Avadel Pharmaceuticals plc (NASDAQ:AVDL) Q4 2022 Earnings Call Transcript

And those are folks who will be able to go directly into the offices as the specialists and really help support the staff that focuses on reimbursement, both in a live aspect there and then that the patient support center will help both office and also guide the actual individual patients themselves as well. So we’ve really invested a lot of time and energy because first we believe that the LUMRYZ value proposition will generate a lot of excitement with prescribers and patients, but we’ve got to make sure that we’ve had, and we’ve spent the time to build the resources to make sure that we can get the fulfillment taken care of as well.

Matt Kaplan: Okay. That’s very helpful, thanks Richard. And then a question for Tom in terms of the royalty interest financing with RTW term there; can you help us understand in terms of the amount you’ll have to pay back to RTW if you pull down the full amount? Or if you don’t €“ if you only pull down the first tranche, it’s, yes, is it 2.5 times the funding or how does that work?

Tom McHugh: No. Thanks Matt. Listen, I think one of the great things about the royalty financing is the flexibility we have on the second tranche where it’s really at our option to draw it or not. So if you’re focus on the first tranche it’s in our 8-K filing, there’s a lot of details out there, but the hard cap is 2.5x.

Matt Kaplan: Okay. That’s helpful. Thanks Tom.

Tom McHugh: Thanks Matt.

Operator: That concludes today’s question-and-answer session. I’d like to turn the call back to Greg Divis for closing remarks.

Greg Divis: Thank you. And thank you everyone. Thank you for your time in joining us today on our fourth quarter and full year 2022 earnings call. We appreciate your spending the morning with us and wish you a great rest of your day. Thanks.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.