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. reports developments as a clinical-stage biotechnology company focused on intravitreal gene therapy for ocular diseases. Its updates center on ixoberogene soroparvovec, or Ixo-vec, a one-time intravitreal candidate for neovascular, or wet, age-related macular degeneration, including ARTEMIS Phase 3 trial communications and clinical or regulatory disclosures.
Recurring news also includes operating and financial results, inducement equity awards under Nasdaq Listing Rule 5635(c)(4), material agreements, capital-structure matters, shareholder and governance disclosures, and corporate transaction communications.
Adverum Biotechnologies (ADVM) is set to invest over $80 million in a new 174,000-square-foot Good Manufacturing Practices facility in Durham, NC, aimed at producing ADVM-022 for wet AMD and DME. The facility will include multiple production suites with a total capacity of 4000L and is expected to create over 200 jobs. Adverum will also receive up to $9 million in state and local incentives to support this initiative. The facility is anticipated to be production-ready by the end of 2023, underpinning Adverum's commercialization strategy for its gene therapy products.
Adverum Biotechnologies (Nasdaq: ADVM), a clinical-stage gene therapy company focusing on ocular and rare diseases, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021, at 10:50 a.m. ET. The presentation will highlight the company’s innovative gene therapy candidate, ADVM-022, aimed at treating wet age-related macular degeneration and diabetic macular edema. A live webcast of the event will be available on Adverum's website, and an archived version will be accessible for 30 days following the presentation.
Adverum Biotechnologies (Nasdaq: ADVM) announced the appointment of Dawn Svoronos to its Board of Directors. Svoronos, with 30 years in the biopharmaceutical sector, most notably at Merck, is expected to guide the commercialization of the company's gene therapy candidate ADVM-022. This therapy aims to treat ocular diseases, particularly wet AMD and diabetic macular edema. The company is preparing for a pivotal Phase 2b trial in mid-2021, highlighting its commitment to addressing significant medical needs.
Adverum Biotechnologies (Nasdaq: ADVM) announced its participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference. The company focuses on addressing unmet medical needs in ocular and rare diseases. A video webcast of their presentation will be available on demand starting at 10:00 am ET today and can be accessed for 30 days on their website. Adverum is advancing its gene therapy candidate, ADVM-022, aimed at treating wet age-related macular degeneration and diabetic macular edema.
Adverum Biotechnologies announced positive interim results from the OPTIC Phase 1 trial of ADVM-022, a gene therapy for wet age-related macular degeneration (AMD). The therapy showed a substantial reduction in the need for anti-VEGF injections, with a 99% reduction in the high-dose group and 85% in the low-dose group. Patients displayed sustained efficacy and safety, with most remaining anti-VEGF injection-free. The FDA has lifted the partial clinical hold, allowing plans for pivotal trials to progress, aiming for initiation in mid-2021.
Adverum Biotechnologies reported significant progress in its clinical programs for ADVM-022 targeting wet AMD and DME. The FDA has removed a partial clinical hold, allowing the company to prepare for a pivotal trial in mid-2021. Financial results for Q3 show cash reserves of $454.5 million, bolstered by a $203.4 million public offering. However, the company reported a net loss of $27.8 million for the quarter, up from $16.1 million last year. Adverum's increased R&D expenses are attributed to growth in personnel and production costs.
Adverum Biotechnologies (Nasdaq: ADVM) announced the upcoming presentation of clinical data from its OPTIC Phase 1 trial, focusing on its ADVM-022 gene therapy for wet age-related macular degeneration (AMD). Dr. Carl Regillo will present this data on November 13, 2020, during the Retina Subspecialty Day at the AAO 2020 Virtual Meeting. A webcast featuring key opinion leaders discussing the new data will follow on November 14, 2020. The company plans to report its third-quarter financial results after the market closes on November 5, 2020.
Adverum Biotechnologies (Nasdaq: ADVM), a clinical-stage gene therapy company, will present at the Cantor Virtual Global Healthcare Conference on September 15, 2020, at 1:00 pm PT. The presentation will focus on their innovative gene therapy candidate, ADVM-022, aimed at treating wet age-related macular degeneration and diabetic macular edema. Investors can access a live webcast under the Events section on the company's website, with an archived version available for 30 days post-event.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) has announced the pricing of its underwritten public offering of 14,500,000 shares at $13.00 each, aiming to raise approximately $188.5 million. The company granted underwriters a 30-day option to purchase an additional 2,175,000 shares. The offering is expected to close on or about August 17, 2020, subject to customary conditions. Goldman Sachs, Cowen, SVB Leerink, and Piper Sandler are the joint book-running managers. The offering was made under an effective shelf registration statement previously filed with the SEC.
Adverum Biotechnologies (Nasdaq: ADVM) has launched a public offering of $200 million of its common stock, with a potential additional 15% available to underwriters. The offering, conducted by Goldman Sachs, Cowen, SVB Leerink, and Piper Sandler, is subject to market conditions. This follows a previous shelf registration statement filed with the SEC in August 2019. The final terms will be disclosed in a subsequent prospectus. The company is focusing on addressing unmet medical needs in ocular and rare diseases.