By Sabela Ojea

Avadel Pharmaceuticals PLC said Monday that its Lumryz narcolepsy treatment received final approval from the U.S. Food and Drug Administration to address excessive day-time sleepiness.

Shares rose 14% to $12.04 at 13:31 E.T.

The pharmaceutical company said Lumryz is a single dose at bedtime that treats narcolepsy in adults, a chronic neurological condition that effects about one in 2,000 people in the U.S.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

May 01, 2023 13:55 ET (17:55 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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