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Avadel Pharmaceuticals
(NASDAQ:AVDL)
Avadel Pharmaceuticals (AVDL) vs. SPDR S&P 500 ETF (SPY)
Avadel Pharmaceuticals Business Overview & Revenue Model
Avadel Pharmaceuticals Earnings Call Summary
Avadel Pharmaceuticals Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 248.52M | 169.12M | 27.96M | 0.00 | 0.00 | 22.33M |
| Gross Profit | 234.76M | 153.84M | 27.12M | 0.00 | 0.00 | 16.59M |
| EBITDA | 10.13M | -35.57M | -149.13M | -97.60M | -82.39M | 9.60M |
| Net Income | -278.00K | -48.83M | -160.28M | -137.46M | -77.33M | 7.03M |
Balance Sheet | ||||||
| Total Assets | 199.45M | 164.24M | 164.70M | 132.78M | 247.26M | 311.64M |
| Cash, Cash Equivalents and Short-Term Investments | 91.58M | 73.78M | 105.11M | 96.50M | 157.22M | 221.40M |
| Total Debt | 37.38M | 1.70M | 2.62M | 131.02M | 145.00M | 130.52M |
| Total Liabilities | 101.22M | 90.39M | 76.96M | 153.93M | 169.02M | 149.37M |
| Stockholders Equity | 98.22M | 73.85M | 87.74M | -21.14M | 78.24M | 162.27M |
Cash Flow | ||||||
| Free Cash Flow | 35.41M | -46.91M | -128.51M | -71.02M | -77.34M | -48.83M |
| Operating Cash Flow | 35.60M | -46.91M | -128.51M | -70.30M | -77.31M | -48.73M |
| Investing Cash Flow | 10.19M | 51.78M | -50.09M | 79.70M | 56.93M | -69.72M |
| Financing Cash Flow | 5.19M | 15.97M | 135.34M | 14.54M | 263.00K | 179.68M |
Avadel Pharmaceuticals Technical Analysis
Avadel Pharmaceuticals Risk Analysis
Avadel Pharmaceuticals Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.23B | 12.02 | 14.84% | ― | -0.03% | -27.66% | |
69 Neutral | $1.12B | 59.43 | 2.90% | ― | 3.14% | ― | |
64 Neutral | $1.85B | 50.54 | 7.83% | ― | 48.87% | ― | |
61 Neutral | $1.86B | -329.11 | -9.54% | ― | 47.83% | 84.72% | |
58 Neutral | $2.11B | -3,925.45 | -0.32% | ― | 79.88% | 99.60% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $1.13B | -6.26 | -17.46% | ― | -1.19% | 5.06% |
Avadel Pharmaceuticals Corporate Events
On December 18, 2025, Avadel Pharmaceuticals announced it had completed patient enrollment in REVITALYZ, its Phase 3 double-blind, placebo-controlled, randomized withdrawal trial of once-at-bedtime LUMRYZ (sodium oxybate) for idiopathic hypersomnia, a rare and severely debilitating sleep disorder affecting an estimated 40,000 diagnosed patients in the U.S. The trial, which includes both patients transitioning from immediate-release oxybates and those naïve to oxybate therapy, is designed to measure reductions in daytime sleepiness via the Epworth Sleepiness Scale at Week 14, alongside secondary endpoints on symptom severity, functional outcomes, and patient and clinician impressions of change; successful results could extend LUMRYZ’s footprint beyond narcolepsy into idiopathic hypersomnia, reinforcing Avadel’s position in the sleep-disorder market and potentially offering a once-nightly alternative in an underserved therapeutic area.
On December 8, 2025, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired for the acquisition of Avadel Pharmaceuticals by Alkermes, marking a significant step towards finalizing the transaction. The acquisition, structured as a scheme of arrangement, still requires customary closing conditions, including shareholder approval and court sanction, which could impact Avadel’s market position and stakeholder interests.
On November 18, 2025, Avadel Pharmaceuticals and Alkermes plc amended their original transaction agreement, increasing the cash consideration for Avadel’s shares from $18.50 to $21.00 per share, with the contingent value right remaining unchanged. This amendment followed an unsolicited proposal from H. Lundbeck A/S, which was initially considered superior by Avadel’s board. However, after reviewing both offers, Avadel’s board determined that Alkermes’ revised terms were more favorable, particularly the terms of the contingent value right. The acquisition, valuing Avadel at up to $2.37 billion, is expected to close in the first quarter of 2026, pending conditions and regulatory approvals.
On November 17, 2025, Avadel Pharmaceuticals announced that its Board of Directors has deemed an unsolicited proposal from H. Lundbeck A/S to acquire Avadel as a ‘Company Superior Proposal.’ The Lundbeck proposal values Avadel at up to $23.00 per ordinary share, totaling approximately $2.4 billion, and represents a 29% premium over Avadel’s closing price before the announcement of its acquisition by Alkermes. Avadel has notified Alkermes of this determination, triggering a five-day period for potential negotiations with Alkermes to amend their existing transaction agreement. During this period, Avadel’s Board will evaluate any revised proposal from Alkermes before making a final decision. Currently, no action is required from Avadel shareholders, and the Alkermes Transaction Agreement remains in effect.
On November 14, 2025, Avadel Pharmaceuticals announced receiving an unsolicited acquisition proposal from H. Lundbeck A/S, offering up to $23.00 per ordinary share, which includes cash and contingent value rights based on future sales milestones. The Avadel Board considers this proposal potentially superior to its existing agreement with Alkermes, which offers up to $20.00 per share. However, Avadel’s Board has not yet determined the Lundbeck proposal as superior and continues to support the Alkermes acquisition while engaging in discussions with Lundbeck.
On October 22, 2025, Avadel Pharmaceuticals entered into a transaction agreement with Alkermes, under which Alkermes will acquire Avadel for up to $20.00 per share, valuing the transaction at approximately $2.1 billion. This acquisition, expected to close in the first quarter of 2026, will make Avadel a wholly-owned subsidiary of Alkermes, enhancing Alkermes’ entry into the sleep medicine market and expanding its commercial portfolio with Avadel’s product, LUMRYZ™. The deal is anticipated to be immediately accretive, enhancing Alkermes’ revenue growth and profitability, while leveraging Avadel’s established commercial infrastructure and expertise in rare diseases.
On October 21, 2025, Avadel CNS Pharmaceuticals, a subsidiary of Avadel Pharmaceuticals, reached a settlement with Jazz Pharmaceuticals to resolve multiple lawsuits. As part of the agreement, Jazz will pay Avadel $90 million and waive royalties on LUMRYZ sales through September 30, 2025. Both companies will dismiss their lawsuits, and Jazz will grant Avadel a worldwide license for patents related to LUMRYZ. Avadel will pay Jazz royalties on LUMRYZ sales for narcolepsy and other indications. This settlement provides Avadel with long-term clarity on its intellectual property and commercial rights, positioning it to advance its sleep medicines portfolio.