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AVDL

Avadel Pharmaceuticals plc

AVDL

Avadel Pharmaceuticals plc • NASDAQ
$21.49 ▲ 0.42% (+0.09)
Market Cap $2.08 B
52w High $23.57
52w Low $6.38
Dividend Yield 0%
P/E -1074.5
Volume 527.73K
Outstanding Shares 96.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $77.467M ▲ $78.531M ▲ $20K ▼ 0.026% ▼ $0 ▼ $3.584M ▼
Q2-2025 $68.129M ▲ $52.879M ▲ $9.665M ▲ 14.186% ▲ $0.1 ▲ $9.918M ▲
Q1-2025 $52.511M ▲ $49.935M ▲ $-4.92M ▲ -9.369% ▲ $-0.05 $-1.779M ▼
Q4-2024 $50.41M ▲ $48.895M ▲ $-5.043M ▼ -10.004% ▼ $-0.05 ▼ $-1.593M ▼
Q3-2024 $50.025M $44.197M $-2.625M -5.247% $-0.03 $1.318M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $91.577M ▲ $199.448M ▲ $101.223M ▲ $98.225M ▲
Q2-2025 $81.547M ▲ $187.157M ▲ $96.448M ▲ $90.709M ▲
Q1-2025 $66.484M ▼ $167.949M ▲ $93.879M ▲ $74.07M ▲
Q4-2024 $73.777M ▲ $164.236M ▲ $90.388M ▲ $73.848M ▼
Q3-2024 $65.807M $158.253M $83.59M $74.663M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $20K ▼ $23.26M ▲ $-8.791M ▼ $2.635M ▲ $16.411M ▲ $23.249M ▲
Q2-2025 $9.665M ▲ $12.697M ▲ $-8.254M ▼ $982K ▲ $7.032M ▲ $12.516M ▲
Q1-2025 $-4.92M ▲ $-8.232M ▼ $12.317M ▼ $690K ▼ $4.999M ▼ $-8.232M ▼
Q4-2024 $-5.043M ▼ $7.873M ▲ $14.913M ▲ $880K ▼ $22.789M ▲ $7.873M ▲
Q3-2024 $-2.625M $-6.89M $4.93M $1.177M $-265K $-6.89M

Revenue by Products

Product Q2-2020Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $0 ▲$50.00M ▲$70.00M ▲$80.00M ▲
Akovaz
Akovaz
 $0 ▲$0 ▲$0 ▲$0 ▲
Bloxiverz
Bloxiverz
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Products
Other Products
 $0 ▲$0 ▲$0 ▲$0 ▲
Vazculep
Vazculep
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Avadel is clearly in transition from a pure development company toward a commercial business. Revenue has only recently started to appear and is still very small compared with its overall cost base, which is why the company continues to report losses. The encouraging sign is that operating losses have narrowed compared with the prior year, suggesting early benefits from the launch of Lumryz, but the business is still far from self‑funding through sales. Profitability remains a medium‑term goal rather than a current reality.

Balance Sheet

Balance Sheet The balance sheet looks relatively lean. Total assets are modest, and cash represents a meaningful portion of those assets, but not an abundant cushion. On the positive side, debt has been reduced to essentially zero most recently, which lowers financial risk and interest burden. Shareholders’ equity has moved from negative to positive over the last few years, indicating gradual repair of the capital base, but it remains thin. Overall, financial flexibility exists but is limited, making future funding and careful cash management important considerations.

Cash Flow

Cash Flow Cash flow is still firmly in the investment phase. Operating cash flow has been negative for several years, reflecting ongoing spending on commercialization and development that is not yet covered by product sales. Free cash flow mirrors this pattern since capital spending is minimal; the main outflow is operating costs. There are signs of improvement in the latest year, with somewhat smaller cash burn, but the company still depends on its cash reserves and potential external financing to support operations and growth plans.

Competitive Edge

Competitive Edge Avadel holds a differentiated position in a focused niche: sleep medicine, especially narcolepsy. Lumryz’s once‑nightly dosing directly addresses a major inconvenience of competing oxybate products, creating a clear patient‑centric advantage. Orphan drug exclusivity and a meaningful patent estate further reinforce its position and offer protection from direct copycats for a time. However, the company is still a smaller player competing against established firms with broader portfolios, so market execution, payer acceptance, and physician uptake will be critical to sustaining this edge.

Innovation and R&D

Innovation and R&D The company’s innovation engine is built around proprietary drug‑delivery platforms, particularly Micropump, which enabled Lumryz’s extended‑release profile. Additional technologies in liquids and injectables broaden the toolkit, even if they are not the current commercial focus. R&D is targeted rather than sprawling: expanding Lumryz into additional sleep disorders and advancing a next‑generation, salt‑free oxybate are the key near‑ and medium‑term bets. This creates a coherent story but also concentration risk, as success depends heavily on a few programs and on positive clinical and regulatory outcomes.

Summary

Avadel looks like a classic emerging commercial biotech: an innovative product with clear patient advantages, early but still modest revenue, and ongoing losses as it builds out its market presence. The balance sheet has improved thanks to debt reduction and restored positive equity, yet remains relatively small, keeping attention on cash burn and funding needs. Competitively, Lumryz and the underlying technology provide a real point of differentiation in narcolepsy and potentially other sleep disorders, supported by regulatory exclusivity. At the same time, reliance on a narrow set of products and the need to convert clinical and commercial potential into sustained cash flow remain the central uncertainties for the years ahead.

NEWS

November 19, 2025 · 6:00 AM UTC

Alkermes plc Announces Increased Offer to Acquire Avadel Pharmaceuticals plc

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November 17, 2025 · 5:45 AM UTC

Avadel Board of Directors Declares Lundbeck Proposal a “Company Superior Proposal”

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November 14, 2025 · 5:45 AM UTC

Avadel Receives Unsolicited Proposal from Lundbeck

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November 5, 2025 · 11:10 AM UTC

FORM 8.1(a) & (b) - Avadel Pharmaceuticals plc

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November 4, 2025 · 4:01 PM UTC

Avadel Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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