By Connor Hart

Avadel Pharmaceuticals reported revenue targets for its narcolepsy treatment Lumryz that missed analyst estimates. The company said it expects net product revenue to be $240 million to $260 million in 2025. Analysts polled by FactSet had been expecting $294.5 million from Lumryz sales alone. Avadel said it expects Lumryz to generate about $50 million in revenue for the fourth quarter, missing current analyst forecasts by $3.7 million, and $169 million for the full year, $1.7 million shy of current estimates, according to FactSet. Shares tumble 22%, to $8.27, in after-hours trading.

Siyata Mobile postponed a press conference originally scheduled for Thursday, citing its focus on an immediate business opportunity. The cellular-communications firm said it would reschedule the press conference for later this month and that it would provide a new date shortly. "We believe the steps we are taking will significantly strengthen our company's future and I urge shareholders to stay engaged, as we anticipate sharing transformative updates throughout January," Chief Executive Marc Seelenfreund said. Shares decline 17%, to $7.22, in post-market trading.

Liberty Media, which owns the global motorsport juggernaut Formula One and has a stake in ticketing-and-events company Live Nation, among other holdings, has tapped Derek Chang as its chief executive, effective Feb. 1, The Wall Street Journal reported. In the role, 56-year-old Chang plans to continue Liberty's focus on its existing businesses while looking for ways to grow Formula One and MotoGP motorcycle racing.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 08, 2025 18:28 ET (23:28 GMT)

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