Avadel Pharmaceuticals Plunges 25%+ After Hours on Poorly Received Q4 Revenues and Forward Guidance

AVDL fell 25.2% to $8 shortly before 5 p.m. ET after the company announced that Q4 revenues will come in at $50 million – below the $52.7 million that analysts had reportedly expected.

The company likewise guided revenues for 2024 as a whole to $169 million, trailing the $171.4 million that published reports indicated analysts had forecast.

Similarly, the company guided 2025 revenues to a $240 million-$260 million range – short of the $291.3 million that analysts had reportedly been modeling.

Avadel makes a single product called Lumryz, which treats excessive daytime sleepiness in adults.

CEO Greg Divis said in announcing the company's guidance that 2024 "was a pivotal year for Avadel, marked by consistent patient adoption of Lumryz and overwhelmingly positive feedback from both patients and providers about the transformative benefits of once-nightly dosing.

"As we move into 2025, we are building on this momentum with a refined commercial strategy to increase demand for and persistency on Lumryz, with the primary goal of enhancing the overall Lumryz experience for both patients and providers," Divis said.