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.
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Adverum Biotechnologies announced new nonclinical data supporting its Phase 2 LUNA trial of Ixo-vec for treating wet age-related macular degeneration (wet AMD). The data suggest that staggered bilateral administration of Ixo-vec is feasible, with promising tolerability and aflibercept levels within therapeutic ranges. The study identified a no-observed-adverse-effect level (NOAEL) at a human equivalent dose of 2E11, reinforcing the ongoing evaluation of both 2E11 and 6E10 doses. Approximately 10% of wet AMD patients convert to bilateral disease annually, highlighting the treatment's unmet need. These findings were presented at the ARVO 2023 Annual Meeting, further emphasizing Ixo-vec's potential to improve patient outcomes in a condition that affects around 20 million people globally.
Adverum Biotechnologies (NASDAQ: ADVM) announced that its investigational gene therapy, Ixo-vec, received an Innovation Passport from the UK's Medicines and Healthcare Products Regulatory Agency under the Innovative Licensing and Access Pathway. This designation aims to expedite regulatory processes and enhance patient access. Ixo-vec has also secured Fast Track designation from the FDA and PRIME designation from the EMA. The therapy shows promise with over 80% reduction in anti-VEGF injections in the OPTIC trial, suggesting potential for a functional cure for wet AMD. The ongoing LUNA trial will assess further outcomes, with interim results expected in Q3 2023.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced its presentation at the ARVO 2023 Annual Meeting concerning Ixoberogene soroparvovec (Ixo-vec), targeted at treating neovascular age-related macular degeneration. This presentation, scheduled for April 23, 2023, will highlight nonclinical data supporting a human equivalent dose of 6x1010 vg/eye and provide insights on aflibercept protein levels, durability, and tolerability following staggered bilateral administration. A press release will accompany the presentation, detailing findings. Additionally, on the same day, Adverum granted a stock option for 150,000 shares to a new employee, reflecting its commitment to attracting talent in line with Nasdaq's regulations.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) has announced the anticipated full enrollment of its Phase 2 LUNA trial for ixoberogene soroparvovec (Ixo-vec) in wet AMD by the second half of 2023. The company expects to release 14-week data in Q3 2023, including aflibercept levels, and preliminary efficacy and safety data in Q4 2023. With cash and equivalents of $185.6 million as of December 31, 2022, Adverum projects a runway into 2025. Research and development expenses slightly decreased to $22.2 million, with a net loss of $32.7 million for Q4 2022, reflecting ongoing clinical trial investments.
Adverum Biotechnologies (Nasdaq: ADVM), a clinical-stage company focusing on gene therapy for ocular diseases, announced CEO Laurent Fischer will present at two investor conferences in March 2023. The first is the Cowen 43rd Annual Health Care Conference on March 8 at 12:50 p.m. ET, followed by the Oppenheimer 33rd Virtual Annual Healthcare Conference on March 15 at 2:00 p.m. ET. Investors can access a replay of the webcast for 90 days post-presentation on the company's website. Adverum aims to redefine treatment for ocular diseases with its novel gene therapy candidate, ixoberogene soroparvovec, which could provide a one-time injection solution for wet age-related macular degeneration.
Adverum Biotechnologies (Nasdaq: ADVM) announced the grant of stock options to a new employee, totaling 150,000 shares. This grant adheres to the inducement grant exception under Nasdaq Rule 5635(c)(4), intended to incentivize the employee's commitment. The options come with an exercise price equivalent to the closing sales price on the grant date, vesting over four years based on continued employment. Adverum, focused on gene therapy for ocular diseases, is developing ixoberogene soroparvovec (Ixo-vec) as a one-time treatment for conditions like wet age-related macular degeneration, aiming to improve patient care and vision restoration.
Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced the grant of stock options to a new employee on December 1, 2022. The grant consists of 200,000 shares under Nasdaq Rule 5635(c)(4), serving as an inducement for the employee. The exercise price is set at the closing price on the grant date, with options vesting over four years, contingent upon continued employment. Adverum focuses on developing gene therapies for ocular diseases, aiming to transform treatment paradigms and improve patient outcomes.
Adverum Biotechnologies (Nasdaq: ADVM) announced its first subject dosed in the Phase 2 LUNA trial for Ixo-vec, targeted at wet AMD, as it reports Q3 2022 financial results. The company highlighted promising interim data from its OPTIC trial, showing that Ixo-vec can significantly reduce injection frequency, with an 81%-98% decrease in mean annualized anti-VEGF injections. Financially, Adverum had $203.3 million in cash as of September 30, 2022, projected to fund operations into 2025. The net loss for Q3 2022 was $40.1 million, or $0.40 per share, reflecting a slight increase from the previous year.
Adverum Biotechnologies (NASDAQ: ADVM) presented promising long-term data from the OPTIC study for Ixo-vec, a gene therapy for wet age-related macular degeneration (AMD). The study showed that a single intravitreal injection of Ixo-vec reduced annualized anti-VEGF injections by 81% to 98% over two years. Notably, 80% of subjects in the higher dose group were injection-free. The therapy maintained or improved visual acuity and central thickness, with all participants in the lower dose group remaining free from inflammation at study's end. Data supports ongoing Phase 2 LUNA trial.