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Dec 31, 2023
Avadel Q4 2023 Earnings Report
Reported fourth quarter and full year 2023 financial results.
Key Takeaways
Avadel Pharmaceuticals reported $19.5 million in net product revenue for the fourth quarter of 2023 from sales of LUMRYZ. R&D expenses were $2.4 million, and SG&A expenses were $41.3 million. The net loss for the quarter was $28.8 million, or ($0.32) per diluted share. Cash, cash equivalents, and marketable securities were $105.1 million as of December 31, 2023.
Generated $19.5 million in fourth quarter net revenue from sales of LUMRYZ™.
As of January 31st, greater than 2,200 patients enrolled in RYZUPTM and more than 1,200 patients initiated therapy.
Payer coverage now in place for greater than 80% of commercially covered lives for LUMRYZ through new listings including United Healthcare and Anthem.
FDA target action date of September 7, 2024, issued for the Supplemental New Drug Application (sNDA) for LUMRYZ in pediatric narcolepsy.
Revenue by Segment
Forward Guidance
Avadel Pharmaceuticals is looking forward to expanding the LUMRYZ indication for the pediatric narcolepsy population with the anticipated approval decision in September, initiating their Phase 3 pivotal trial program in idiopathic hypersomnia and continuing their robust commercial execution throughout 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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