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Jun 30, 2024
Avadel Q2 2024 Earnings Report
Reported strong growth in LUMRYZ sales and progress in clinical trials.
Key Takeaways
Avadel Pharmaceuticals reported $41.5 million in net product revenue from LUMRYZ sales in Q2 2024, a significant increase from $1.5 million in the same period last year. The company is also advancing its clinical trials for LUMRYZ in idiopathic hypersomnia and preparing for a potential FDA approval for pediatric narcolepsy.
Generated $41.5 million in net revenue from LUMRYZ sales.
Over 1,900 patients were on LUMRYZ as of June 30th.
The first patient was dosed in the Phase 3 trial evaluating LUMRYZ in idiopathic hypersomnia.
The FDA target action date of September 7, 2024, is set for the sNDA for LUMRYZ in pediatric narcolepsy.
Revenue by Segment
Forward Guidance
Avadel Pharmaceuticals is focused on maximizing the launch of LUMRYZ for narcolepsy, expanding its indications, and is well-positioned to transform the sleep disorder treatment landscape.
Positive Outlook
- Continued strong quarter-over-quarter growth in patient demand for LUMRYZ.
- Prioritizing indication expansion to create further sustainable value.
- Commitment to providing patients suffering from sleep disorders with transformative treatment options.
- Phase 3 trial in idiopathic hypersomnia underway.
- Potential FDA approval for the pediatric narcolepsy population expected in September.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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