Adial Pharmaceuticals, Inc (NASDAQ: ADIL) was one of the top gainers at the close of the week after is gained by 30.95% in Friday’s session. This followed the company’s announcement that, it had validated its genetic biomarker for the planned phase 3 trial. The company’s phase 3 trial is aimed at studying AD04, a therapeutic agent that is genetically targeted for treating alcohol use disorder.
This was done in collaboration with Eurofins Genomics, a division of the Eurofins biopharma services. Eurofins, did the lab validation on Adial’s diagnostic genetic test by making use of the double-strand Sanger sequencing, as well as the fragment length analysis on PCR products. These will also be used in analyzing patient blood samples for gene variations triggered by Single Nucleotide Polymorphisms. The assay validations will further be analyzed by a local ethics committee as part of the clinical trial application assessments.
Commenting on this development, Adial CEO, William Stilley stated that, the successful completion of the test was a major milestone as the company gears up for the planned phase 3 trial. He added that, the genetic pre-screening of subjects enables the company to take-in patients with genetic biomarkers with indications that they are expected to respond to AD04.
Eurofins Senior VP Elena Logan, also commented on the development stating that, the tests met all the criteria for use in phase 3 trial. Elena added that, Adial was leading in precision medicine and was developing a personalized approach to spot patients most likely to respond to treatment. She added that, Eurofins was happy to be working with Adial on this front.
From the charts, ADIL was in a breakout in Friday’s session. The stock was trading between a low of $1.62 and a high of $2.49, before closing the day at $2.20. Volumes in the day stood at 352.07k.
About Adial Pharmaceuticals Inc
Adial Pharmaceuticals Inc is a biopharma company that develops therapies for treating alcohol-related disorders. It is based in Charlottesville, Virginia.