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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.
Avadel
Avadel
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