Avadel Pharmaceuticals PLC Expects Strong Revenue Growth for 2024, Announces 2025 Priorities

Avadel Pharmaceuticals PLC, a biopharmaceutical company headquartered in Ireland, revealed its anticipated net product revenue for the fourth quarter of 2024 and the full year 2024. The company expects to report approximately $50 million in net product revenue for the last quarter of 2024, reflecting a significant increase compared to the $19.5 million reported for the same period in 2023. Furthermore, the projected net product revenue for the entire year of 2024 is approximately $169 million. As of December 31, 2024, Avadel anticipates having approximately $73 million in cash, cash equivalents, and marketable securities.

The disclosed information is preliminary and unaudited and may be subject to change pending the completion of the audit of the financial statements for the year ended December 31, 2024. Avadel Pharmaceuticals also released a press release titled “Avadel Announces Preliminary Fourth Quarter 2024 Results and 2025 Commercial Priorities to Expand and Accelerate LUMRYZ Reach” on January 8, 2025. This press release provides further details about the company’s financial performance.

In addition to the financial updates, the company announced significant advancements in its pipeline. Avadel Pharmaceuticals disclosed that the REVITALYZ study, a Phase 3 pivotal trial evaluating LUMRYZ as a potential treatment for idiopathic hypersomnia, is projected to be concluded in the second half of 2025.

With a cautionary tone, Avadel included forward-looking statements in the disclosure. These statements address the company’s future expectations, plans, and financial performance. Avadel emphasized that operational risks exist, and actual results could potentially differ from the projections outlined in the forward-looking statements. The company underscored the importance of considering these forward-looking statements within the context of inherent business risks.

Avadel Pharmaceuticals is focused on transforming medications to improve patients’ lives. The company’s flagship product, LUMRYZ, an extended-release sodium oxybate medication for narcolepsy, has garnered considerable attention. Avadel’s strategic initiatives for 2025 aim to enhance the market potential of LUMRYZ and solidify the company’s position in the sleep disorders space.

Investors and stakeholders can access the full details of Avadel Pharmaceuticals’ financial performance and operational updates through the official company press release and SEC filings. The company reiterates the significance of monitoring official channels for updated information and disclosures.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Avadel Pharmaceuticals’s 8K filing here.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.