June 29 (Reuters) - ASL Strategic Value Fund plans to

push shareholders of drugmaker Avadel Pharmaceuticals ( AVDL )

to vote to remove the company's board, citing mismanagement in

the launch of its flagship sleep disorder drug, the Wall Street

Journal reported on Sunday.

The fund, which holds shares worth about $15 million in

Avadel, plans to publish an open letter arguing that the

mismanagement in the launch of the drug called Lumryz resulted

in the company missing out on hundreds of millions of dollars in

revenue, the report said, citing a copy of the letter.

The investment firm also reiterated a call to the

Ireland-based drugmaker to hire an investment bank and explore

alternatives including a sale, the report added.

Reuters could not independently establish the veracity of

the report. Avadel and ASL did not immediately respond to

Reuters' requests for comment.

Last year, the U.S. Food and Drug Administration approved

Lumryz for children aged 7 years and older who presented with

sudden muscle weakness, called cataplexy, or excessive daytime

sleepiness, both symptoms of the sleep disorder called

narcolepsy.

Narcolepsy is a chronic neurological disorder that impacts

the brain's ability to regulate sleep and wake cycles, with 70%

of patients also experiencing cataplexy.