Avadel Pharmaceuticals (AVDL) 24th Annual Needham Virtual Healthcare Conference summary

Business performance and growth

• LUMRYZ reached 2,500 patients by year-end, nearly triple the nearest competitor in the same period.

• Patient demand and retention improved in early 2025, with key metrics tracking ahead of Q4 and internal expectations.

• Expanded sales force and patient support investments are driving growth and persistency.

• Sales guidance for 2025 is $240M–$260M, with 800 net patient adds at the low end and up to 1,050 at the high end.

• EBITDA positive in Q3 and Q4 2024; cash flow positive guidance of $20M–$40M for 2025.

Commercial strategy and market dynamics

• Focus shifted from early adopters to broader prescriber base, expanding reach to over 5,000 physicians.

• Enhanced field support and reimbursement teams reduced caseloads and improved patient onboarding speed.

• Switch patients have low discontinuation rates and are a key revenue driver; new-to-oxybate patients represent organic growth.

• LUMRYZ sources patients from Xyrem, Xywav, generics, and new prescribers, with 15% of starts from physicians new to oxybates.

Supply chain, IP, and external risks

• LUMRYZ supply chain is largely U.S.-based, with redundancy and flexibility to manufacture entirely domestically if needed.

• IP is based in Ireland, but no manufacturing occurs there.

• Recent tariff announcements do not impact LUMRYZ.