Avadel Pharmaceuticals Sees Robust Uptake For Its Newly Approved Sleep Disorder Drug
Portfolio Pulse from Vandana Singh
Avadel Pharmaceuticals reported $7.0 million in net product revenue for Q3, exceeding analysts' estimates of $5.09 million. This revenue is largely due to the sales of Lumryz, a sleep disorder drug launched in the U.S. in June. The company also reported a Q3 EPS loss of $(0.41) versus $(0.33) a year ago. Over 1,000 patients enrolled in Avadel's RYZUP patient support services, with more than 400 patients initiating therapy with Lumryz during Q3. The company's shares are up 11.6% at $11.58.
November 08, 2023 | 6:18 pm
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Avadel Pharmaceuticals reported strong Q3 earnings driven by the sales of its sleep disorder drug, Lumryz. The company's shares are up 11.6%.
The strong Q3 earnings report, driven by the robust sales of Lumryz, has positively impacted Avadel's stock price. The company's shares are up 11.6%, indicating a positive market response to the earnings report.
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