Benzinga | Oct 22, 2020 10:37AM EDT

Why Adial's Stock Is Trading Higher Today

Adial Pharmaceuticals (NASDAQ:ADIL) shares are trading higher on Thursday after the company announced a strategic collaboration with Avalon GloboCare for global distribution of COVID-19 point-of-care antibody rapid test devices.

Adial develops prescription medications for addiction and related disorders. Its lead product is AD04, which is an approved drug for treating nausea and emesis.

Adial Pharmaceuticals shares traded up 7.60% to $1.84 on Thursday at the time of publication. The stock has a 52-week high of $4 and a 52-week low of $1.