AVDL - Earnings call transcript Q3 2024 | Avadel Pharmaceuticals plc

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Operator

Good day, everyone, and welcome to today's Avadel Pharmaceuticals 3Q '24 Earnings Call. [Operator Instructions] Please note, this call is being recorded [Operator Instructions]. It is now my pleasure to turn the conference over to Austin Murtagh with Precision AQ.

Austin Murtagh

Good morning, and thank you for joining us on our conference call to discuss Avadel's Third Quarter 2024 results.

As a reminder, before we begin, the following presentation includes several matters that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. which are included Avadel's for SEC in ended XX, uncertainties the filings the filings. and February December Act on Exchange the XXXX, risks described and public in under year XX, These XXXX, filed subsequent was Form XX-K

any reflect Except revise new events otherwise. law, information, update by in contained required undertakes no future statements as to this obligation Avadel or forward-looking presentation to or

Tom today are of Chief Greg Divis, Chief Officer; Jennifer Executive Dr. Kim, turn and Affairs, Medical will President call Chief Commercial additionally for Richard Gudeman, Officer; the of the join time, the portion call. At McHugh, Clinical Vice I'll Officer; over Financial call us Greg. On Senior Q&A this the and to

Gregory Divis

Good us. everyone, for morning, you thank Austin. joining and Thank you,

opening review quarter our progress, provide on an Following Richard third will then update and will my our remarks, Tom financial results. commercial

We question-and-answer a session. will conclude then with

me QX call, our start today's summarizing begin we let As by results.

we consistent growth fronts. of Another quarter across making delivered number patient LUMRYZ where in launch, additional a important progress while again, once our

key As our results real that to patients work are of with potential have serving it clear to our and how and new much launch next patients all as be the on today, phase to advance, full to there is for including are promise moving source impact continue make such, executed to that we stakeholders. of remains on full we the a recognition And our begun we LUMRYZ our launch. the LUMRYZ the detail of we metrics deliver

revenue were of who QX, the QX, LUMRYZ XX third the Or detail on we during in as and XXX shortly. saw net $XX that in quarter. trends. during metrics launch X,XXX Richard September to Turning following cover will therapy in in therapy more We patients there specifically million active resulting patients, initiated reported the

treated and and continued QX starts the continue continued patients in discontinued beginning due largest segments, trend to launch. representation with to all the patients. that make patient previously from patient from switches switch First, new we product, of the X up since Switch oxybate most strong see oxybate of a has portion salt mixed coming

early launch that this in based to on rates product. we in as taking and trends regard on historical our are the oxybate detail we data, twice-nightly new this can see this LUMRYZ Richard expect to oxybate provide more we persistency narcolepsy. October, will in Orphan daytime actions and patient to in investments patients for sleepiness pediatric approval X to treating all additional older transitioning LUMRYZ. Furthermore, were in represent to even receipt we which excessive LUMRYZ's which who from as of anticipated. With lastly, are well to oxybate the to patient existing to prescribers launch, never of expansion oxybate segment these not it's starts, in note oxybate initial are patients of both potential overall market, LUMRYZ's demand, important is of being our written indicators it's the earlier And leading happening new emerging prior expansion the fastest-growing points data we as availability. coming who patient despite of patients and or FDA of and making than important LUMRYZ have are cataplexy support had lower to we core Exclusivity believe focus oxybate an signs Second, years new prescribers, pleased previously on emerging a announce with this Drug

twice-nightly to pediatric to patient major be its clinically in LUMRYZ As on the population products patient superior contribution care. with is adult determined patients, to the based

disorders is burden for proud an patient went treating medically this dosing people recognized families to narcolepsy. physiology. We've to to the that feedback with fragmentation offer and LUMRYZ say, sleep sleep LUMRYZ dosing an be LUMRYZ's all pattern and oxybate. is and because able patients is have commercially restore with sleep narcolepsy. regimen We're on to being healthier children on based to and providers, twice-nightly possible on provides this sleep their from for FDA not prescribed and direct disruption always that first-generation to opportunity stated a of and with And limitations eligible and caregivers. available Specifically, goal minimize by in a FDA a children in relevant oxybate is narcolepsy currently architecture is of the their sleep on regard, way used patients for normal a with a to

