Avadel Pharmaceuticals plc is a biopharmaceutical company headquartered in Dublin, Ireland, with operations in the United States. The company specializes in developing and commercializing innovative medicines for chronic conditions. Its primary product is LUMRYZ, an extended-release formulation of sodium oxybate, designed for the treatment of cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.
- LUMRYZ - Provides a once-at-bedtime treatment for cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy. Approved by the FDA in May 2023, it is the company's sole commercialized product and benefits from Orphan Drug Exclusivity until May 2030.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gregory J. Divis ExecutiveBoard | Chief Executive Officer and Director | None | Gregory J. Divis joined Avadel in January 2017, became COO in March 2018, and CEO in June 2019. He has over 25 years of pharmaceutical industry experience. | View Report → |
Jerad G. Seurer Executive | General Counsel and Corporate Secretary | None | Jerad G. Seurer joined Avadel in October 2017 and became General Counsel in September 2020. | |
Richard J. Kim Executive | Chief Commercial Officer | None | Richard J. Kim joined Avadel in February 2021, overseeing commercial strategy and execution. | |
Thomas S. McHugh Executive | Chief Financial Officer | None | Thomas S. McHugh has been CFO since December 2019, overseeing financial operations and compliance. | |
Geoffrey M. Glass Board | Chair of the Board of Directors | CEO of Kiniciti, LLC; Chairman of Ncardia and Abzena; Operating Partner at LongueVue Capital | Geoffrey M. Glass joined the Board in July 2018 and became Chair in December 2018. He has extensive management and financial expertise. | |
Linda S. Palczuk Board | Director | None | Linda S. Palczuk has been a director since July 2018, with extensive pharmaceutical management experience. | |
Mark A. McCamish, M.D., Ph.D. Board | Director | CEO of IconOVir Bio, Inc.; Board Member at Rafael Holdings, Inc. and Shasqi Pharma, Inc. | Dr. McCamish has been a director since December 2019, with over 30 years of experience in life sciences. | |
Naseem S. Amin, M.D. Board | Director | CEO of Orphalan SA; Chairman of Arix Bioscience plc; Advisory Board Member at Imperial College; Chairman of OPEN-London | Dr. Amin joined the Board in May 2024, bringing 30 years of industry experience. | |
Peter J. Thornton Board | Director | President and CFO of Envetec Sustainable Technologies Limited; Non-Executive Director of Oculer Limited | Peter J. Thornton has been a director since June 2017, with financial expertise and corporate governance experience. |
- With the shift towards new to oxybate patients leading to lower persistency rates and potential impacts on net patient adds, how do you plan to address this challenge and improve persistency among these patients?
- Given the anticipated seasonality impacts and higher gross-to-net deductions in Q4, how might these factors affect your financial performance, and what strategies are in place to mitigate them?
- Considering the ongoing patent litigation with Jazz Pharmaceuticals and the potential financial implications of royalty adjustments, how are you preparing for these outcomes, and can you provide an update on the status of post-trial motions and royalty rate discussions?
- As competitors continue to grow their patient base in the narcolepsy setting and with the potential entry of orexin agonists, how do you plan to maintain and strengthen LUMRYZ's market position, particularly among narcolepsy type 2 patients?
- Despite consistent patient growth, you mentioned that new to oxybate patients require more support due to lower persistency; what specific investments and strategies are you implementing to enhance patient support and ensure long-term adherence?
Research analysts who have asked questions during AVADEL PHARMACEUTICALS earnings calls.
Ami Fadia
Needham & Company, LLC
4 questions for AVDL
David Amsellem
Piper Sandler Companies
4 questions for AVDL
David Hoang
Citigroup
3 questions for AVDL
Marc Goodman
Leerink Partners
3 questions for AVDL
Andrew Tsai
Jefferies
2 questions for AVDL
Chase Knickerbocker
Craig-Hallum Capital Group
2 questions for AVDL
François Brisebois
Oppenheimer & Co. Inc.
2 questions for AVDL
Lin Tsai
Jefferies
2 questions for AVDL
Myriam Belghiti
LifeSci Capital
2 questions for AVDL
Oren Livnat
H.C. Wainwright
2 questions for AVDL
Ash Birma
UBS
1 question for AVDL
Ash Verma
UBS
1 question for AVDL
Brandon Folkes
Rodman & Renshaw
1 question for AVDL
Raghuram Selvaraju
H.C. Wainwright & Co.
1 question for AVDL
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Caremark LLC | Specialty Pharmacy | All | 53% of 2024 AR ($18.07M) , 44% of 2024 revenue ($74.41M) |
Accredo Health Group, Inc. | Specialty Pharmacy | All | 25% of 2024 AR ($8.52M) , 37% of 2024 revenue ($62.57M) |
Optum Frontier Therapies LLC | Specialty Pharmacy | All | 22% of 2024 AR ($7.50M) , 19% of 2024 revenue ($32.13M) |
Recent press releases and 8-K filings for AVDL.
- Avadel Pharmaceuticals reported net product revenue of $77.5 million from LUMRYZ sales for the third quarter ended September 30, 2025, representing a 55% increase compared to the same period in 2024.
- As of September 30, 2025, approximately 3,400 patients were being treated with LUMRYZ, a 48% increase compared to September 30, 2024.
- The company announced a definitive agreement for Alkermes plc to acquire Avadel for total transaction consideration of up to $20.00 per share in cash, valuing Avadel at approximately $2.1 billion. The transaction is expected to close in the first quarter of 2026.
