Shareholders' Equity

9 Months Ended

Sep. 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 nine months ended September 30, 2018: 

Shareholders’ Equity:	2018
Shareholders’ equity - January 1,	$	85,580
Net loss	(31,445		)
Other comprehensive loss	(385		)
Exercise of stock options	535
Stock-based compensation expense	7,190
Employee share purchase plan share issuance	127
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 - September 30,	$	65,742

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 nine months ended September 30, 2018, the Company repurchased 3,291 ordinary shares for $27,637. At September 30, 2018, the Company fully completed its authorized share buyback program.