Why Adial Pharmaceuticals Stock Is Blasting Off
Portfolio Pulse from Erica Kollmann
Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) shares surged after the company announced receiving a new patent for AD04, aimed at treating opioid use disorder. The patent, awarded by the United States Patent and Trademark Office, covers AD04's ability to target the serotonin transporter gene. CEO Cary Claiborne highlighted the patent's importance for the company's Intellectual Property portfolio and AD04's potential in treating various drug dependencies. Following the announcement, ADIL's stock price increased by 117.5% to $1.89, with trading volume significantly exceeding the 100-day average.
February 28, 2024 | 7:43 pm
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POSITIVE IMPACT
Adial Pharmaceuticals received a new patent for AD04, targeting opioid use disorder, causing its stock to surge by 117.5% to $1.89.
The announcement of a new patent for AD04 significantly boosts investor confidence in Adial Pharmaceuticals' potential for commercial success, especially in the opioid use disorder treatment market. The substantial increase in stock price and trading volume directly reflects the market's positive reaction to this news.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100