our Lastly, ongoing in evaluating is hypersomnia potential in benefit turning are study, adults IH. our we III clinical with portfolio idiopathic Enrollment indication efforts. to LUMRYZ or where expansion Phase and REVITALYZ

have from hear the their also with second deep We sleep for up associated difficulty clinicians inertia given patients waking that IH. physically IH dose,

potentially So patients but much IH not also important, for is only needed. LUMRYZ having very available

addition all In the FDA a formulations, standards. oxybate seeking Phase or required meets LUMRYZ IH continue we profile study, our our development is that of to to bioequivalent III once-at-bedtime low-sodium, and preclinical no- product target

development early future when formulation to we remains stages, program and advance. this preclinical provide programs plan as As in updates these will

Columbia superiority Beyond District based affirming recently for announced Court's decision our of clinical we the LUMRYZ ruling on unique its FDA's commercial dosing progress, approval favorable profile. the once-nightly and and clinical

launch, with mitigating legal and the We for are risk a pleased as company. reasons number we for an LUMRYZ continue our business of while this executing important

approval our drug bolstered quarter by trial launch initiation affirmative execution and third of IH the of ATA key consistent III granted the District the LUMRYZ. another The with award represented for decision exclusivity FDA in summary, court pediatric the of litigation. by developments, second In LUMRYZ Phase along the additional quarter orphan Columbia

pursuit clear we near-term drivers, of LUMRYZ continued including management launch details the on over Richard a launch the our towards growth, for the value realizing cycle and products. Richard? of for turn look our efforts, our the to all of life executing potential now in for vision all we remain on As call stakeholders. I'll with full focused XXXX LUMRYZ

Richard Kim

excited much we be had on of amaze this here end impact an has third community. the discuss to detail. launch how quarter, morning and everyone. more in made It us our And X,XXX Thank good continues morning, you, patients At the Greg's across sentiments. of earlier Echoing LUMRYZ commercial to therapy. I'm the to market

We patients, the of showing pace quarter, in demand third had new been with patient also that saw XXX who consistent. starts solid has initiated a therapy

the patient to segments. Turning

always oxybate for oxybate growth for be by narcolepsy are will have LUMRYZ as believed seeing new emerge And that patient we driven patients. to now We growing fastest-growing oxybate the the in new to initiations. segment segment

LUMRYZ for patients extremely on patients. of comparative the patient therapy. for is first these a date, compelling dosing be to launched are segment they continue and a will as bedtime group our generation key patients switching initiations to For to largest from oxybate once value proposition They

We seen with previously patients, trends and have consistent discontinued oxybate. also quarter-over-quarter tried who have

in an have patients growth the new With oxybate in persistency for patient terms segment, overall this LUMRYZ. the of to on the does impact

First, improved and the overall importantly, switch for persistency is on This to LUMRYZ based new and has to we twice-nightly the both oxybate oxybate. data we see compared have, that to patients.

that doubling persistency several to switch These that care to regarding their When and time started discontinuation. while However, patients we first of this address higher prior RYZUP, can earlier number weeks lead patients. not some make have frequent dose, navigators and the of do can are not their rates efforts versus key in new overall are especially not clear patients and the surprisingly, efforts take to lower find experience balancing optimal tolerability, it oxybate need to of patients seeing persistency. education with engagement, to therapy. We and nurse tolerability during increasing include rates investments more These efficacy. oxybates,

from not the we for have increased only engagement, In cadence RYZUP, patient the pharmacies. specialty addition, also from but

September volume and offices up for also prescribers. refilling ACPs are LUMRYZ. and doubling pleased supports about highest LUMRYZ. continue now in XX, that are LUMRYZ XX% that of We rig our in team There XXX both writers who an perspective, patients to the ACP are we that of volume. From the And field increase market make XX% we oxybate initiating at

also We to and LUMRYZ's patients prescribers more volume oxybate more for eligible than treat see availability. to to prior begin LUMRYZ continue write lower

practitioners, have for XXX group LUMRYZ. providers, about health for now up a continued represents This expansion an we quarter. now prior, write which of had over than never more seen Additionally, oxybate written from care last is who XXX

to expand oxybate prescribers, and who as team the volume have and prescribers targeted frequency with oxybate. previously not moderate we to lower our For sales decision these as have coverage well reasons, made our increase used

continued we for have years consistent our close, increases far already we recent have patients, the also volume While on a are against executing moderate, launch time, highest groups foundation we of our solid maintaining prescriber expansion launch. Further, focus excited we on in growth age an We narcolepsy in forward. for been believe and another LUMRYZ starts, of based approval pediatric in these patient at low additional way and thus for have going represent the what quarter continued market seen same X older. prescribers. and To and new the and of had for built the opportunity

