Avadel reports Q1 LUMRYZ revenue $27.2M; patient starts up 70%; pediatric sNDA accepted

AVADEL PHARMACEUTICALS PLC

2024-Q1 EPS reported -$0.30 revenue$27,178,000

Q1 2024 net product revenue of $27.2M from LUMRYZ; gross profit $25.7M.
Net loss narrowed to $27.3M ($0.30 per share) vs. $30.8M ($0.48) in Q1 2023.
Over 1,700 patients initiated therapy (up >70% from Dec 31); RYZUP enrollments 2,800 (up ~50%).
FDA accepted sNDA for LUMRYZ in pediatric narcolepsy; PDUFA date set for Sept 7, 2024.
On track to enroll first patient in Phase 3 idiopathic hypersomnia trial in H2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AVADEL PHARMACEUTICALS PLC reported the quarter ended March 31, 2024 results: revenue $27.2 million, net income $27.3 million, EPS ($0.30) per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $27.2 million
Net income: $27.3 million
EPS: ($0.30) per diluted share
Result: reported results

Exact text from the filing

--- EX-99.1 2 tm2413641d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Avadel Pharmaceuticals Provides Corporate Update and Reports First Quarter 2024 Financial Results -- Generated $27.2 million in net revenue from sales of LUMRYZTM -- -- Through March 31, greater than 2,800 patients enrolled in Avadel’s RYZUP patient support services and more than 1,700 patients

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accession 0001104659-24-058415

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