Avadel Pharmaceuticals Announces Appointment of Brandi Robinson as Senior Vice President, Corporate Affairs

Rhea-AI Summary

Avadel Pharmaceuticals (Nasdaq: AVDL) announced the appointment of Brandi Robinson as Senior Vice President of Corporate Affairs, aimed at strengthening its operational and commercial infrastructure. Robinson, with over 25 years of experience in the biopharmaceutical industry, will support the upcoming launch of FT218, designed to treat narcolepsy symptoms. The transition includes a grant of 215,000 stock options at an exercise price of $7.22 per share, aligning her interests with the company's goals.

Positive

• Appointment of experienced Brandi Robinson expected to enhance corporate affairs.
• Focus on advancing FT218 for narcolepsy could positively impact product pipeline.

Negative

• Concerns about possible experience gaps in senior management continuity.

DUBLIN, Ireland, March 14, 2022 (GLOBE NEWSWIRE) -- Avadel Pharmaceuticals plc (Nasdaq: AVDL), a company focused on transforming medicines to transform lives, today announced the appointment of Brandi Robinson to the newly created position of Senior Vice President, Corporate Affairs.

“We are pleased to welcome Brandi to the Avadel team as our Senior Vice President, Corporate Affairs as we continue to advance once-at-bedtime FT218 for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy,” said Greg Divis, Chief Executive Officer of Avadel. “Brandi brings a wealth of corporate affairs experience in the biopharmaceutical industry, which will support the company as we expand. We look forward to working alongside Brandi as we continue to strengthen our operational and commercial infrastructure to support our important mission of transforming lives with much-needed therapeutics.”

“It’s an exciting time to join Avadel, as the Company continues to build operational capabilities for the potential launch of FT218,” said Brandi Robinson. “People living with narcolepsy deserve relief from not only the debilitating symptoms of narcolepsy, but also from the burden of waking up in the middle of the night to take a second dose of their medication. I look forward to joining this strong team as we advance preparations to bring FT218 to patients.”

Brandi Robinson is an accomplished communications executive that brings more than 25 years of experience in the pharmaceuticals, medical device and consumer health industries specializing in strategic communications, media relations, issues management, patient education campaigns, corporate reputation, and product and internal communications. She most recently served as Chief Corporate Affairs Officer for Rafael Holdings, Inc., a company focused on the development of novel cancer and immune metabolism therapeutics. At Rafael Holdings, Brandi led the communications, corporate affairs and patient advocacy functions, and served as a member of the Executive Committee. Prior to Rafael Holdings, she was Chief Communications Officer at Mallinckrodt plc, and before that, Brandi led communications for Seattle Genetics, Sanofi U.S. and Novartis. Earlier in her career, Brandi held numerous healthcare public relations roles. She earned a B.A. in Communication, Journalism and Related Programs from Fairleigh Dickinson University.

In connection with the hiring of Brandi Robinson, the Compensation Committee of the Board of Directors approved the grant of non-statutory options to purchase an aggregate of 215,000 ordinary shares under Avadel’s 2021 Inducement Plan. The award was granted as an inducement material to Ms. Robinson’s acceptance of employment with Avadel in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $7.22 per share, which is equal to the closing price of Avadel’s American Depositary Shares as reported by Nasdaq on March 11, 2022. The options have a ten year term and vest over four years, with 25% vesting on the one-year anniversary of Ms. Robinson’s first day of employment with Avadel and the remainder vesting in equal annual installments of 25% for the three years thereafter, subject to her continued service with Avadel on each such vesting date. The options are subject to the terms and conditions of Avadel’s 2021 Inducement Plan and the terms and conditions of the award agreement covering the grant.

About Avadel Pharmaceuticals plc

Avadel Pharmaceuticals plc (Nasdaq: AVDL) is a biopharmaceutical company focused on transforming medicines to transform lives. Our approach includes applying innovative solutions to the development of medications that address the challenges patients face with current treatment options. Our current lead drug candidate, FT218, is an investigational formulation of sodium oxybate leveraging our proprietary drug delivery technology and designed to be taken once at bedtime for the treatment of excessive daytime sleepiness and cataplexy in adults with narcolepsy. For more information, please visit www.avadel.com.

Cautionary Disclosure Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements relate to the Company’s future expectations, beliefs, plans, strategies, objectives, results, conditions, financial performance, prospects, or other events. Such forward-looking statements include, but are not limited to, the Company’s expectations regarding the therapeutic benefits of FT218, the preparations for a potential commercial launch of FT218 and the anticipated contributions of new members of the management team to the Company’s operations and progress. In some cases, forward-looking statements can be identified by the use of words such as “will,” “may,” “could,” “believe,” “expect,” “look forward,” “on track,” “guidance,” “anticipate,” “estimate,” “project,” “next steps” and similar expressions, and the negatives thereof (if applicable).

The Company’s forward-looking statements are based on estimates and assumptions that are made within the bounds of our knowledge of our business and operations and that we consider reasonable. However, the Company’s business and operations are subject to significant risks, and, as a result, there can be no assurance that actual results and the results of the company’s business and operations will not differ materially from the results contemplated in such forward-looking statements. Factors that could cause actual results to differ from expectations in the Company’s forward-looking statements include the risks and uncertainties described in the “Risk Factors” section of Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission (SEC) on March 9, 2021 and subsequent SEC filings.

Forward-looking statements speak only as of the date they are made and are not guarantees of future performance. Accordingly, you should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to publicly update or revise our forward-looking statements, except as required by law.

Investor Contact:
Courtney Turiano
Stern Investor Relations, Inc.
Courtney.Turiano@sternir.com
(212) 698-8687

Media Contact:
Nicole Raisch Goelz
Real Chemistry
ngoelz@realchemistry.com
(408) 568-4292

FAQ

What is the significance of Brandi Robinson's appointment at Avadel Pharmaceuticals?

Brandi Robinson's appointment as Senior Vice President of Corporate Affairs is significant as she brings over 25 years of biopharmaceutical experience, which is expected to strengthen Avadel's operational and commercial strategies, particularly in preparation for the launch of FT218.

How does the appointment of Brandi Robinson impact Avadel's stock?

The addition of Brandi Robinson could positively impact Avadel's stock by enhancing management capabilities and supporting the launch of FT218, thereby potentially increasing investor confidence.

What are the details regarding the stock options granted to Brandi Robinson?

Brandi Robinson was granted 215,000 stock options at an exercise price of $7.22 per share, vesting over four years, as part of her inducement to join Avadel, aligning her with the company's financial goals.

What is FT218 and its relevance to Avadel?

FT218 is an investigational formulation of sodium oxybate aimed at treating excessive daytime sleepiness and cataplexy in adults with narcolepsy, representing a key product in Avadel's pipeline.