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Azora Therapeutics, formerly Adial, reports Q3 loss of $64.6m as AT177 heads for 2027 IND

🇺🇸 Azora Therapeutics, Inc. (DE) (AZR) · Thu 12 Nov 2026

The renamed Nasdaq-listed company says its oral colon-targeted AhR agonist for ulcerative colitis remains on course for an IND filing and Phase 1a start in the first half of 2027.

Azora Therapeutics, which changed its name from Adial Pharmaceuticals and began trading on Nasdaq under the ticker AZR on 29 October 2026, published its third-quarter results on 12 November 2026.

The company's lead candidate is AT177, an oral, colon-targeted aryl hydrocarbon receptor (AhR) agonist being developed for ulcerative colitis. AT177 is currently in IND-enabling studies, and GMP manufacturing is under way. Azora plans to submit an investigational new drug application and start a Phase 1a study in the first half of 2027.

Azora reported cash of $22.0 million at the end of the period. Its net loss for the quarter was $64.6 million, driven largely by a $57.1 million non-cash charge relating to a warrant liability.

What it means for your team

  • AT177 is still preclinical: IND-enabling work and GMP manufacturing are in progress, with the IND and Phase 1a start guided for H1 2027.
  • Teams tracking the ulcerative colitis pipeline can note an oral, colon-targeted AhR agonist approach entering the clinical-development timetable.
  • Most of the reported net loss reflects a non-cash warrant liability charge of $57.1 million, not operating spend.

Company's press release (SEC filing): Azora Therapeutics, Inc. (DE) ↗

Article written by VigiEye from the official source (Azora Therapeutics, Inc. (DE)). Claims are the company's own. AI-assisted; check the source before acting.

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