Can This Small-Cap Biotech Win a $1 Billion Market Opportunity for Narcolepsy?

Jazz Pharmaceuticals (NASDAQ: JAZZ) has witnessed stellar growth of Xyrem for the treatment of narcolepsy since its launch. Sales of the product have amounted to over $1 billion and are increasing rapidly. The momentum, however, relies solely on the drug's market exclusivity, which may be coming to an end sooner than shareholders think. 

Recently, Avadel Pharmaceuticals (NASDAQ: AVDL) has developed a branded formulation of Xyrem's active pharmaceutical ingredient (API) to combat narcolepsy, with a small twist. Does clinical data, released Monday, point to support for FT218 as a potential replacement for Xyrem? Let's find out together.

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Source Fool.com