Now driven new new impact persistency patients can and with all launch what is new comes we opportunities. these of rates, are listening, patient successful in source launch the and oxybate lower adds. which challenges in of with net adapting, launches more patient a the initiations There learning growth in of potentially by are new phase are now comes quarter-over-quarter rate being dynamics to and And that the with about the patients.

run. fulfillment become we persistence and LUMRYZ goal additional investments providers. clear the additional opportunity amazing drive rates to for investments among with oxybate have are a the to people and The product the making We are will that over long believe we preferred demand, improve narcolepsy with maximize

on the turn will I Tom? our Now over results. to update for Tom financial an call

Thomas McHugh

you, Thank Richard.

XX. be start XX, was onetime that and further weeks cost profit net June results, full for estimate estimated million adjustment XX-Q. non-GAAP also of press true-up XXXX website quarter With I in with gross are on of same by $XX September royalty this at release includes the margin Adjustment we our I profit, channel approximately approximately LUMRYZ the of results. the Before ongoing can of impacted noncash found line the XX related financial Jazz, gross as that quarter as a our million, morning available number litigation gross begin, the reviewing February patent to ended inventory potential sales with in XX. investors.avadel.com. I'll issued which June an be top on note X.X%. which a will reported revenue the September September In we sold Relations was and please results of period ended for the the Investor the of through I'll goods respect $XX.X XXXX financial in at note and reported to

potential potential ongoing no gross that expect a XX% near-term greater margin While of going and this disposition royalty we will await any and than royalty. impact that matter we an related forward cash, final be a has estimate appeals, including on of

of noted $XX.X includes payment items, operating as respect year. approximately operating visit GAAP Richard we third $XXX,XXX. Turning cash reported million million. And as the shy to with gross $X million, the quarter, of expenses commitment during $X.X the balance not to the an million. profit securities to shipping and includes will may XX. at and the adjusted second entering million was operating included as we respect provider for we days. QX under financing expect comprised of calculated to range which adjusting of the million, investments of cadence After which cash million and we The of option $XX expenses cash their that million into million. With to on to of million expenses expect $X.X a potential fewer be positive With to agreement seasonal royalty $XX.X cash expenses, just be marketable fee which compensation additional typical holiday were look $XX.X $X.X and million operating $X operating draw operating royalty fourth expenses. ahead in and will of million After for a operating use of of achieving EBITDA, the for impacts, season, had beginning adjusting basis loss support include of cash September We charges million noncash most we and were net operating range patients expenses that the the primarily patient provider equivalents in not these of as $X a million quarterly noncash $XX in due XXXX. exercising for during $XX given gross amortization deductibles and the impact which the depreciation the to expenses and $XX channel Furthermore, new in December increased the deductions, sheet, the $X compared will entered operating to tranche breakeven, the reset of co-pay XX, higher earlier, we for recurring expect at stock-based quarter of XX of noncash GAAP and that quarter inventory insurance plans $XX.X June systems cash, we million, the to net the of

Finally, assumptions, the during based that cash we on quarter. fourth expect our flow plans be and positive current will

Our a operating with net financial fourth number to on on call in are the pricing the including Greg a at back and expenses regarding factors, remarks. results LUMRYZ, patients quarter moments number closing mentioned I factors LUMRYZ, of expectations the turn few cash for of reimbursed seasonality ago. And a that, I'll based

