Avadel Pharmaceuticals plc(AVDL) GlobeNewswire·2025-01-08 21:15Core Insights - Avadel Pharmaceuticals reported approximately 19.5 million in Q4 2023 [1][5] - The company anticipates LUMRYZ net product revenue to be between 260 million in 2025, indicating a 50% year-over-year growth at the midpoint [1][10] - As of December 31, 2024, there were 2,500 patients on LUMRYZ, a more than 275% increase from 900 patients on the same date in 2023 [1][5] Financial Highlights - Full year net product revenue for 2024 is approximately 28.0 million in 2023 [5] - The company ended Q4 2024 with approximately 6.0 million due to approximately 1.5 fewer weeks of inventory in the channel compared to the previous quarter [5] Patient Adoption and Market Strategy - In Q4 2024, 600 patients initiated therapy with LUMRYZ, contributing to consistent demand across three patient segments: 38% switched from first-generation oxybates, 34% were new to oxybate, and 28% had previously tried and discontinued oxybates [1][5] - Approximately 74% of patients on therapy were reimbursed as of December 31, 2024 [5] - The company has expanded its field sales team by nearly 15% and doubled its field reimbursement team to enhance physician reach and patient fulfillment [5][10] Future Guidance - The company projects a net product revenue range of 260 million for 2025, with cash flow expected between 40 million [10] - The anticipated number of patients initiating therapy in 2025 is between 2,800 and 3,000, with total patients on therapy expected to reach between 3,300 and 3,500 by December 31, 2025 [10] - Ongoing patient enrollment in the REVITALYZ pivotal study, a Phase 3 trial for idiopathic hypersomnia, is expected to complete in the second half of 2025 [10]