Shareholders' Equity

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity 

The following table presents a reconciliation of the Company’s beginning and ending balances in shareholders’ equity for the six months ended June 30, 2018: 

Shareholders’ Equity:	2018
Shareholders’ equity - January 1,	$	85,580
Net loss	(15,674		)
Other comprehensive income	(393		)
Exercise of stock options	535
Stock-based compensation expense	4,358
Share repurchases	(27,637		)
Exercise of warrants (see Note 8)	2,911
Expiration of warrants (see Note 8)	2,167
Equity component of 2018 Notes (see Note 9)	26,699
Shareholders’ equity - June 30,	$	78,546

Share Repurchases

In February 2018, the Board of Directors approved an authorization to repurchase up to $18,000 of Avadel ordinary shares represented by ADSs in connection with the offering of the 2018 Notes.

In March 2018, the Board of Directors approved an authorization to repurchase up to $7,000 of Avadel ordinary shares represented by ADSs, bringing the total authorization of $50,000 to repurchase shares. Repurchase may be made until December 31, 2018 in open-market transactions on or off the exchange, in privately negotiated transactions, or through other means as determined by the Company’s management and in accordance with the regulations of the SEC

During the three months ended June 30, 2018, the Company repurchased 984 ordinary shares for $7,424. At June 30, 2018, the Company fully completed its authorized share buyback program.