Adial Pharmaceuticals becomes Azora Therapeutics, shifts to Nasdaq ticker AZR
Stockholders approved converting preferred stock from the June 2026 Azora merger, and the renamed company will advance AT177, an AhR agonist for ulcerative colitis, toward a 2027 Phase 1 trial.
Adial Pharmaceuticals, Inc. announced on October 28, 2026 that it had renamed itself Azora Therapeutics, Inc. The company's common stock was expected to begin trading on The Nasdaq Capital Market under the new ticker symbol "AZR" on October 29, 2026.1
The name change followed stockholder action at a reconvened annual meeting. Stockholders approved amending the company's Certificate of Incorporation to raise authorized common shares from 100,000,000 to 500,000,000 and to change the corporate name to Azora Therapeutics, Inc., an amendment filed with Delaware's Secretary of State on October 28, 2026 and effective at 12:01 AM Eastern on October 29, 2026.1 Separately, stockholders approved issuing 12,930,601 shares of common stock tied to conversion of Series A Non-Voting Preferred Stock issued under the June 11, 2026 merger agreement with Legacy Azora, with 652,227 votes in favor, 7,655 against, and 1,067 abstentions.1
The company's lead program is AT177. It is an oral, colon-targeted aryl hydrocarbon receptor (AhR) agonist built to act locally in the colon while limiting exposure elsewhere in the body, using what the company calls a highly selective, differentiated approach.1 Azora expects to move AT177 into a Phase 1 clinical trial in the first half of 2027.1
On financing, the company closed a private placement tied to the June merger that generated roughly $32 million in gross proceeds, including conversion and retirement of certain outstanding Azora notes.1 Azora said its cash is expected to fund operations, including IND-enabling studies and Phase 1 initiation, into 2028, with potential for an additional $32 million in gross proceeds tied to the Phase 1 trial's start.1
The company also named a new executive team, led by co-founder Matt Davidson, Ph.D. as President and CEO, with Celia Economides as CFO and Julie Saiki, Ph.D. as Chief Strategy Officer, and disclosed the departures of prior CEO Cary J. Claiborne and CFO Vinay Shah, both terminated effective October 28, 2026.
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