Avadel: FDA OKs narcolepsy treatment

 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.

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