Gregory Divis

quarter number number has a across of a marked by areas. achievements Thank a QX key you, Tom. progress been consistent of and

and Phase base, LUMRYZ patient favorable and we our As care eligible expanded patients this launch for the of launch, narcolepsy IH LUMRYZ decision to trial into pediatric a from next execute be population build all behind the a approval, strategically court stakeholders. fulfilling target the our on have DC built our our required and we we treatment progress to transforming substantial for the court. initiated with With we LUMRYZ us III and the of promise patient transition important we've our the secured continue foundation to on way believe and phase

it your thank will questions, we operator. progress. I'll future you support, for the for we open call the to With to that, always, look forward and updates As our on and providing we back turn

Operator

Tsai take question our with from [Operator Jefferies. Andrew first we'll And Instructions]

Lin Tsai

oxybate the around talk Can the confidence you're the patient of well higher October gaining to about potential And seeing just prepared far, will your think, trajectory still your despite, QX and deductions? And as including from gross not switches, the continue as in oxybate you month users former so share trends existing some and group? parts strong of November? naive remarks confident net you a seasonality growth are I you

Richard Kim

thus Yes, mean, we question. to as continue this the for in see for quarter Thanks Andrew. demand strong far, I LUMRYZ well.

on just But things shorter is LUMRYZ demand I it's quarter for office think comment selling Tom like strong remains as and still. had and that. far a very interest the what days in visits as

patients, And absolutely, as core to as far sourcing switch a business of of business we part forward. continue as that from our see sort going

continue very for now of business patients some a value with launch. have twice-nightly new there trends But will important right the part our we because to the We are very dynamic just switch seen from remain the where is in the of compelling. a to oxybate going forward proposition

Operator

from take We'll next with Brisebois our Oppenheimer. question François

FranÃ§ois Brisebois

thing of stage most to the adapt that important work new one, us to So in to Is insurance? and much to help new you the a through Can you to with hierarchy the help forward, grow understand here just this this of us how the going to you're this of new kind reality? the the just sales launch? oxybate, just or first AGs understand a can maybe in just terms works of there force going what's with deal step terms how on of in

Gregory Divis

Frank. Thanks, Yes.

to I AGs think role question oxybate invest your we continue expand then progress. to in is the to first to as of our continues new how launch around it centered are and and going relative to

Richard? So

Richard Kim

the beginning to through, best oxybate with and as from our right the concerned plan payers far new get to as of as any step access AGs was signed, As the were or the oxybate. the far security

a coverage. XX% -- has commercial excellent team that have We job with really the done with

for an now. that us step is for it's AG So LUMRYZ very rare a right

is add to written prescribers. volume continue highest of that. us. And is oxybate now concerned, very say, we have back of care to for as robust done through sort oxybate third the far uptake time I'll more sales users. oxybate to moderate goal maybe first grow to and new to see the And low quarter, really who our and step the is with job a with when we we've It's the feel as the launched, to like patients pathway we really force those good XX% So get clearly with

XX% stated for our those who have oxybate adding getting now over written frequency we're have of written mix into and reach force also, field to as LUMRYZ, in our prepared about before little a right So increase to we we're people remarks, our those And the oxybate. to never of who launch XXX providers. now

also increase would as we well. group So mix targeting slight be LUMRYZ to a of new of register those our

Gregory Divis

is in patients value switch well. highest were that these comment Yes. I efforts exist moderate focus only that prescribers, the there compromising on as low add And those also would I targets, without the our across and to practices think

So source prescribers, terms change of and for to right? new I is current -- oxybate in switch doesn't or discontinued patients, us treated patient particular, of previously think in the in oxybate

think before is I look and provide decision didn't physicians, want a oxybate that physicians with upon some write coverage used have LUMRYZ, an adding never have we're lot to some and where the to who issues have people additional in who based predominantly to those treat for like they patients. dosing made to their physicians do those the that

FranÃ§ois Brisebois

a know litigation And I and Okay. revenues -- consensus not sales. you any lot front. maybe call, the how Tom, lastly, I the $XXX looked developments I talked of million you're the like for tracking for on giving had it the on maybe the you're think the the sell I And guess year, comments been but side? sell in revenues. Great. on think And side last about then guidance, was then of terms there's

be would helpful? I in an What of still next? is on update maybe what's just litigation terms think there up

Gregory Divis

you start? I'm Frank. Tom, happy Thanks, legal. to to if want handle

Thomas McHugh

it. the No, Yes, appreciate thanks I question, for sure. Frank.

