BOCA RATON, Fla., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Dawson James Securities, Inc. announced the closing on July 31st of the initial public offering for Adial Pharmaceuticals, Inc. (NASDAQ: ADIL and ADILW) for gross proceeds of $7.32 million, prior to deducting underwriting discounts and commissions and offering expenses.

About Adial Pharmaceuticals, Inc.

Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of a therapeutic agent for the treatment of alcohol use disorder (“AUD”) using our lead investigational new drug product, AD04. A Phase 2b University of Virginia investigator sponsored clinical trial of AD04 for the treatment of AUD showed promising results and no overt safety concerns (there were no statistically significant serious adverse events reported). The Company plans to commence a Phase 3 clinical trial using AD04 for the potential treatment of AUD in subjects with certain target genotypes.

About Dawson James Securities

Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology and Consumer sectors and is a full service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland and New Jersey. www.dawsonjames.com