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Jun 30, 2023
Avadel Q2 2023 Earnings Report
Avadel announced its financial results for the second quarter ended June 30, 2023 and successfully commenced the U.S. commercial launch of LUMRYZ.
Key Takeaways
Avadel Pharmaceuticals reported $1.5 million in net product revenues for Q2 2023, driven by the U.S. commercial launch of LUMRYZ, which began on June 5, 2023. The company's net loss for the quarter was $64.4 million, or ($0.83) per diluted share. As of June 30, 2023, cash, cash equivalents and marketable securities totaled $160.5 million.
Successfully commenced U.S. commercial launch of LUMRYZ.
Received final FDA approval for LUMRYZ with orphan drug exclusivity granted through May 1, 2030.
Completed first patient enrollments and commercial sales of LUMRYZ within weeks of receiving FDA approval.
Supplemental NDA filing planned in the second half of 2023 for LUMRYZ in the pediatric narcolepsy population.
Revenue by Segment
Forward Guidance
Avadel is focused on long-term growth and value creation, with potential expansion opportunities and a robust cash position to support its mission.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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