our first progress across segments. our with in oxybate new QX, continued for persistency assessing. And that through seen with with I segment, LUMRYZ increase patient we're really we full And quarter do X patient date which see consistent have the demand we're to all said, to of the an process in set the to expect to respect launch. pleased and in patient we expectations that has think

So for in frankly looks mentioned we're growth seasonality during It as some I as the factors quite new QX we're QX, to well evaluating expectations segment. into looking oxybate and as call. our the

Gregory Divis

a And of I'll legal, are from maybe relates kind tick where kind to it of Frank, things as just perspective. legal through

noted, as which we're First, perspective. we from have court obviously, with we all along that stated with decision, what DC aligns pleased the

On Delaware which there's legal matters, the other are really, really related, X.

patent The one have ongoing steps whole which anticipated as those are next to process motions as Neither a and yet. is royalty the first regarding that the scheduled trial, well in for and hearing briefing that ongoing rate. of the future include case post-trial been

a next is that week is with is February XXXX briefing to be right? There's equally the injunction, not that appeal the set. arguments for but scheduled So then currently And important at pending, which occur of Circuit. action progressing. the this date docket, against oral under complete across is Federal accordance IH And during matter, that's And to -- Jazz, time. for our needs what to as yet antitrust period in and scheduled lastly,

next based And jury a I'll scheduled had, really that it's the that this LUMRYZ is and delayed currently X wrongfully that believe what the of be impact during year. wrongfully review is just we listed [ the trial ] process beginning is about to November remind everybody the pattern and -- with upon NDA

we on the matter. where So sit legal that's

FranÃ§ois Brisebois

the -- Can through that IH? Sorry, guys just clinical -- appeal if we of with superiority. in win terms you read Or that? have it not of are Court recent here, the is jump I to Columbia we District your in that discussing with

Gregory Divis

decision. that. what than us twice the I how Court on of and don't the Other the comment think pleased granted has and to decision DC now the it's the that, FDA affirm exclusivity an orphan -- came FDA specifics we're has Yes. to that appropriate that court that --

Operator

with next Wainwright. We'll Oren from question take H.C. Livnat our

Oren Livnat

but the patient obviously, new more. your ahead since into is digging running our So are we're something expectations, starts discontinuation actually of

tolerability discontinuing actually more? and why So offer about for the job versus tolerability challenging? And believe, new of more really of with I is you about patients for an it and any titration. you difference there? sort is new any ongoing I you just term needed think and long-time just there I a -- hand? talked new can differentiation these that I support is hold is about have every you up patients on more Is are well? of basis, patient as doing to important that do it and mean on education new you dose expectation services And guess, issues talk early in from really RYZUP patient Do the users is always front twice-nightly? that better setting Or their Or asked just long someone reauthorization reimbursement about patients. source see a follow-up. And a about being

Richard Kim

think they have way come Yes, would away in we quickly. oxybate expect, know don't can oxybate, as to who of optimal frame they very higher I biggest overall. Consider work as lot their far to this find the right? these one need patients, discontinuation patients, the rates, from that sort agents to they from a never taking And is been of dose what new premiums really just on

many not. information we thought with physicians also lot expectations, research, do but a lot patients. do of actually And for market A generally set of shared there's also,

Not may navigators them support take that issues. in patients expect. RYZUP that the at really role change she player dose, and for what So helping may nurse and really only really knowing know managing experience, several efficacy extend and more and to in more your to weeks as its for some your helping essential tolerability expectations you kick

it others, from made patients impact. critical there. not why really as investments well. the from for they also those we've are time longer as But board insurance the we do their clearly, patients much the for term but so of relationships these nurse beginning, across at not to the reauthorizations when really patients, only have the building for that there navigators patients So mix with may holistically to in and the time And change see patients, for to comes That's time these it's come and can to an the who maybe time. reimbursement some

So impact. support think establishing expectations new an and only have to it's beginning, payer at patients, for much through But them providing reimbursement well. their the mix frequent and for being journey the as more about there overall, I oxybate of whole can but really not treatment the

Gregory Divis

Yes.

