Welcome to our dedicated page for Adverum Biotech news (Ticker: ADVM), a resource for investors and traders seeking the latest updates and insights on Adverum Biotech stock.
Adverum Biotechnologies, Inc. (ADVM) generated a stream of news as a clinical-stage gene therapy company focused on highly prevalent ocular diseases, particularly neovascular or wet age-related macular degeneration (wet AMD). Company releases consistently describe Adverum’s goal of establishing intravitreal gene therapy as a new standard of care, using durable, single-administration treatments to preserve sight and potentially prevent blindness.
News coverage for ADVM has centered on the development of its lead gene therapy candidate, ixoberogene soroparvovec (Ixo-vec, formerly ADVM-022). Updates have included milestones in the pivotal Phase 3 ARTEMIS trial for wet AMD, such as initiation, screening progress, and the completion of target enrollment of 284 patients, as reported in SEC filings and press releases. Additional articles have highlighted long-term follow-up data from earlier studies like OPTIC and LUNA, as well as scientific presentations on Ixo-vec biodistribution and aflibercept expression in the eye.
Investors following ADVM-related news can also see announcements about regulatory designations for Ixo-vec, including Fast Track and RMAT status from the U.S. FDA, PRIME designation from the European Medicines Agency, and the Innovation Passport in the UK. Corporate updates have covered financing activities, inducement equity grants under the 2017 Inducement Plan, and participation in ophthalmology conferences.
A major theme in later news is the strategic transaction with Eli Lilly and Company. Releases dated October and December 2025 detail Lilly’s tender offer to acquire all outstanding Adverum shares for cash plus a non-tradable contingent value right (CVR), and the subsequent expiration and completion of the tender offer with all conditions satisfied. This news page therefore serves both as a record of Adverum’s clinical and corporate developments and as an archive of announcements leading up to and including its acquisition by Lilly.
Adverum Biotechnologies announced that the FDA has granted Orphan Drug Designation to ADVM-062, a gene therapy aimed at treating blue cone monochromacy (BCM). ADVM-062 delivers a functional copy of the OPN1LW gene via intravitreal injection, addressing a significant unmet medical need. BCM affects 1 to 9 in 100,000 males globally and currently has no cure. The designation offers incentives for development and could lead to a seven-year marketing exclusivity if approved. Adverum plans to present preclinical data in 1H2022 and submit an IND application by year-end 2022.
Adverum Biotechnologies (Nasdaq: ADVM) announced plans for a Phase 2 trial of ADVM-022 in wet AMD, expecting to dose the first patient in Q3 2022. The trial will investigate two dosage levels and employs new steroid prophylaxis regimens. The company anticipates its cash reserves will support operations through 2024, as it also plans leadership hiring and board expansions. Key outcomes from previous studies showed a greater than 80% reduction in required anti-VEGF injections, enhancing confidence in ADVM-022's potential. All plans are subject to regulatory reviews.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) has appointed Rupert D’Souza, Ph.D., M.B.A., as its new Chief Financial Officer (CFO). D’Souza will be a member of the executive committee and will oversee financial operations, planning, and accounting. He aims to leverage his expertise to advance the company’s Phase 2 clinical trial for ADVM-022 targeting wet age-related macular degeneration. The company is well-positioned financially, with a projected cash runway into 2024. D’Souza received a stock option grant of 400,000 shares as part of his inducement offer.
Adverum Biotechnologies (Nasdaq: ADVM) reported its Q3 financial results for the period ending September 30, 2021. The company continues to focus on its gene therapy ADVM-022 for wet age-related macular degeneration (wet AMD). Key highlights include data presentation showing an over 80% reduction in annualized anti-VEGF injections for patients. Financially, total cash and short-term investments were $332.7 million, while R&D expenses rose to $24.1 million. The net loss increased to $38.4 million, or $0.39 per share, compared to $27.8 million, or $0.31 per share, in Q3 2020.
Adverum Biotechnologies (Nasdaq: ADVM) focuses on advancing ADVM-022 for wet age-related macular degeneration (wet AMD) after presenting data from the INFINITY clinical trial at the ASRS meeting. The company is shifting its development strategy from diabetic macular edema (DME) to wet AMD, emphasizing low doses (2 x 1011 vg/eye) with promising safety and durability observed in previous trials. Key findings highlighted the importance of patient characteristics and dosing in achieving therapeutic efficacy and safety.
Adverum Biotechnologies (Nasdaq: ADVM) presented promising long-term results from its OPTIC clinical trial of ADVM-022, a gene therapy for wet AMD. Key findings include a sustained >80% reduction in annualized anti-VEGF injection frequency and over 50% of patients remaining free of injections at a median follow-up of 1.7 years post-treatment. Safety data indicates mild to moderate adverse events with no significant complications. The company plans further analysis and a Phase 2 trial to enhance safety and evaluate lower doses.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) has announced new clinical data for its gene therapy, ADVM-022, focusing on wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). The company plans to present this data at the Retina Society’s Annual Scientific Meeting on October 1 and the ASRS Annual Scientific Meeting on October 9. Adverum is moving forward with the development of ADVM-022 in wet AMD, but has decided to halt its development for DME. Upcoming presentations will detail the Phase 1 OPTIC and Phase 2 INFINITY trial data.
Adverum Biotechnologies (Nasdaq: ADVM) has appointed Jim Wang, Ph.D., as senior vice president, head of regulatory affairs. Dr. Wang brings over 17 years of regulatory experience, notably his success in obtaining global approvals for LUXTURNA®, the first ocular gene therapy approved in the U.S. and EU. His role includes steering regulatory strategies for Adverum's drug pipeline, particularly ADVM-022 for wet AMD. Additionally, stock options were granted as inducements for Dr. Wang and Karina Nip, vice president, controller, both vesting over four years.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) reported its Q2 2021 financial results, revealing a cash position of $363.8 million, expected to last into 2024, a significant extension from prior guidance. R&D expenses rose to $22.6 million, while general and administrative costs surged to $21.9 million. The net loss widened to $44.3 million, or $0.45 per share. The company is prioritizing ADVM-022 development for wet age-related macular degeneration, presenting promising long-term efficacy data but will not pursue its development in diabetic macular edema.
Adverum Biotechnologies (Nasdaq: ADVM) has revised its ADVM-022 development strategy to concentrate on wet age-related macular degeneration (wet AMD) while discontinuing plans for diabetic macular edema (DME). Following safety evaluations from the INFINITY and OPTIC clinical trials, a dose-limiting toxicity (DLT) was observed at high doses in DME patients. Adverum will now focus on a future Phase 2 trial for ADVM-022 in wet AMD utilizing lower doses. The company emphasizes patient safety and plans to present more data in upcoming medical conferences.