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Avadel to present new data on LUMRYZ at SLEEP 2024 conference

Published 23/05/2024, 03:44 am
AVDL
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DUBLIN - Avadel Pharmaceuticals plc (NASDAQ: NASDAQ:AVDL), a biopharmaceutical company, announced its participation in SLEEP 2024, the 38th annual meeting of the American Academy of Sleep Medicine and the Sleep Research Society, with multiple presentations on LUMRYZ, its FDA-approved narcolepsy treatment.

The conference will take place from June 1-5 in Houston, where Avadel will showcase 11 posters and one oral presentation.

LUMRYZ, an extended-release formulation of sodium oxybate, received FDA approval in May 2023 for once-at-bedtime use to treat cataplexy or excessive daytime sleepiness in adults with narcolepsy. This treatment is notable for its single nighttime dose, contrasting with other oxybate treatments that require a second dose during the night.

According to Avadel, new findings from the RESTORE study will be highlighted, indicating high patient satisfaction with LUMRYZ. The study reports that 94% of patients who switched from a twice-nightly oxybate prefer the once-nightly dosing of LUMRYZ, with 91% of participants experiencing improved sleep continuity and 89% willing to recommend LUMRYZ to others with narcolepsy.

The company will also present data on the consistent and acceptable dissolution of LUMRYZ in various flavored liquids, potentially offering patients a more palatable alternative to water. Additionally, a post hoc analysis from the REST-ON clinical trial suggested the efficacy of LUMRYZ across different demographics and baseline disease characteristics.

Despite its therapeutic benefits, LUMRYZ comes with a boxed warning due to its potential for central nervous system depression, abuse, and misuse. It is only available through a restricted program under the LUMRYZ REMS.

The most common adverse reactions for LUMRYZ include nausea, dizziness, enuresis, headache, and vomiting. The presentations at SLEEP 2024 aim to further establish the clinical benefits and patient preference for LUMRYZ as a treatment option.

Avadel will also host a symposium for healthcare professionals to discuss the evolution of narcolepsy care with LUMRYZ, featuring expert perspectives and a patient's experience.

This article is based on a press release statement from Avadel Pharmaceuticals plc.

InvestingPro Insights

As Avadel Pharmaceuticals plc (NASDAQ: AVDL) continues to make strides in the treatment of narcolepsy with its FDA-approved product LUMRYZ, the financial landscape of the company provides additional insights for investors. According to real-time data from InvestingPro, Avadel boasts a market capitalization of $1.54 billion, reflecting investor confidence in the company's growth potential. The firm operates with a moderate level of debt, which is an important consideration for stakeholders assessing the company's financial health.

InvestingPro Tips suggest that while analysts are optimistic about Avadel's sales growth in the current year, they do not expect the company to be profitable this year. This aligns with the company's Price/Earnings (P/E) Ratio, which stands at -8.92, and the adjusted P/E Ratio for the last twelve months as of Q1 2024, which is at -10.69. These figures indicate that the market is pricing Avadel's shares in anticipation of future earnings rather than current profitability.

Despite not being profitable over the last twelve months, Avadel's liquid assets exceed its short-term obligations, which could provide some reassurance to investors about the company's ability to meet its short-term liabilities. However, the company is trading at a high revenue valuation multiple and a high Price/Book multiple of 19.62, suggesting that Avadel's stock might be priced premiumly relative to its book value and revenue.

For investors seeking a deeper dive into Avadel's financial metrics and strategic positioning, there are additional InvestingPro Tips available at https://www.investing.com/pro/AVDL. These tips provide comprehensive analysis and could further inform investment decisions. To access these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

The company's participation in SLEEP 2024 and the positive reception of LUMRYZ could be pivotal in shaping Avadel's future trajectory. With the company's focus on innovation and patient satisfaction, it remains to be seen how these factors will reflect in its financial performance in the upcoming quarters.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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