Adial Pharmaceuticals announces 1-for-25 reverse stock split

Adial Pharmaceuticals (ADIL) announced it will effect a 1-for-25 reverse stock split of its common stock, effective February 5 at 11:59 p.m. ET. The stock will begin trading on a split-adjusted basis on February 6. The move is intended to bring the company into compliance with Nasdaq’s minimum bid price requirement. The reverse split will reduce outstanding shares from approximately 27.8M to approximately 1.1M.