeting mechanism for the potential alleviation of OUD.
Cary Claiborne, CEO of Adial Pharmaceuticals, expressed, “This patent is a significant addition to our IP, focusing on AD04’s unique approach to targeting the serotonin transporter gene. AD04 shows great potential not only for OUD but for treating other drug dependencies as well, expanding from its original focus on alcohol use disorder. We are dedicated to advancing AD04 towards being market-ready for alcohol use disorder treatment and are optimistic about its potential for OUD and other dependencies.”
Earlier this month, Adial Pharmaceuticals was awarded a new U.S. patent expanding the coverage of the combination of the company’s proprietary genetic diagnostic to identify patients with specific genotypes for genetically targeted treatment of alcohol use disorder (AUD) and drug dependencies, such as opioid use disorder (OUD), with the company’s lead investigational new drug product AD04.
On Wednesday, ADIL shares surged 229% during intraday trading following the announcement.
About Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of therapies for the treatment and prevention of addiction and related disorders. The Company’s lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of AUD in heavy drinking patients and was recently investigated in the Company’s ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes (estimated to be approximately one-third of the AUD population) identified using the Company’s proprietary companion diagnostic genetic test. ONWARD showed promising results in reducing heavy drinking in heavy drinking patients, and no overt safety or tolerability concerns. AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity.
