Overview

* Avadel Q3 net product revenue rises 55% yr/yr to $77.5 mln

* However, net income for missed analysts' expectations as costs rose sharply

Outlook

* Company expects Alkermes acquisition to close in Q1 2026

* Avadel progressing REVITALYZ trial for LUMRYZ, completion expected by end of 2025

* Settlement with Jazz allows LUMRYZ commercialization beyond narcolepsy from March 2028

Result Drivers

* LUMRYZ SALES GROWTH - Co reports 55% increase in LUMRYZ net product revenue compared to Q3 2024

* PATIENT UPTAKE - Co saw 48% increase in patients using LUMRYZ as of September 30, 2025

* ROYALTY COST REVERSAL - Gross profit boosted by reversal of $9.5 mln in royalty costs following settlement with Jazz

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $77.46

Product mln

Revenue

Q3 EPS

Q3 Net Miss $20,000 $7.71

Income mln (8

Analysts

)

Q3 Miss $1.93 $9.28

Operatin mln mln (8

g Income Analysts

)

Q3 Miss $54,000 $6.56

Pretax mln (10

Profit Analysts

)

Q3 Basic

EPS

Q3 $79.64

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy."

* Wall Street's median 12-month price target for Avadel Pharmaceuticals PLC ( AVDL ) is $20.00, about 5.4% above its November 3 closing price of $18.92

* The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)