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 (ADVM) reported positive interim data from its OPTIC Phase 1 clinical trial of ADVM-022, a gene therapy for wet age-related macular degeneration (AMD). The data indicate long-term durability beyond 15 months post-single injection, with a robust treatment response and a significant reduction in the need for anti-VEGF rescue injections. Financially, cash reserves stood at $280.1 million as of June 30, 2020, enabling operation funding into 2022. However, the company recorded a net loss of $29.2 million for the second quarter, reflecting increased R&D and administrative expenses.
Adverum Biotechnologies (Nasdaq: ADVM) announced a conference call on August 10, 2020, at 1:30 pm PT to discuss its Q2 2020 financial results and provide a corporate update. This call will focus on the company's gene therapy candidate, ADVM-022, aimed at treating wet age-related macular degeneration and diabetic macular edema. Investors can access the live webcast through the company's website and are encouraged to join 15 minutes early for the call.
Adverum Biotechnologies (Nasdaq: ADVM) announced the appointment of Thomas Kochy as vice president of commercial and program strategy. This new position focuses on leading commercial planning and product strategy. Kochy brings over 15 years of experience in the biopharmaceutical industry, notably in ophthalmology at Genentech. He holds an MBA from the University of California, Berkeley. As part of his onboarding, Kochy received a stock option to purchase 100,000 shares of ADVM's common stock.
The company is advancing clinical trials for its gene therapy candidate ADVM-022.
Adverum Biotechnologies (Nasdaq: ADVM) has randomized the first patient in the INFINITY clinical trial to evaluate ADVM-022 for diabetic macular edema (DME). DME affects about 5% of individuals with diabetes, a condition impacting over 30 million people in the U.S. The INFINITY trial aims to assess the effectiveness of a single injection of ADVM-022 compared to standard therapy. With the goal of reducing treatment burden, the company expects to present data from the trial in the second half of 2021. This advancement highlights Adverum's commitment to addressing significant unmet medical needs in vision loss therapies.
Adverum Biotechnologies (Nasdaq: ADVM) announced the completion of patient dosing in Cohort 4 of the OPTIC Phase 1 trial for ADVM-022, aimed at treating wet age-related macular degeneration (AMD). This trial involves a single intravitreal injection designed to reduce dependence on frequent anti-VEGF treatments. The trial’s primary focus is on safety and tolerability, with preliminary data suggesting significant long-term benefits from the therapy. Adverum plans to release comprehensive results from all cohorts by the end of 2020, potentially transforming treatment paradigms for wet AMD.
Adverum Biotechnologies (Nasdaq: ADVM) announced the appointment of Heikki Jouttijärvi as vice president of manufacturing effective June 25, 2020. He will lead the manufacturing and supply chain strategy, reporting to CTO Angela Thedinga. Jouttijärvi has over 25 years of global pharmaceutical experience and was previously VP at Menlo Therapeutics. He received a stock option for 100,000 shares as an inducement. This leadership change aims to bolster manufacturing capabilities as Adverum progresses its gene therapy candidate ADVM-022 through clinical trials.
Adverum Biotechnologies (Nasdaq: ADVM) has appointed Dr. Laurent Fischer as CEO, succeeding Leone Patterson, who remains President. Dr. Fischer brings over 20 years of biopharmaceutical experience, having previously held senior positions at Allergan and Tobira Therapeutics. This leadership change aims to enhance the development of ADVM-022, a gene therapy targeting wet age-related macular degeneration and diabetic macular edema. The board is optimistic about leveraging Fischer's expertise to optimize growth and patient outcomes.
Adverum Biotechnologies (Nasdaq: ADVM) announced the initiation of the INFINITY Phase 2 trial for ADVM-022, targeting diabetic macular edema (DME), the leading cause of vision loss in diabetic retinopathy. This randomized, controlled trial will enroll approximately 33 patients to evaluate the efficacy of a single intravitreal injection of ADVM-022 compared to aflibercept. The company also reported Q1 2020 financials, with a net loss of $22.9 million and cash reserves of $297.1 million, expected to fund operations into 2022. Positive interim data from the OPTIC Phase 1 trial for wet AMD was presented, with full cohort results anticipated by year-end.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) will host a conference call on May 28, 2020, at 1:30 PM PT to discuss its Q1 2020 financial results and business updates. The call will be accessible via audio webcast on the company's website. Participants are encouraged to dial in 15 minutes early. Adverum is focused on addressing unmet medical needs in ocular and rare diseases, particularly with its gene therapy candidate, ADVM-022, aimed at treating wet age-related macular degeneration.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) released positive interim data from the OPTIC Phase 1 trial of ADVM-022 for treating wet age-related macular degeneration (AMD). Key findings include strong efficacy with zero rescue injections in Cohort 1 over one year and encouraging results in Cohort 3, with significant improvements in vision and anatomy. The company reported $297 million in cash as of March 31, 2020, and plans to begin patient enrollment for diabetic retinopathy trials later this year. A conference call will elaborate on these findings.
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