Adial Acquires Azora With $64 Mln Private Placement; To Advance AT177 For Ulcerative Colitis

Adial Pharmaceuticals acquired Azora Therapeutics and gained lead asset AT177, a treatment candidate for ulcerative colitis. The deal expands Adial's biotech pipeline and adds a clinical-stage gastrointestinal asset, which is modestly positive for the company. The news is likely to have limited broader market impact but could support ADIL sentiment.

Analysis

Adial Pharmaceuticals acquired Azora Therapeutics and gained lead asset AT177, a treatment candidate for ulcerative colitis. The deal expands Adial's biotech pipeline and adds a clinical-stage gastrointestinal asset, which is modestly positive for the company. The news is likely to have limited broader market impact but could support ADIL sentiment.