Adial Pharmaceuticals, a biopharmaceutical company, has not provided a traditional financial report for the year ended December 31, 2023. Instead, the announcement details the composition and activities of the Board of Directors, including the appointment of new members and the roles of existing directors. The company's governance structure, including various committees such as the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, is outlined, emphasizing their responsibilities and the independence of their members. The report also mentions the company's Code of Conduct and Ethics and its commitment to ethical business practices. Additionally, the announcement includes information on executive compensation, equity awards, and related-party transactions, such as consulting agreements and licensing agreements with the University of Virginia Patent...Show More

Adial Pharmaceuticals, a biopharmaceutical company, has not provided a traditional financial report for the year ended December 31, 2023. Instead, the announcement details the composition and activities of the Board of Directors, including the appointment of new members and the roles of existing directors. The company's governance structure, including various committees such as the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, is outlined, emphasizing their responsibilities and the independence of their members. The report also mentions the company's Code of Conduct and Ethics and its commitment to ethical business practices. Additionally, the announcement includes information on executive compensation, equity awards, and related-party transactions, such as consulting agreements and licensing agreements with the University of Virginia Patent Foundation. The company's risk oversight is managed by the Board of Directors through the Audit Committee, which monitors financial risk exposures and management policies. Lastly, the announcement provides details on the indemnification agreements with directors and executive officers, ensuring protection against legal expenses in connection with their service to the company.