Adial Pharmaceuticals Announces Commencement of the Landmark ONWARD(TM) Pivotal Phase 3 Clinical Trial in Latvia
ONWARD™ trial progresses with the opening of sites in Latvia
CHARLOTTESVILLE, VA / ACCESSWIRE / June 17, 2020 / Adial Pharmaceuticals, Inc. (NASDAQ:ADIL; ADILW) ("Adial"), a clinical-stage biopharmaceutical company focused on the development of treatments for addiction, today announced that it has opened clinical trial sites and is recruiting trial subjects in Latvia after receiving all necessary approvals to commence the landmark ONWARD™ pivotal Phase 3 clinical trial in Latvia, including from the State Agency of Medicines of the Republic of Latvia and the Latvian Central Ethics Committee. The ONWARD™ trial is investigating Adial's lead drug candidate, AD04, as a therapeutic agent for the treatment of Alcohol Use Disorder in persons with certain target genotypes related to the serotonin transporter and receptor genes.
Shortly following approval, two investigative ONWARD™ clinical trial sites were initiated in Latvia and commenced trial activities, and one more site is planned in Latvia. Commenting on the opening of these sites, Schuyler Vinzant, Adial's Vice President of Development, said, "We are pleased to expand our collaboration in the Baltic region, optimizing our enrollment efforts as we work to demonstrate the efficacy and safety of AD04 for the treatment of persons suffering with Alcohol Use Disorder."
Dr. Jelena Sorokina, Principal Investigator at the Liepaja Regional Hospital in Latvia stated, "It has been many years since the medical community has had a new option for treating Alcohol Use Disorder. We are already seeing evidence that the alcohol problem has become worse during the COVID-19 lockdown, making the development of pharmacological interventions even more urgent and important. We are honored to be part of the landmark ONWARD™ trial, as it evaluates AD04 as a meaningful potential treatment for the many Latvian patients and other patients globally suffering from this terrible disease."
"Adial's ability to initiate sites in the ONWARD™ trial had been on hold in Latvia due to the COVID-19 lockdown," said William Stilley, Chief Executive Officer of Adial. "During the lockdown, Mr. Vinzant and our contract research organization, Crown CRO, completed all preparatory work necessary to allow for the immediate activation of our first two Latvian trial sites and we intend to open our third and final site in Latvia shortly. The ONWARD™ trial has already been running in Finland and Bulgaria for several months and we recently announced approval to commence the trial in Poland."
About Adial Pharmaceuticals, Inc.
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company's lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of Alcohol Use Disorder (AUD) and is currently being investigated in the Company's landmark ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Company's proprietary companion diagnostic genetic test. A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported). AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. www.adialpharma.com
Forward Looking Statements
This communication contains certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding initiating sites in the ONWARD™ trial in Latvia and the potential of AD04 as a therapeutic agent for the treatment of Alcohol Use Disorder in persons with certain target genotypes related to the serotonin transporter and receptor genes and to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, our ability to continue to open sites in Latvia, our ability to expand the use of AD04 for use in patients with Opioid Use Disorder, gambling and obesity, the ability of AD04 therapy to perform as designed, to demonstrate safety and efficacy, as well as results that are consistent with prior results, our ability to enroll patients and complete the clinical trials on time and achieve desired results and benefits, our ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products, our ability to maintain our license agreements, the continued maintenance and growth of our patent estate, our ability to establish and maintain collaborations, our ability to obtain or maintain the capital or grants necessary to fund its research and development activities, and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2019, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Crescendo Communications, LLC
David Waldman / Natalya Rudman
SOURCE: Adial Pharmaceutical, Inc.
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Released June 17, 2020