Adverum Stockholders Re-Elect All Adverum Director Nominees at 2021 Annual Meeting

Rhea-AI Summary

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.

Positive

• Re-election of experienced directors strengthens governance.
• Support from stockholders reflects confidence in management and strategy.

Negative

• None.

REDWOOD CITY, Calif., May 12, 2021 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that, based on a preliminary vote count provided by its proxy solicitors following its 2021 Annual Meeting of Stockholders, stockholders have voted to re-elect all three of Adverum’s highly qualified director nominees – Dawn Svoronos, Reed V. Tuckson, M.D. and Thomas Woiwode, Ph.D. – to the Adverum Board of Directors, ratified the selection of Ernst & Young LLP as independent auditors and approved, on an advisory basis, the compensation of Adverum’s named executive officers.

Adverum issued the following statement:

The Adverum Board and management team appreciate the support of our stockholders and the constructive feedback we received throughout this process. We are encouraged that stockholders recognize the strength of our Board, management team and strategy to drive Adverum forward. Adverum is laser focused on conducting a thorough review of data from the ADVM-022 program, and patient safety remains its top priority.

The results of the vote announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Elections. Final results will be reported on a Form 8-K that will be filed with the U.S. Securities and Exchange Commission.

About Adverum Biotechnologies

Adverum Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema. For more information, please visit www.adverum.com.

Investor Relations Contact

Myesha Lacy
Vice President, Investor Relations and Corporate Communications
Adverum Biotechnologies, Inc.
T: 650-649-1257
E: mlacy@adverum.com 

Or

Scott Winter / Gabrielle Wolf
Innisfree M&A Incorporated
T: 212-750-5833

Media Contact

Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com 

Or

Dan Moore
Joele Frank, Wilkinson Brimmer Katcher
T: 212-355-4449

FAQ

What were the results of Adverum's 2021 Annual Meeting of Stockholders?

Stockholders re-elected all three director nominees, ratified Ernst & Young LLP as auditors, and approved executive compensation on an advisory basis.

Who are the re-elected directors of Adverum?

The re-elected directors are Dawn Svoronos, Reed V. Tuckson, M.D., and Thomas Woiwode, Ph.D.

What is the focus of Adverum Biotechnologies?

Adverum Biotechnologies specializes in gene therapies for ocular and rare diseases, with a focus on the ADVM-022 program.