Avadel Pharmaceuticals plc (AVDL - Free Report) is an emerging biopharmaceutical company, that currently markets a portfolio of sterile injectable drugs developed under its unapproved marketed drug (UMD) program.
Avadel is developing its lead product candidate, FT218, an investigational once-nightly formulation of sodium oxybate for the treatment of excessive daytime sleepiness (EDS) and cataplexy in narcolepsy patients. In April 2020, the company announced positive top-line results from the pivotal phase III study, REST-ON, which evaluated FT218 for the given indication. The study met its three co-primary efficacy endpoints with all three doses of FT218 (9 g, 7.5 g and 6 g), thus demonstrating highly significant, clinically meaningful improvements compared to placebo.
In the last reported quarter, Avadel delivered a positive earnings surprise of 72.00%.
Currently, Avadel has a Zacks Rank #2 (Buy). We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Avadel reported loss of 2 cents per share in the first quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of 27 cents. Moreover, year over year loss narrowed 94.2%.
Revenues Beat: Revenues were down 25.6% year over year at $12.2 million. Revenues also beat the Zacks Consensus Estimate of $10.2 million.
Key Stats: Avadel’s top line mainly comprises sales of sterile injectable drugs used in hospital setting. Revenues declined yearly in first quarter 2020 due to lower overall sales volume for hospital products as a result of increased market competition. Selling, general and administrative expenses were down 24% to $7.9 million while Research & development expenses decreased 24.6% to $5.5 million. The company ended the quarter with $113.5 million in cash and cash equivalents.
Share Price Impact: Shares of Avadel were inactive in pre-market trading.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Avadel Pharmaceuticals plc (AVDL - Free Report) is an emerging biopharmaceutical company, that currently markets a portfolio of sterile injectable drugs developed under its unapproved marketed drug (UMD) program.
Avadel is developing its lead product candidate, FT218, an investigational once-nightly formulation of sodium oxybate for the treatment of excessive daytime sleepiness (EDS) and cataplexy in narcolepsy patients. In April 2020, the company announced positive top-line results from the pivotal phase III study, REST-ON, which evaluated FT218 for the given indication. The study met its three co-primary efficacy endpoints with all three doses of FT218 (9 g, 7.5 g and 6 g), thus demonstrating highly significant, clinically meaningful improvements compared to placebo.
In the last reported quarter, Avadel delivered a positive earnings surprise of 72.00%.
Currently, Avadel has a Zacks Rank #2 (Buy). We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Avadel reported loss of 2 cents per share in the first quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of 27 cents. Moreover, year over year loss narrowed 94.2%.
Revenues Beat: Revenues were down 25.6% year over year at $12.2 million. Revenues also beat the Zacks Consensus Estimate of $10.2 million.
Key Stats: Avadel’s top line mainly comprises sales of sterile injectable drugs used in hospital setting. Revenues declined yearly in first quarter 2020 due to lower overall sales volume for hospital products as a result of increased market competition. Selling, general and administrative expenses were down 24% to $7.9 million while Research & development expenses decreased 24.6% to $5.5 million. The company ended the quarter with $113.5 million in cash and cash equivalents.
Share Price Impact: Shares of Avadel were inactive in pre-market trading.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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