A recent bit of Adial Pharmaceuticals news has ADIL stock soaring on Thursday.
The news from Adial Pharmaceuticals (NASDAQ:ADIL) has to do with the company’s AD04 asset. This is a drug from the company that is used to treat individuals suffering from alcohol use disorder.
The good news for ADIL stock is that the company is considering expanding the use of AD04. The company says that it is planning to expand the use of the asset to include individuals that are suffering from opioid use disorder.
According to Adial Pharmaceuticals, AD04 has the potential to be used to treat opioid use disorder due to how the addiction affects physiology and neuro-transmitters. These effects are similar to what are seen in alcohol use disorder. As such, AD04 may be able to help patients suffering from the addiction.
“We commend the White House’s efforts to curtail the over prescription of opioids, as well as the flow of illegal synthetic opioids,” William Stilley, CEO of Adial Pharmaceuticals, said in a statement. “At the same time, it is crucial that we address the demand for these drugs, which is driven by addiction. This makes it imperative that we begin to treat addiction as a disease and recognize both the biological and genetic factors contributing to this epidemic.”
The ongoing opioid epidemic in the U.S. has been gaining more attention lately. This includes a 60 Minutes report about the issue late last year. Walgreens (NASDAQ:WBA) is also facing a lawsuit in Kentucky over its alleged contribution to the problem.
ADIL stock was up 87% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.