Adial Pharmaceuticals, which is developing genetically-targeted treatments for alcohol use disorder, filed and set terms for its IPO on Thursday.
The Charlottesville, VA-based company plans to raise $14 million by offering 1.4 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Adial Pharmaceuticals would command a fully diluted market value of $57 million.
Adial Pharmaceuticals was founded in 2010 and plans to list on the Nasdaq under the symbol ADIL. Aegis Capital Corp. is the sole bookrunner on the deal.
