Adial Pharmaceuticals Appoints Vinay Shah as Chief Financial Officer

Core Insights - Adial Pharmaceuticals has appointed Vinay Shah as the new Chief Financial Officer, effective November 16, 2024, succeeding Joe Truluck who is resigning to pursue other opportunities [1][3]. Company Overview - Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies for addiction and related disorders [4]. - The lead investigational product, AD04, is a serotonin-3 receptor antagonist aimed at treating Alcohol Use Disorder (AUD) and has shown promising results in a pivotal Phase 3 clinical trial [4]. Leadership Background - Vinay Shah brings over 25 years of experience in the pharmaceutical and healthcare sectors, with a strong focus on financial strategy and operational efficiency [2]. - His previous roles include CFO at Virpax Pharmaceuticals and significant contributions at Aravive, Inc. and Pacira Pharmaceuticals, where he was involved in raising over $150 million and managing IPO processes [2]. Transition Details - Joe Truluck will remain in his role until November 15, 2024, and has entered a consulting agreement with Adial to ensure a smooth transition [3]. - Truluck's resignation was not due to any disagreements regarding the company's operations or financial matters [3]. Strategic Goals - The company aims to advance its strategic goals and the development of AD04 under Shah's financial leadership, focusing on delivering value for patients, partners, and shareholders [3][7].