Avadel Pharmaceuticals plc (NASDAQ:AVDL) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET
Company Participants
Austin Murtagh - Stern Investor Relations
Gregory Divis - Chief Executive Officer
Richard Kim - Chief Commercial Officer
Jennifer Gudeman - Senior Vice President, Medical and Clinical Affairs
Thomas McHugh - Chief Financial Officer
Conference Call Participants
Francois Brisebois - Oppenheimer
Andrew Tsai - Jefferies
Ami Fadia - Needham & Company
Marc Goodman - Leerink
Matthew Kaplan - Ladenburg Thalmann
Chase Knickerbocker - Craig Hallum
Myriam Belghiti - LifeSci Capital
Operator
Greetings, and welcome to Avadel Pharmaceuticals Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.
It is now my pleasure to introduce Austin Murtagh with Stern Investor Relations. Thank you. You may begin.
Austin Murtagh
Good morning, and thank you for joining us on our conference call to discuss second quarter 2023 earnings.
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. These risks include risks regarding the success of commercialization effects for LUMRYZ, expectations regarding the potential market impact, anticipated market availability and sales opportunities of LUMRYZ and the impact of competitive products and pricing.
These and other risks are described more fully in Avadel’s public filings under the Exchange Act included in the Form 10-K for the year ended December 31, 2022, which was filed on March 29, 2023, and any subsequent SEC filings. Except as required by law, Avadel undertakes no obligation to update or revise any forward-looking statements contained in this presentation to reflect new information, future events or otherwise.
On the call today are Greg Divis, Chief Executive Officer; Dr. Jennifer Gudeman, Senior Vice President of Medical and Clinical Affairs; Richard Kim, Chief Commercial Officer; and Tom McHugh, Chief Financial Officer.
At this time, I’ll turn the call over to Greg.
Gregory Divis
Thank you, Austin. Good morning everyone, and thank you for joining us today to review our second quarter 2023 results.
2023 continues to be a transformational year for Avadel, which is only accelerated with the significant progress our team has delivered in the second quarter alone. And this all starts with our transition to a commercial stage organization and the launch of LUMRYZ, our once-at-bedtime oxybate therapy for the treatment of cataplexy or excessive daytime sleepiness in adults with narcolepsy. Following LUMRYZ's approval in May, along with the concurrent receipt of Orphan Drug Exclusivity, we swiftly executed our launch strategy, and since launch in June, have seen impressive interest and initial uptake from physicians and a broad mix of patients. We recorded our first sales for LUMRYZ in June, and based on our initial launch progress, we are trending well against our expectations at this very early stage in the launch. With clear and unwavering focus, we are honored to be able to bring forward our transformational once-at-bedtime therapy, the narcolepsy community has long been waiting for.