think switch only of gone would add, and kind to we've gotten that comment, surgical has we've the Richard's how we've is gotten right? business in LUMRYZ is through it the of them new much Oren, with as with helping -- I patient. engage different and and you're thing in early changed, I to Because how types, or with happens oxybate a we launch on source get is and patient manage our had to more what their different smarter, we've patient persistency the precise experience

doesn't in all the fits work totality. really size So kind one of

patients more we've sophisticated them And our that their much that and regard. periods result required caseload more to time. allows gotten that, reduce to with we've time nurses a So expanded through of help in of navigate as as these spend them

to that date the and better have actions we therapy, discontinuation a taking to to want historical again, data want on relative because better have that to impact demonstrated has although the really standard. to do trends. the twice-nightly and think we hard work And patient them right think it. I we right insights, we it's help It's ability of not than stay all -- to right get -- have our on. We just rates the So the we

Oren Livnat

free been and maybe terms going material Or any XXXX coverage coverage much value is overall, Yes. and bridging bake formulary And there in competition? forward? be tailwind us does item? relative an of going? now Or in a net material guess, And you patient that sort XXXX, general, supply? regarding reimbursement how both stand-alone can in going or that and just into changes Medicare there in you beyond? changes line just stand any versus per are And a on, I should remind where of already positioning of drug annualized separate And have

Gregory Divis

second? the take part? Tom, first Richard, want, You

Richard Kim

with lives have 'XX we a we Yes, holistically. tip to to want overall. Sure. coverage XXXX, we totally, we ending go with that coverage should And range very to XXXX believe across hand -- expect that concerned. the we're payers in some our will more the Medicare into very strong but have 'XX, we And in the super as as coverage we We as position continue is pleased up so pick our strong the be board. overall of far don't

Thomas McHugh

calculate per per net with And is patient, on kind around free -- value patients drug. it on patients of $XXX,XXX patient, year numbers said, average per patient, revenue we switch annualized quarter-to-quarter, but report numbers of net sticking the terms about fluctuate on the in $XXX,XXX including can Oren, patient free But the right you out per an basis. reporting It in could for a that and little bit which drug.

Operator

take next Needham. with from We'll our Fadia question Ami

Ami Fadia

or that from has the around they're evolved whether growth sodium, percent the of dynamics efforts talk switch the low completely highest can rate more coming you market oxybate since you investing as in patients of of Xyrem start how launch us or can detailing the LUMRYZ? sodium think you of new about about the of talk just give seeing about AG the And overall And here, behind oxybate. the terms you what the terms color some patients was new are Can patients. coming you're from switch patients, in currently,

Gregory Divis

Thanks, couple turn I'll to and Richard. take a it Ami. of Maybe over comments

the patients were us friends In coming through continue starts Again, terms in of mix. to oxybate, of at closing the portion in the funnel the portion say, switch oxybate would mix portion of the patients new percent patient top that we're I -- we in in the patients the new terms to to of that would see patients gap growing the seeing think QX QX. the of of with patient of on largest switch a our -- larger an tell our coming in, I a increase representing

the In it and maybe terms switch, narclepsy. over dynamics of to from I'll the turn Richard of the

Richard Kim

Yes.

the market majority far to some patients As as patients oxybate, we and marketplace switch this visibility false coming growing. sodium oxybate twice-nightly of from concerned, still indicators as the overall the continue of the continue. the that far are now. growth don't that trend here But clear have -- And point far the expect we see as to the at we mix is narclepsy could as overall data as see in is

around those prescribers, of oxybate First, who we to the have now. twice-nightly new never a XXX have oxybate written for

last HCPs on. for that reach the We growth are twice-nightly treated that And providers. we we of previously those moderate twice-nightly patients, been in we plan there's call is part have on are us patients the more as almost in increasing had to and of oxybate of oxybate. segment the users, previously XX% or seeing That's proof that have have LUMRYZ effort well. either written discontinued with LUMRYZ very including have And our coming efforts our on don't point also of oxybate maybe who have the minimal for the for with a lower of wouldn't who

with beyond, upon been build oxybate. foundation grow this So opportunities where continue our to has the we and market twice-nightly definitely see to continue to it

