Adverum Biotechnologies (ADVM) Company Overview

Adverum Biotechnologies (ADVM) came out with a quarterly loss of $1.30 per share versus the Zacks Consensus Estimate of a loss of $1.20. This compares to loss of $3.30 per share a year ago.

- 52-week LUNA and 4-year OPTIC data, alongside Phase 3 trial design updates, anticipated in Q4 2024 - Appointed Jason Mitchell as chief commercial officer - On track to initiate pivotal program in 1H 2025 - $153.2 million in cash, cash equivalents and short-term investments  expected to fund operations into late 2025 REDWOOD CITY, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today reported financial results for the third quarter of 2024 and provided updates to anticipated milestones.

REDWOOD CITY, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the appointment of Jason L. Mitchell as chief commercial officer. Mr Mitchell brings to Adverum over 20 years of commercial experience, including in retinal disease, and most recently oversaw the successful launch of SYFOVRE® in geographic atrophy (GA). In his new role, Mr. Mitchell will be responsible for setting the launch strategy and building the commercial infrastructure for ixoberogene soroparvovec (Ixo-vec), Adverum's potential one-time intravitreal (IVT) injection for the treatment of neovascular or wet age-related macular degeneration (wet AMD). Ixo-vec is currently being evaluated in the Phase 2 LUNA clinical trial. The company plans to announce LUNA 52-week data and pivotal program details in the 4th quarter of 2024. In addition, the company is on track to initiate the Ixo-vec pivotal program in the 1st half of 2025.

Adverum Biotechnologies (ADVM) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

REDWOOD CITY, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the company will present at the following upcoming investor conferences:

REDWOOD CITY, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that Laurent Fischer, M.D., president and chief executive officer of Adverum Biotechnologies, will participate in a fireside chat at the H.C. Wainwright 4th Annual Ophthalmology Virtual Conference on August 15, 2024 at 2:00 p.m. ET.

Here is how Adverum Biotechnologies (ADVM) and Medpace (MEDP) have performed compared to their sector so far this year.

Adverum Biotechnologies (ADVM) is currently considered oversold, suggesting that the intense selling pressure on the stock may be coming to an end. This, along with the consensus among Wall Street analysts in raising earnings estimates, points towards a possible turnaround for the stock in the near future.

Here is how Adverum Biotechnologies (ADVM) and Cigna (CI) have performed compared to their sector so far this year.