Lit­tle biotech makes deep cuts as it strug­gles to get nar­colep­sy drug ap­proved amid months of reg­u­la­to­ry lim­bo

Be­lea­guered by mul­ti­ple de­lays, Avadel Phar­ma­ceu­ti­cals is pulling out all the stops to try and clinch an FDA ap­proval for its nar­colep­sy drug faster. But be­fore it can get there, it is cut­ting its head­count by half.

The Irish drug de­vel­op­er, which had 66 full-time staffers at the end of last year, re­vealed a “near­ly 50% re­duc­tion in work­force” aimed at “op­ti­miz­ing the cost struc­ture” and slow­ing the cash burn by $12 mil­lion to $14 mil­lion per quar­ter.

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