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ADILADIAL PHARMACEUTICALS, INC.

Is Adial Pharmaceuticals struggling financially?

Yes, by its own account. Adial Pharmaceuticals told the SEC on 8 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

30/100

Fragile

Sector
Biotech/Pharma
Market cap
$16.3M
Source filing
10-Q 8 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 18months

    If the burn speeds up

    Empty by Dec 2027

  • 25months

    If it eases off

    Empty by Jul 2028

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$28.7M

÷

Cash burned over the last 12 months

$16.1M

What Adial Pharmaceuticals told the SEC

…$ 0.3 million from equity issuances. However, the Company will require additional capital to continue operations and development of AD04. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Other Uncertainties Generally, the industry in which the Company operates subjects the Company to a number of other risks and uncertainties that can affect its operating results and…

ADIAL PHARMACEUTICALS, INC., Form 10-Q, filed 8 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 774.3% share-count increase The company issued stock. Each share now owns 88.6% less of the business than a year ago, before any change in the price.
  • Cash burn is increasing It is spending 36% more cash per year than it was, so the runway above shortens even if nothing else changes.

Other Biotech/Pharma companies that filed the doubt