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(RTTNews) - Adial Pharmaceuticals, Inc. (ADIL) announced Tuesday the appointment of Vinay Shah as the Company's Chief Financial Officer, effective November 16, 2024.

Shah is an accomplished Chief Financial Officer with over 25 years of experience in the pharmaceutical, biopharmaceutical, and healthcare sectors, specializing in financial strategy, investor relations, and operational efficiency.

Most recently, Shah served as the CFO at Virpax Pharmaceuticals, Inc. (VRPX). Previously, at Aravive, Inc., he helped raise over $150 million and played integral roles in a major reverse merger and out-licensing efforts in China.

At Pacira Pharmaceuticals, Inc., he partnered on the company's IPO, contributing to S-1 preparation, financial audits, and SEC compliance. His background also includes finance leadership roles at Cardinal Health, Inc. and Jostens Learning Corp.

He began his career with auditing positions at KPMG Peat Marwick and Price Waterhouse Coopers. On Friday, Joseph Truluck notified the CEO of the Company of his decision to resign from his position as the Company's Chief Financial Officer to pursue other opportunities. He will remain CFO of the Company until November 15, 2024 and has entered into a consulting agreement with Adial, through March 31, 2025, in order to aid in an orderly transition.

The company said Truluck's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices, including any matters concerning the Company's controls or any financial or accounting-related matters or disclosures.

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