Acquisition (Details) - USD ($) |
1 Months Ended | 12 Months Ended |
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Jan. 26, 2021 |
Dec. 31, 2021 |
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Acquisition (Details) [Line Items] | ||
Owned membership interests | 28.73% | |
Purchase price, description | The purchase price of Purnovate consisted of cash consideration of $350,000 (excluding a $350,000 initial working capital loan to Purnovate, which was assumed by Adial at acquisition through its ownership of Purnovate, Purnovate’s liability and Adial’s asset being eliminated in consolidation), the issuance 699,980 shares of Adial common stock ($2.34 at date of closing, less a discount of 35% for a discount for lack of marketability related to the restrictions on the stock-based consideration) and contingent consideration for (i) certain development milestones in an aggregate amount of up to $2,100,000 for the first time any product or compound has achieved the relevant milestone within forty five (45) days after such occurrence (ii) milestones in an aggregate amount of up to $20,000,000 for each compound commercialized, and (iii) royalties of 3.0% of Net Sales (as defined in the Purchase Agreement). The equity consideration was placed into escrow to secure certain indemnification and other obligations of Purnovate and the Members and will be released, subject to certain terms. | |
Incurred acquisition costs (in Dollars) | $ 46,000 | |
Net loss (in Shares) | 1,923,000 | |
Business Combination [Member] | ||
Acquisition (Details) [Line Items] | ||
Business acquisition shares percentage | 100.00% |
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- References No definition available.
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- Definition Net loss. No definition available.
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- Definition Owned membership interests. No definition available.
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- Definition Purchase price, description. No definition available.
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- Definition The capitalized costs incurred during the period (excluded from amortization) to purchase, lease or otherwise acquire an unproved property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination. No definition available.
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- Details
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