# ADIAL PHARMACEUTICALS, INC. (ADIL) — capital_raise/private_placement [pending]
Source: sec.gov · situation sit_91063dcc2262ee0919b8 · public 8462409565682557238 · retrieved 2026-08-20T14:07:37.117Z

## Overview
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company that historically focused on treatments for addictions and related disorders; following the June 2026 acquisition of Azora Therapeutics, the company now focuses on treating serious inflammatory diseases, with its lead program AT177, a fully synthetic, patented, oral AhR agonist designed for ulcerative colitis.

Adial Pharmaceuticals completed the acquisition of Azora Therapeutics, adding AT177, a fully synthetic, oral, colon-targeted aryl hydrocarbon receptor (AhR) agonist in development for ulcerative colitis, to its pipeline. Concurrently, the company closed the initial $32 million tranche of an up to $64 million private placement from biotech-focused institutional investors, which included the conversion of $5.5 million of notes. The company's focus has shifted to treating serious inflammatory diseases, with AT177 currently in IND-enabling studies and an investigational new drug (IND) filing planned for the first half of 2027.

## Terms
- Counterparty: Azora Therapeutics · Deal value: $32.0M · Consideration: mixed

## Key dates
- Announced 2026-08-17

## Timeline
- 2026-08-17 · 8-K (0001213900-26-090482): 8-K - ADIAL PHARMACEUTICALS, INC. — *Adial Pharmaceuticals is a clinical-stage biopharmaceutical company that historically focused on treatments for addictions and related disorders; following the June 2026 acquisition of Azora Therapeutics, the company now focuses on treating serious inflammatory diseases, with its lead program AT177, a fully synthetic, patented, oral AhR agonist designed for ulcerative colitis.* Adial Pharmaceuticals completed the acquisition of Azora Therapeutics, adding AT177, a fully synthetic, oral, colon-targeted aryl hydrocarbon receptor (AhR) agonist in development for ulcerative colitis, to its pipeline. Concurrently, the company closed the initial $32 million tranche of an up to $64 million private placement from biotech-focused institutional investors, which included the conversion of $5.5 million of notes. The company's focus has shifted to treating serious inflammatory diseases, with AT177 currently in IND-enabling studies and an investigational new drug (IND) filing planned for the first half of 2027.
  https://www.sec.gov/Archives/edgar/data/1513525/0001213900-26-090482.txt

## Citations
- 0001213900-26-090482 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000121390026090482