FINWIRES · TerminalLIVE
FINWIRES

Adial Pharmaceuticals Acquires Azora Therapeutics

By

Adial Pharmaceuticals (ADIL) said Thursday it has acquired Azora Therapeutics, a biopharmaceutical company developing treatments for serious inflammatory diseases.

Adial said it also entered into a definitive agreement for a private placement of up to $64 million in gross proceeds before expenses, including an initial financing of about $32 million. An additional $32 million could be raised upon the initiation of a phase 1 clinical study in exchange for further pre-funded and common warrants, the biopharmaceutical company said.

The combined company expects to use the funding primarily to advance Azora's AT177 program through key clinical milestones, including studies required to file an investigational new drug application and clinical trials.

Shares of Adial rose over 19% in Thursday trading.

Price: $2.58, Change: $+0.42, Percent Change: +19.44%

Related Articles

Wire

Lendlease Group Reaffirms IDC Business Fiscal 2026 Earnings Guidance; Shares Jump 3%

Lendlease Group (ASX:LLC) said its fiscal 2026 earnings per security guidance for the IDC business was maintained at AU$0.28 to AU$0.34 per share, subject to targeted completions in the fiscal year, according to a Thursday Australian bourse filing.Following AU$4.7 billion of new Australian projects secured in the half year, the Group is working to unlock over AU$10 billion of balance sheet positions at Rozelle Bay, Sydney, and the Brisbane Athlete Village.New work secured for construction in fiscal 2026 is expected to be around AU$6.5 billion, supported by social infrastructure, defense, transport, and data centers, the company said. Backlog revenue as of June 30 is expected to be around AU$8 billion, supporting earnings momentum into fiscal 2027.The company's asset recycling program continues to progress with a number of well-advanced transactions now likely to be completed in early fiscal 2027, per the filing. Due to the timing of transactions and more challenging market conditions, underlying group gearing in fiscal 2026 is anticipated to be in the mid-30% range.Lendlease Group's shares rose past 3% in recent trading on Thursday.

$ASX:LLC
Wire

Oxford Industries Fiscal Q1 Adjusted Earnings, Revenue Fall; Q2 Guidance Set

Oxford Industries (OXM) reported fiscal Q1 adjusted earnings late Wednesday of $1.39 per diluted share, down from $1.82 a year earlier.Analyst surveyed by FactSet expected $1.29.Revenue for the three months ended May 2 was $391.4 million, down from $392.9 million a year earlier.Analysts expected $391.8 million.For fiscal Q2, the company expects adjusted EPS of $1.20 to $1.40 on revenue of $380 million to $400 million. Analysts expect EPS of $1.46 on revenue of $413.9 million.For the full-year fiscal 2026, the company now expects adjusted EPS of $2.30 to $2.70 on revenue of $1.48 billion to $1.51 billion. Analysts expect EPS of $2.43 on revenue of $1.51 billion.Shares of the company were down over 12% during the after-hours.

$OXM
Wire

PureCycle Starts $250 Million Convertible Notes Offering, $145 Million Stock Sale

PureCycle Technologies (PCT) said late Wednesday it launched public offerings of $250 million of convertible senior notes due 2032 and $145 million of common shares.The company will grant underwriters 30-day overallotment options to buy up to an additional $37.5 million of the notes and $18.75 million of the shares.Net proceeds will be used to repurchase a portion of PureCycle's 7.25% green convertible notes due 2030, buy back additional green notes, and for general corporate purposes.PureCycle shares fell 11% in after-hours trading.

$PCT