Loading...
•
Jun 30, 2022
Avadel Q2 2022 Earnings Report
Announced second quarter financial results and provided a corporate update.
Key Takeaways
Avadel Pharmaceuticals reported a net loss of $63.4 million for the second quarter of 2022. The company received tentative approval for LUMRYZ from the FDA and is advancing activities to accelerate final approval. They have extended their cash runway to the final FDA decision.
Received tentative approval for LUMRYZ from the FDA on July 18.
Advancing key activities to potentially accelerate final approval and shorten launch window of LUMRYZ.
Extended cash runway to final FDA decision.
Workforce reduction will be completed during the third quarter of 2022 and the Company expects to reduce quarterly cash operating expenses, excluding inventory purchases, to $12 - $14 million.
Avadel
Avadel
Forward Guidance
The company expects to reduce quarterly cash operating expenses, excluding inventory purchases, to $12 - $14 million.