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Sep 30, 2020
Avadel Q3 2020 Earnings Report
Reported third quarter results with no revenue due to sale of sterile injectable products and net loss increase due to decline in revenue. Advanced FT218 toward anticipated FDA approval.
Key Takeaways
Avadel Pharmaceuticals reported no revenue for Q3 2020 due to the sale of sterile injectable products. R&D expenses were $5.6 million, and SG&A expenses were $8.4 million. The net loss for the quarter was $11.7 million, or ($0.20) per diluted share. Cash, cash equivalents, and marketable securities were $231.6 million as of September 30, 2020.
No revenue reported for Q3 2020 due to the sale of sterile injectable products.
R&D expenses decreased to $5.6 million compared to $7.5 million in Q3 2019.
SG&A expenses increased to $8.4 million compared to $5.3 million in Q3 2019.
Net loss for Q3 2020 was $11.7 million, or ($0.20) per diluted share.
Avadel
Avadel
Forward Guidance
The Company remains on track to submit the filing to the FDA by the end of December for FT218.