Loading...
•
Sep 30, 2021
Avadel Q3 2021 Earnings Report
Announced third quarter 2021 financial results and provided a corporate update.
Key Takeaways
Avadel Pharmaceuticals reported a net loss of $22.0 million for the third quarter ended September 30, 2021. The company continues to advance its commercial team and payor discussions in anticipation of a potential FT218 launch.
R&D expenses were $4.4 million, down from $5.6 million in the same period last year.
SG&A expenses were $21.3 million, up from $8.4 million in the same period last year due to commercial launch planning costs related to FT218.
Net loss was $22.0 million, or ($0.38) per diluted share, compared to a net loss of $11.7 million, or ($0.20) per diluted share, for the same period in 2020.
Cash, cash equivalents and marketable securities were $181.1 million as of September 30, 2021.
Forward Guidance
The company is focused on the FDA review of the NDA for FT218 and preparing for its potential commercial launch.
Positive Outlook
- Confident in the strength of data
- No outstanding requests from the FDA at this time, and questions previously received have been addressed.
- Committed to patients and sleep specialists
- Significant advances made during 2021 to support a successful launch of FT218, if approved
- Payor discussions continue to advance
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...