– Company cost structure expected to be reduced by $70 to $75 million in 2019
– Approximately $100 million in cash and marketable securities at December 31, 2018
DUBLIN, Ireland, Feb. 07, 2019 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL), today announced a corporate restructuring to assure the financial health required to maximize the value of FT218, currently in Phase III development for the treatment of excessive daytime sleepiness (EDS) and Cataplexy in patients suffering from Narcolepsy. Avadel expects to realize $70 to $75 million in cost reductions in 2019 as compared to 2018 as a result of the restructuring plan, driven primarily by exiting NOCTIVA.
It is clear that FT218, an investigational, once-nightly …
Read the full article at: https://globenewswire.com/news-release/2019/02/07/1712096/0/en/Avadel-Pharmaceuticals-Announces-Restructuring-to-Focus-on-FT218-Clinical-Development-Program.html