Home / Going-concern warnings / ADIAL PHARMACEUTICALS, INC.
Filed 2026-08-14 路 Form 10-Q 路 Accession 0001213900-26-090051 nano
Price before filing: $4.39 (2026-08-13 close, split/dividend-adjusted)
Market cap at flag: $18.4M (2026-08-14) 路 Latest: $16.1M (2026-10-16)
| Window | ADIL | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +13.9% | -2.2% | +16.1% | 2026-09-14 |
| 90 days | pending | pending | until 2026-11-12 | |
| 180 days | pending | pending | until 2027-02-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $106K (5 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-06-29 | Coastlands Capital LP 10% owner | Purchase | 25,000 | $2.60 | $65K | no | Form 4 |
| 2026-07-09 | Coastlands Capital LP 10% owner | Purchase | 10,053 | $2.79 | $28K | no | Form 4 |
| 2026-07-10 | Coastlands Capital LP 10% owner | Purchase | 1,700 | $2.70 | $5K | no | Form 4 |
| 2026-07-14 | Coastlands Capital LP 10% owner | Purchase | 2,000 | $2.65 | $5K | no | Form 4 |
| 2026-07-16 | Coastlands Capital LP 10% owner | Purchase | 1,233 | $2.75 | $3K | no | Form 4 |
| 2026-08-14: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-05-16 to 2026-09-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"After evaluating the conditions described above in the aggregate, the Company has concluded that there is substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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