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Adverum Biotechnologies Inc - ADVM STOCK NEWS

Welcome to our dedicated news page for Adverum Biotechnologies (Ticker: ADVM), a resource for investors and traders seeking the latest updates and insights on Adverum Biotechnologies.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Adverum Biotechnologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Adverum Biotechnologies's position in the market.

Rhea-AI Summary
Adverum Biotechnologies, Inc. (ADVM) to present at Oppenheimer Healthcare Life Sciences Conference. Laurent Fischer, M.D., to discuss gene therapy for ocular diseases. Webcast available on company website.
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End-of-Day
15.03%
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conferences
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Rhea-AI Summary
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced preliminary safety and efficacy data from the ongoing LUNA Phase 2 trial in patients with wet age-related macular degeneration (AMD). Both dose levels (2E11 & 6E10) demonstrate potential best-in-class clinical activity, with preliminary safety data supporting a favorable benefit-risk profile at both dose levels. The vast majority of patients on the “go-forward” regimen had no inflammation and >90% of patients have no or minimal inflammation. Preliminary efficacy and safety data trending similar to or better than the OPTIC study, indicating potential for best-in-class efficacy. The company is pleased with the emerging treatment profile, showing potential for best-in-class efficacy and over 90% of subjects having no or minimal inflammation with their go-forward local prophylactic regimen.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-29.89%
Tags
clinical trial
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Rhea-AI Summary
Adverum Biotechnologies, Inc. has agreed to sell approximately 106.25 million shares of its common stock to institutional and accredited healthcare specialist investors in a private placement, at a price per share of $1.20, representing a premium of approximately 20% to Adverum’s 30-day volume-weighted average price. The financing, led by TCGX, is expected to close on February 8, 2024, with gross proceeds of approximately $127.5 million. The company expects the proceeds, combined with current cash, cash equivalents, and marketable securities, to fund the current operating plan into late 2025.
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Rhea-AI Sentiment
End-of-Day
34.51%
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none
Rhea-AI Summary
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced the presentation of preliminary safety and efficacy data from the ongoing LUNA Phase 2 study of Ixo-vec for the treatment of wet AMD at the 47th Annual Meeting of the Macula Society. The webcast will include details of the preliminary results and will be hosted by Adverum on Thursday, February 8th, 2024 at 8:00am ET. The presentation will be available on Adverum's website after the event.
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Rhea-AI Sentiment
End-of-Day
19.33%
Tags
clinical trial
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Rhea-AI Summary
Adverum Biotechnologies, Inc. announced the addition of Romuald Corbau, Ph.D., as its chief scientific officer. Dr. Corbau brings over 25 years of industry experience and will play a crucial role in advancing Ixo-vec, a gene therapy product for wet AMD, towards pivotal trials and commercialization. The company also granted Dr. Corbau a stock option to purchase 600,000 shares of Adverum's common stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
13.83%
Tags
management
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Rhea-AI Summary
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced the initial LUNA preliminary efficacy and safety data will be presented at the upcoming 47th Annual Meeting of the Macula Society, being held February 7 – 10, 2024. The company aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases. The presentation will focus on Ixoberogene soroparvovec (Ixo-vec) Intravitreal Gene Therapy for Neovascular Age-Related Macular Degeneration, with preliminary results from the Phase 2 LUNA Study. The presentation will be delivered by Arshad M. Khanani, M.D., M.A., FASRS, Director of Clinical Research at Sierra Eye Associates, Clinical Associate Professor at University of Nevada, Reno School of Medicine. Adverum Biotechnologies plans to host a conference call to discuss these data, with details to be provided at a future date. The presentation will also be made available on Adverum’s website under News & Publications.
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End-of-Day
-10.89%
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conferences
Rhea-AI Summary
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced participation in the Evercore ISI 6th Annual HealthCONx Conference by its CFO and CDO. The webcast will be available on the company's website.
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End-of-Day
0.12%
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conferences
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Rhea-AI Summary
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) reported positive preliminary aflibercept protein levels from the Phase 2 LUNA trial, indicating therapeutic activity. Long-term OPTIC data showed sustained benefits for patients. Initial LUNA safety and efficacy data expected in Q4 2023. Cash runway projected into 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.97%
Tags
earnings
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Rhea-AI Summary
Adverum Biotechnologies, Inc. appoints Dr. C. David Nicholson as an independent member of its Board of Directors. Dr. Nicholson brings over forty years of pharmaceutical experience and deep experience in ophthalmology. His appointment reflects the company's commitment to excellence in clinical and preclinical development. Adverum's lead product candidate, Ixo-vec, is currently being evaluated in the Phase 2 LUNA trial for wet age-related macular degeneration.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.58%
Tags
management
Rhea-AI Summary
Adverum Biotechnologies announces updated data from the OPTIC extension study of patients with wet AMD, showing long-term benefit from Ixo-vec gene therapy. Key findings include an 84% reduction in annualized anti-VEGF injections and durable aflibercept protein levels up to 4.5 years post-treatment. The treatment continues to be well-tolerated. A summary of previously announced aflibercept protein levels from the LUNA study was also presented.
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Adverum Biotechnologies Inc

Nasdaq:ADVM

ADVM Rankings

ADVM Stock Data

198.01M
36.94M
0.98%
60.7%
1.21%
Biological Product (except Diagnostic) Manufacturing
Manufacturing
Link
US
Redwood City

About ADVM

adverum (nasdaq: advm) is a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases. we are advancing the development of a robust pipeline of gene therapies that includes product candidates designed to treat rare diseases alpha-1 antitrypsin (a1at) deficiency and hereditary angioedema (hae) as well as wet age-related macular degeneration (wamd). leveraging our next-generation adeno-associated virus (aav)-based directed evolution platform, we generate gene therapies designed to provide durable efficacy by inducing sustained expression of a therapeutic protein.