AVDL - Avadel records rising costs in Q3 amid plans to launch narcolepsy therapy

The shares of Avadel Pharmaceuticals (AVDL +6.8%) have reached a 52-week high after the company reported better than expected financials for Q3 2021. Despite a delay in the FDA review of its narcolepsy candidate, CEO Greg Divis said that Avadel (NASDAQ:AVDL) was preparing for its launch subject to regulatory clearance. “We remain committed to patients and sleep specialists, demonstrated by the significant advances we made during 2021 to support a successful launch of FT218, if approved,” he stated. For Q3 2021, net loss at Avadel (AVDL) expanded by ~88% YoY to $22M as operating expenses jumped by ~87% YoY. SG&A expenses rose ~153% YoY growth to reach $21.3M amid plans to commercially launch FT218. FT218 is a sodium oxybate formulation, and company shares crashed last month on the announcement that its FDA review as a potential therapy for excessive daytime sleepiness (EDS) and cataplexy in narcolepsy had not met the target action

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Avadel records rising costs in Q3 amid plans to launch narcolepsy therapy