AVDL - Avadel shares surge as company comments on recent trading activity

The shares of clinical-stage pharma Avadel Pharmaceuticals (NASDAQ:AVDL) have added ~35% in the pre-market Tuesday even as the company moved to address concerns over its recent trading volatility. On Monday, Avadel (AVDL) reported interim data for its lead product candidate is FT218, a once-nightly formulation of sodium oxybate targeted at excessive daytime sleepiness (EDS) or cataplexy in adults with narcolepsy. However, the shares crashed more than a third even after the company said that 94.3% (33/35 participants) patients, who took part in the open label study preferred the once-nightly treatment compared to a twice-nightly dosing regimen. “These interim results from the ongoing RESTORE study highlight the preference for the once-at-bedtime versus twice-nightly dosing regimen among people who have switched from the twice-nightly formulation,” Chief Medical Officer Douglas Williamson noted. However, Avadel (AVDL) surged in the post-market Tuesday, triggering a trading halt that has prompted the Chief Executive Greg Divis to deny any knowledge

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Avadel shares surge as company comments on recent trading activity