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May 26, 2022, 9:09 a.m. EDT

Avadel's stock falls 21% after disclosing new FDA request for experimental narcolepsy drug

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By Jaimy Lee

Shares of Avadel Pharmaceuticals PLC /zigman2/quotes/208124338/composite AVDL +5.33% tumbled 21.6% in premarket trading on Thursday after the company said in a securities filing that the Food and Drug Administration requested additional information for its experimental narcolepsy drug. Avadel said it now expects to get a FDA decision on the drug, FT218, by June of next year. The company's stock is down 58.1% this year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.06% has declined 16.5%.

/zigman2/quotes/208124338/composite
US : U.S.: Nasdaq
$ 2.57
+0.13 +5.33%
Volume: 522,122
July 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$152.97 million
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,825.33
+39.95 +1.06%
Volume: 2.20B
July 1, 2022 5:45p
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