ADIL · Adial Pharmaceuticals, Inc.

Substantial doubt about the company's ability to continue as a going concern.

“the Company does not believe that the existing cash and cash equivalents are sufficient to fund operations for the next twelve months following the filing of these unaudited condensed financial statements. During 2026, the Company received net proceeds of approximately $0.3 million from equity issuances. However, the Company will require additional capital to continue operations and development of AD04. These factors raise substantial doubt about the Company’s ability to continue as a going concern.”