Adverum Biotechnologies Announces Completion of Screening for Pivotal Phase 3 ARTEMIS Trial of Ixo-vec for Wet Age-Related Macular Degeneration
Rhea-AI Summary
Adverum Biotechnologies (NASDAQ:ADVM) announced accelerated progress in its pivotal Phase 3 ARTEMIS trial for Ixo-vec, a potential one-time gene therapy treatment for wet age-related macular degeneration (wet AMD). The company will complete patient screening by September 30, 2025, ahead of schedule.
The trial is expected to achieve full enrollment of at least 284 patients in Q4 2025, earlier than the previous target of Q1 2026. This acceleration has moved the topline data readout forward to Q1 2027. ARTEMIS is comparing a single administration of Ixo-vec (6E10 vg/eye) to aflibercept (2mg) given every 8 weeks in both treatment-naïve and previously treated patients.
Positive
- None.
Negative
- Phase 3 results still pending with no efficacy data available yet
- Competition from established wet AMD treatments like aflibercept continues
News Market Reaction – ADVM
On the day this news was published, ADVM declined 7.98%, reflecting a notable negative market reaction. Argus tracked a peak move of +29.8% during that session. Argus tracked a trough of -17.9% from its starting point during tracking. Our momentum scanner triggered 40 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $9M from the company's valuation, bringing the market cap to $108M at that time. Trading volume was exceptionally heavy at 20.1x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
- Screening closing ahead of expectations, with full enrollment now anticipated in 4Q 2025 (previously 1Q 2026)
- ARTEMIS topline data readout accelerated to 1Q 2027
REDWOOD CITY, Calif., Sept. 22, 2025 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage company pioneering the use of intravitreal gene therapy as a potential One And DoneTM treatment to preserve sight for life, today announced it has notified sites that it plans to complete screening in ARTEMIS, its first pivotal Phase 3 trial evaluating Ixo-vec in wet age-related macular degeneration (wet AMD) by September 30, seven months after initiation, because the company now expects full enrollment of at least 284 treatment-naïve and treatment experienced patients in 4Q 2025 and data readout in 1Q 2027.
ARTEMIS is the first of two Phase 3 registrational trials for Ixo-vec in wet AMD, evaluating a single administration of Ixo-vec (6E10 vg/eye) compared to aflibercept (2mg) every 8 weeks in both treatment-naïve and previously treated patients. Information about the trial is available at www.clinicaltrials.gov (ARTEMIS identifier: NCT06856577).
About Ixo-vec in Wet AMD
Adverum is developing ixoberogene soroparvovec (Ixo-vec, formerly referred to as ADVM-022), its clinical-stage gene therapy product candidate, for the treatment of wet AMD. Ixo-vec utilizes a proprietary vector capsid, AAV.7m8, carrying an aflibercept coding sequence under the control of a proprietary expression cassette. Unlike other ophthalmic gene therapies that require surgery to administer the gene therapy under the retina (sub-retinal approach), Ixo-vec is designed to be administered as a one-time IVT injection in the physician’s office, deliver long-term efficacy, reduce the burden of frequent anti-VEGF, optimize patient compliance and improve vision outcomes for patients with wet AMD. In recognition of the need for new treatment options for wet AMD, FDA granted Fast Track and Regenerative Medicine Advanced Therapy (RMAT) designations for Ixo-vec for the treatment of wet AMD. Ixo-vec has also received PRIME designation from the EMA and the Innovation Passport from the United Kingdom’s Medicines and Healthcare Products Regulatory Agency for the treatment of wet AMD.
About Adverum Biotechnologies
Adverum Biotechnologies (NASDAQ: ADVM) is a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases with the aspiration of developing functional cures to restore vision and prevent blindness. Leveraging the capabilities of its proprietary intravitreal platform, Adverum is developing durable, single-administration therapies, designed to be delivered in physicians’ offices, to eliminate the need for frequent ocular injections to treat these diseases. Adverum is evaluating its novel gene therapy candidate, ixoberogene soroparvovec (Ixo-vec, formerly referred to as ADVM-022), as a one-time, IVT injection for patients with neovascular or wet age-related macular degeneration. Additionally, by overcoming the challenges associated with current treatment paradigms for debilitating ocular diseases, Adverum aspires to transform the standard of care, preserve vision, and create a profound societal impact around the globe. For more information, please visit www.adverum.com.
Forward-looking Statements
Statements contained in this press release regarding events or results that may occur in the future are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements regarding: the therapeutic and commercial potential of Ixo-vec, including its potential to be One-And-Done therapy for wet AMD patients; the anticipated completion of screening, enrollment and announcement of the topline data results for the ARTEMIS Phase 3 trial; and other statements that are not a historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including risks inherent to, without limitation: Adverum’s novel technology, which makes it difficult to predict the timing of commencement and completion of clinical trials; regulatory uncertainties; enrollment uncertainties; the results of early clinical trials not always being predictive of future clinical trials and results; the potential for future complications or side effects in connection with use of Ixo-vec; Adverum’s ability to continue as a going concern and improve its financial position; and risks associated with market conditions. Additional risks and uncertainties facing Adverum are set forth under the caption “Risk Factors” and elsewhere in Adverum’s Securities and Exchange Commission (SEC) filings and reports, including Adverum’s most recent Quarterly Report on Form 10‑Q filed with the SEC on August 12, 2025 and subsequent filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Adverum undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Corporate & Investor Inquiries:
Adverum Investor Relations
Email: ir@adverum.com
Media:
Jason Awe, Ph.D.
Executive Director, Corporate Communications
Email: jawe@adverum.com
FAQ
When will Adverum's Phase 3 ARTEMIS trial for Ixo-vec complete enrollment?
What is the purpose of Adverum's ARTEMIS Phase 3 trial for wet AMD?
When will Adverum (ADVM) release topline data for the ARTEMIS trial?
How many patients will be enrolled in Adverum's Phase 3 ARTEMIS trial?
What makes Ixo-vec different from current wet AMD treatments?