- Avadel entered into a global settlement agreement with Jazz Pharmaceuticals, dismissing all litigation and allowing Avadel to commercialize LUMRYZ for indications beyond narcolepsy as soon as March 1, 2028.
- For the quarter ended September 30, 2025, Avadel reported net income of $20 thousand, compared to a net loss of $2.6 million for the same period in 2024.
- Alkermes plc has entered into a definitive agreement to acquire Avadel Pharmaceuticals plc for total consideration of up to $20.00 per share in cash, valuing the transaction at approximately $2.1 billion.
- The acquisition price includes $18.50 per share in cash at closing and a Contingent Value Right (CVR) for an additional $1.50 per share, payable upon final FDA approval of LUMRYZ™ for idiopathic hypersomnia by the end of 2028.
- This transaction represents a 38% premium to Avadel's weighted average trading price over the three months prior to October 22, 2025, and is expected to close in the first quarter of 2026.
- The acquisition is anticipated to be immediately accretive to Alkermes, enhancing its revenue growth and profitability by adding Avadel's FDA-approved product, LUMRYZ™, to its commercial portfolio.
- Avadel Pharmaceuticals plc expects net revenues for 2025 to be between $265 million and $275 million.
- Avadel Pharmaceuticals plc and Jazz Pharmaceuticals Inc. have entered into a global settlement resolving all litigation between the companies, effective October 21, 2025.
- As part of the agreement, Jazz will make a $90 million payment to Avadel and grant Avadel a perpetual, worldwide license for patents that could be asserted against LUMRYZ.
- Avadel will pay Jazz ongoing royalties of 3.85% of net sales for LUMRYZ in narcolepsy and 10% of net sales for LUMRYZ in other indications (including idiopathic hypersomnia) through February 18, 2036, with royalties for narcolepsy sales starting October 1, 2025.
- The settlement provides a pathway for LUMRYZ to be sold for future FDA-approved indications, such as idiopathic hypersomnia, beginning no earlier than March 1, 2028.
- Avadel Pharmaceuticals plc entered into an exclusive global license agreement with XWPharma Ltd. on August 29, 2025, for valiloxybate, a GABAB receptor agonist, for all indications including narcolepsy and idiopathic hypersomnia.
- Valiloxybate is designed as a once-at-bedtime, salt-free, and artificial sweetener-free oxybate formulation, intended to expand Avadel's sleep medicine portfolio.
- Under the terms of the agreement, Avadel will pay XWPharma an upfront payment of $20 million , potential development milestones of up to $30 million , and tiered sales milestones up to $155 million for annual net sales up to $750 million, with additional payments for higher sales.
- Avadel also agreed to pay tiered royalties ranging from high-single digit to mid-teens as a percentage of annual net sales of the licensed products.
- Initial pharmacokinetic studies for valiloxybate are expected to begin in the fourth quarter of 2025, with a pivotal PK trial planned for the second half of 2026.
- Robust Q1 performance: Achieved net revenue of $52.5M with a 93-100% year-over-year increase driven by strong LUMRYZ sales
- Revised FY25 guidance: Raised outlook to $255M–$265M in net revenue, with Q2 revenue expected at $60–$63M and cash flow guidance increased to $30–$40M
- Favorable legal developments: On May 6, 2025, the Federal Circuit overturned key parts of the injunction, unlocking new clinical trials and enabling FDA pursuit of LUMRYZ approvals beyond narcolepsy, including idiopathic hypersomnia
- Significant patient growth: Recorded a net addition of 300 patients, achieving 100% year-over-year growth and raising the therapy outlook to 3,400–3,600 by year-end
- Robust clinical trial activity: Enrollment in the Phase 3 REVITALYZ trial remains strong with anticipated completion by Q4 2025 and top-line data expected in 1H25
- Improved operational efficiency: Operating expenses decreased by 3%, supporting a move toward sustainable positive cash flow
- Avadel Pharmaceuticals presented its update at the Needham Virtual Healthcare Conference on April 8, 2025, highlighting improved patient demand metrics for LUMRYZ compared to Q4 2024.
- The company reported that its REVITALYZ Phase 3 trial for LUMRYZ in Idiopathic Hypersomnia is on track to complete enrollment in the second half of 2025.
- Avadel also noted that it has initiated four patent infringement lawsuits against Jazz Pharmaceuticals and anticipates generating sustainable positive cash flow in 2025.
- LUMRYZ Launch and Clinical Value: The call focused on the commercial progress of LUMRYZ, Avadel’s once-at-bedtime oxybate therapy for narcolepsy, achieving rapid market adoption with over 2,500 net new patients within the first 18 months since approval.
- Expanded Commercial Efforts: The company detailed strategic investments including an increased sales force, enhanced field and patient support teams, and direct-to-patient initiatives aimed at driving quarter-over-quarter revenue growth with a forecast of approximately 50% revenue growth in 2025 vs. 2024.
- Patient Mix Optimization: Emphasis was placed on balancing the mix between switch patients (from first-generation oxybates) and new-to-oxybate patients to improve patient persistency and treatment outcomes, with recent trends showing around 60% new patients in the latter half of 2024.
- Litigation and Future Indications: The executives addressed ongoing legal proceedings regarding the idiopathic hypersomnia injunction, expecting a decision in Q2, while affirming plans to expand LUMRYZ’s indications through new clinical studies and FDA submissions.