Avadel Pharmaceuticals Announces Restructuring to Focus on FT218 Clinical Development Program
Avadel Pharmaceuticals plc - Ordinary Share (AVDL)
Last avadel pharmaceuticals plc - ordinary share earnings: 3/12 07:00 am
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Source: GlobeNewswire
- Company cost structure expected to be reduced by $70 to $75 million in 2019 – - Approximately $100 million in cash and marketable securities at December 31, 2018 – DUBLIN, Ireland, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Avadel Pharmaceuticals plc (Nasdaq: AVDL), today announced a corporate restructuring to assure the financial health required to maximize the value of FT218, currently in Phase III development for the treatment of excessive daytime sleepiness (EDS) and Cataplexy in patients suffering from Narcolepsy. Avadel expects to realize $70 to $75 million in cost reductions in 2019 as compared to 2018 as a result of the restructuring plan, driven primarily by exiting NOCTIVA™. “It is clear that FT218, an investigational, once-nightly formulation of sodium oxybate, is the Company’s most promising and commercially-attractive asset targeting a large orphan market with an estimated value of nearly $1.5 billion in 2018,” said Greg Divis, interim Chief Executive Officer of Avadel. “I
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AVDL
Earnings
- 11/8/23 - Miss
AVDL
Sec Filings
- 4/15/24 - Form 8-A12B
- 4/15/24 - Form 8-K
- 3/4/24 - Form 8-K
- AVDL's page on the SEC website