Avadel Pharmaceuticals plc plans to reduce its headcount in France by about 50 people.
The company said the reduction will help align the its cost structure with ongoing and planned projects, but will not affect allocation of resources to its REST-ON phase 3 clinical trial or other important pipeline initiatives.
Avadel expects the reduction, which is subject to regulatory requirements, to be substantially completed by end of July. The company expects to incur severance, benefits and other costs of about $2.5 million to $4 million, and anticipates annual cost savings of about $3.5 million to $4.0 million once the plan is implemented.
The REST-ON trial is meant to assess the efficacy and safety of a once-nightly formulation of sodium oxybate for extended-release oral suspension to treat excessive daytime sleepiness and cataplexy in patients suffering from narcolepsy.