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. (NASDAQ: ADVM) is a clinical-stage gene therapy pioneer developing innovative treatments for ocular and rare diseases through its proprietary intravitreal platform. This resource provides investors and medical professionals with essential updates on the company's clinical trials, regulatory milestones, and strategic initiatives.
Access real-time information about ADVM's AAV-based therapies designed to reduce treatment burdens in conditions like wet AMD. The page aggregates official press releases, partnership announcements, and trial result disclosures - critical data for evaluating the company's progress in advancing durable single-dose therapies.
Key content includes updates on lead candidates like the wet AMD gene therapy program, manufacturing developments, and peer-reviewed research publications. Track progress across therapeutic areas including ophthalmology and rare genetic disorders through verified company communications.
Bookmark this page for streamlined access to ADVM's latest scientific advancements and corporate updates. Check regularly for new developments in their mission to transform chronic disease management through groundbreaking gene therapy approaches.
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.
Adverum Biotechnologies (Nasdaq: ADVM) announced the appointment of Jon Williams, Ph.D., as vice president of clinical affairs, effective immediately. With 25 years of experience in drug development and regulatory strategies, Dr. Williams will enhance the clinical development of the novel gene therapy candidate ADVM-022. He previously held significant roles at Bausch Health and Aerie Pharmaceuticals, contributing to multiple successful product developments. Additionally, Dr. Williams received a stock option grant of 100,000 shares, vesting over four years, contingent on his continued service.
Adverum Biotechnologies (Nasdaq: ADVM) announces leadership changes as Leone Patterson departs as president and CFO after five years. Christopher J. DeRespino takes over as acting CFO, previously serving as chief business officer, and Peter Soparkar has been appointed COO. Both appointments are effective immediately. The company emphasizes continued focus on patient safety as they prepare to update on the ADVM-022 program in August. Adverum is committed to addressing unmet medical needs in ocular and rare diseases through innovative gene therapies.
Adverum Biotechnologies (Nasdaq: ADVM) announced the appointments of Julie Clark, M.D. as chief medical officer and Brigit Riley, Ph.D. as chief scientific officer, effective immediately. Both leaders will report to Laurent Fischer, M.D.. Their extensive backgrounds in gene therapy will enhance Adverum's efforts in the ADVM-022 program, which focuses on addressing patient safety and expanding the pipeline for ocular diseases. An inducement grant was provided to Dr. Riley, allowing her to purchase 450,000 shares of common stock, with details outlined under Nasdaq regulations.
The Sonic Fund II, L.P., holding approximately 6.8% of Adverum Biotechnologies' common stock (NASDAQ: ADVM), issued a statement on the preliminary voting results from the 2021 Annual Meeting of Stockholders. Sonic expressed gratitude for stockholder support for change and highlighted that proxy advisory firms ISS and Glass Lewis recommended voting for its nominees, citing serious shortcomings in the Company's approach, particularly regarding the ADVM-022 development. Sonic emphasized the need for Adverum to enhance Board accountability and refocus on addressing critical patient needs.
Adverum Biotechnologies (Nasdaq: ADVM) announced the preliminary results of its 2021 Annual Meeting of Stockholders. Shareholders re-elected directors Dawn Svoronos, Reed V. Tuckson, M.D., and Thomas Woiwode, Ph.D., ratified Ernst & Young LLP as independent auditors, and approved executive compensation on an advisory basis. The Board acknowledged shareholder support and feedback while emphasizing patient safety in the ongoing ADVM-022 program. Final voting results will be reported in a Form 8-K submitted to the SEC.
Sonic Fund II, L.P. owns about 6.8% of Adverum Biotechnologies, Inc. (NASDAQ: ADVM) and expresses concerns about stockholder impressions regarding management's potential resignation if Sonic's nominees join the Board. Sonic urges stockholders to disregard these fears unless publicly clarified by Adverum's management. The Fund emphasizes the importance of fiduciary duties under Delaware law and advocates for its independent nominees to work collaboratively with existing Board members to enhance stockholder value and improve patient care.
The Sonic Fund II, L.P., holding 6.8% of Adverum Biotechnologies (NASDAQ: ADVM), urges shareholders to vote for its nominees at the 2021 Annual Meeting on May 12, 2021. Sonic criticizes Adverum for mismanaging the development of ADVM-022, a gene therapy for wet AMD, resulting in a significant drop in stock price (~60% after a serious adverse reaction). Leading proxy advisory firms recommend Sonic's nominees for change in the Board, stressing the need for better oversight and expertise to advance ADVM-022's development and restore shareholder value.
Adverum Biotechnologies Inc. (Nasdaq: ADVM) announced that Jean Bennett, a nominee for its Board of Directors, has opted to withdraw her candidacy ahead of the Annual Meeting scheduled for May 12, 2021. This decision was communicated to CEO Laurent Fischer on May 6, following Dr. Bennett's discomfort with the role. Adverum emphasized its commitment to patient safety in the ongoing review of its ADVM-022 program, aimed at treating serious ocular diseases. The company continues to prioritize this clinical development while the situation unfolds with Sonic Fund II.
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