Avadel Provides Business Update; held $105M Of Cash, Cash Equivalents And Marketable Securities At December 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Avadel Pharmaceuticals provided a business update, revealing that it held approximately $105 million in cash, cash equivalents, and marketable securities as of December 31, 2023. The company also estimated net product revenue of about $19 million for the quarter and $28 million for the year ended on the same date.
January 08, 2024 | 12:20 pm
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Avadel Pharmaceuticals reported holding $105 million in cash and equivalents, with estimated net product revenues of $19 million for Q4 and $28 million for the year as of December 31, 2023.
The announcement of a strong cash position and solid revenue figures is generally perceived positively by investors, as it indicates financial stability and potential for future growth. This could lead to a short-term positive impact on Avadel's stock price.
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