Gregory Divis

minimal just I that's And stated and point would our different we Yes, very launch, prescribers previously into prescribers, maybe not, oxybate was, have added little no oxybate coming bit more. a what doubt since writing and right? comment never I the wrote it's who are only add, from both that Richard there's oxybate who written and the patients have were pool think a putting of on

point, believe regard the in of LUMRYZ. So have by to feel is kind happened on and and pool. adding that with to eligible LUMRYZ Xyrem But to in confident want we what's we the don't nature into visibility Richard's we great volumes. those But expand patients AG new are on oxybate that, who we'll their continue of go terms of

Operator

question We'll Sandler. from take David with our Amsellem last Piper

David Amsellem

So a me. couple for

is there? we're this the you like oxybate know, NTX earlier, mentioned can that then and for the you're between longer don't through seeing now looks what I LUMRYZ First, NTX go is term, mix it market but what and And secondly, looking seeing if expanding. you

Your patients well. competitor as in setting the narcolepsy continues to grow

term, now? think if I ] the the and years [ oxybate when, into and as market once question from are come and Takeda agonist others about the you how ARX guess orexin So about you several the thinking is, with footprint longer

Gregory Divis

Richard, Thanks. to you those? want take do

Richard Kim

Yes. for NTX as in is oxybate far see NTX, as XX% LUMRYZ, NTX, we used XX% about NTX. has XX% it mix of what the use about see we what David, NTX, XX%, from consistent And in and with NTX. been was prevalence about which

So would you. we with agree

we sort definitely As that of oxybate we narcolepsy in from growing. very solid question, the see is the earlier signs market just --

the as more And as concerned, their learn directors are far profile. overall clearly, have to we about

LUMRYZ during issues feature clearly, patients, who with an is may of thought have I potential sort oxybate they leaders we potentially orexin growing used our marketplace, But wake-promoting think potential on we along away the providers address combination the time as on is well and speak able well. important. But And used. nice that agents are need room with it say how oxybate. there's and dose as sleep, in an a important feedback for to will middle is an that line to there would to sort the a those have probably orexin as an room our a general really along for having view challenges of is those an their with to to be bed be taking the insomnia lot impact see be of with

Gregory Divis

to you add anything that? to Jen, want

Jennifer Gudeman

to. One comment [Technical to our unique happy Sure, Difficulty]. first, what's

Operator

cut And Instructions]. mind [Operator sorry, I'm you your you statements, please? Would restating out. Jen, did

Gregory Divis

We again, issue called apologize. morning back directly. good lost technical everyone. so in, to So get a had now had and connection, kicking We

David's we just up and maybe where with we'll finished Jen to responding standpoint. comment just wrap that last So from

Jennifer Gudeman

Sure.

Sorry, again about the technical difficulties.

the going per important where of In a based regard oxybate X orexin that what specifically company options narcolepsy. said, is data that subgroups. X certainly has Richard on the for upon comments a couple are type add really the both patients pleased to mix, and only published the certainly type to oxybate So agonist, are historically, always more reserved narcolepsy that recognize larger been yet is better. more narcolepsy we're have type And in to This demonstrating of what NTX, NTX efficacy we is Richard we're to said. has consistent

is We the far monitor front symptoms. what in on out of is course, continue And the NTX agonist to also is as the the orexin progress. And as focus daytime the only. with focus

at of data published impact specifically on have disrupted nighttime we the looking So symptoms LUMRYZ on the fleet. nighttime

to both And avoid emphasize the to speak it. It's so of the the middle LUMRYZ night in KOLs as of to dose. Richard specifically continue had to a future and mentioned, we using leading matter

Gregory Divis

again, for technically. Thanks, disruption apologize And Jen. Thanks, I David. the

Operator

turn back Thank program will management concluded. any you. closing is the now now or session for The remarks. to over additional question-and-answer I

Gregory Divis

for a throughout days. of operator. thank and rest to for third XXXX our next today Have you, you, day, of and Thanks. time few we Thank the up catching the quarter earnings And great forward you your look your joining everyone, us again, with course call.

Operator

for you today's concludes your That teleconference. Thank participation.

now disconnect. may You

Avadel Pharmaceuticals (AVDL) 12 Nov 242024 Q3 Earnings call transcript