Adial Pharmaceuticals, which is developing a targeted therapy for alcohol use disorder based on an approved drug, plans to price its initial public offering during the week of December 11, 2017. The company filed an FWP with its roadshow presentation on Monday.
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. Joseph Gunnar is the sole bookrunner on the deal.
