🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Avadel Pharmaceuticals sees shares drop after CCO resignation

Published 12/03/2024, 11:16 PM
© Reuters.
AVDL
-

Shares of Avadel Pharmaceuticals (NASDAQ:AVDL) experienced a significant drop, plunging as much as 19% to reach their lowest point since April 2023. This downturn occurred following the announcement that the company's Chief Commercial Officer, Richard Kim, will be resigning from his position effective December 31.

Despite his departure, Kim will remain eligible for the incentive compensation planned for 2024, according to a company statement.

Avadel Pharmaceuticals is known for marketing Lumryz, a drug based on oxybate designed for the treatment of narcolepsy. The company has recently received approval to extend the use of Lumryz to pediatric patients.

Kim's resignation comes at a critical time for Avadel as it navigates the expansion of its market reach with this recent approval.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.