Vallon's lead investigational product candidate, ADAIR (abuse-deterrent amphetamine immediate-release), is a proprietary abuse-deterrent formulation of immediate release dextroamphetamine in development for the treatment of attention deficit hyperactivity disorder and narcolepsy. ADAIR is designed to deter attempts to crush and snort and provides barriers to injection.

But the US company was dealt a body blow in March 2022, with the failure of ARAIR in a pivotal trial, news that prompted the value of Vallon's share price to drop by about two-thirds.