Avadel Pharmaceuticals Reports Significant Revenue Growth

By Bobby Samwell • Thursday, January 09 10:15 • Permanent Link

Avadel Pharmaceuticals Plc (NASDAQ: AVDL) has announced its preliminary 2024 results and 2025 commercial priorities to accelerate the Lumryz launch. The key financial highlights include a significant increase in net product revenue and positive cash flow during the fourth quarter ending with approximately $73.0 million of cash, cash equivalents, and marketable securities at December 31, 2024.

In the fourth quarter, Avadel generated approximately $50.0 million of net product revenue, marking a greater than 150% increase compared to $19.5 million in the fourth quarter of 2023. The full-year net product revenue for 2024 was approximately $169.0 million, compared to $28.0 million in 2023.

The company's cash flow during the fourth quarter was also a positive $73.0 million, and it is providing a full-year 2025 guidance of net product revenue in the range of $240 – 260 million, representing a 50% increase at the midpoint of guidance from 2024. Additionally, Avadel estimates 2,800 – 3,000 patients initiating therapy and 3,300 – 3,500 total patients on therapy at December 31, 2025.

As of December 31, 2024, there were 2,500 patients on Lumryz, marking a more than 275% increase compared to 900 as of December 31, 2023. In the fourth quarter, the company saw 600 patients initiating therapy, and approximately 74% of patients on therapy were reimbursed.

To accelerate Lumryz's reach and improve persistency into 2025, Avadel has made several commercial investments, including expanding and upgrading the field sales team, doubling the field reimbursement team, and expanding patient ambassador direct-to-patient initiatives.

The company's pipeline updates include ongoing patient enrollment in the RevitaLyz pivotal study, a phase 3 double-blind, placebo-controlled, randomized withdrawal, multicenter study designed to evaluate the efficacy and safety of Lumryz in Idiopathic Hypersomnia (IH). Completion of this study is expected during the second half of 2025.

Today the company's shares have moved -1.6% to a price of $10.69. Check out the company's full 8-K submission here.

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