Adverum to Present Data from ADVM-022 Clinical Trials at Upcoming Medical Conferences

Rhea-AI Summary

Adverum Biotechnologies, Inc. (Nasdaq: ADVM) has announced new clinical data for its gene therapy, ADVM-022, focusing on wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). The company plans to present this data at the Retina Society’s Annual Scientific Meeting on October 1 and the ASRS Annual Scientific Meeting on October 9. Adverum is moving forward with the development of ADVM-022 in wet AMD, but has decided to halt its development for DME. Upcoming presentations will detail the Phase 1 OPTIC and Phase 2 INFINITY trial data.

Positive

• Presentation of new clinical data for ADVM-022 in wet AMD at two prominent conferences.
• Continued development of ADVM-022 for wet AMD indicates commitment to addressing unmet medical needs.

Negative

• Halting the development of ADVM-022 for DME could limit potential market opportunities.

REDWOOD CITY, Calif., Sept. 27, 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 the presentation of new clinical data on ADVM-022 intravitreal (IVT) injection gene therapy from the OPTIC trial in wet age-related macular degeneration (wet AMD) and the INFINITY trial in diabetic macular edema (DME) at upcoming medical conferences. Adverum is planning clinical development of ADVM-022 at the 2 x 10^11 vg/eye and a lower dose in patients with wet AMD. As previously disclosed, the company is no longer planning to develop ADVM-022 in DME.

Presentation of New Long-term OPTIC Data in Wet AMD
Event: Retina Society’s 54^th Annual Scientific Meeting
Title: ADVM-022 Intravitreal Gene Therapy for Neovascular AMD - Phase 1 OPTIC Study
Date: October 1, 2021
Time: 3:00 pm CT (4:00 pm ET)
Presenter: Arshad M. Khanani, M.D., M.A., managing partner and director of clinical research, Sierra Eye Associates; clinical associate professor, University of Nevada, Reno School of Medicine

Presentation of INFINITY Data in DME
Event: American Society of Retina Specialists (ASRS) 39^th Annual Scientific Meeting
Title: Intravitreal Gene Therapy for Diabetic Macular Edema (DME) With ADVM-022: First-Time Data Presentation of Prospective, Randomized Phase 2 INFINITY Trial
Date: October 9, 2021
Time: 10:28 am CT (11:28 am ET)
Presenter: Charles C. Wykoff, M.D., Ph.D., director of research, Retina Consultants of Texas; chairman of research and clinical trials, Retina Consultants of America; deputy chair for ophthalmology, Blanton Eye Institute and associate clinical professor of ophthalmology, Weill Cornell Medical College, Houston Methodist Hospital, Houston, Texas

Encore Presentation of OPTIC Data in Wet AMD
Event: ASRS 39^th Annual Scientific Meeting
Title: Intravitreal Gene Therapy for Neovascular AMD with ADVM-022: Results of the Phase 1 OPTIC Trial
Date: October 11, 2021
Time: 8:50 am CT (9:50 am ET)
Presenter: Dante Pieramici, M.D., FASRS, partner, California Retina Consultants

Adverum intends to issue press releases concurrent with the presentation at Retina Society on October 1 and at ASRS on October 9, and plans to post all three data presentations on the Publications page in the Pipeline section of the company’s website.

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 evaluating its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration. For more information, please visit www.adverum.com.

Investor Inquiries:
Amy Figueroa, CFA
Vice President, Investor Relations and Corporate Communications
Adverum Biotechnologies, Inc.
1-650-649-1257

Media Inquiries:
Andrea Cohen
Sam Brown Inc.
1-917-209-7163

FAQ

What is ADVM-022 and its purpose?

ADVM-022 is a gene therapy candidate developed by Adverum for treating wet age-related macular degeneration.

What upcoming events are related to ADVM-022?

Adverum will present new clinical data on ADVM-022 at the Retina Society’s Annual Scientific Meeting on October 1 and the ASRS Annual Scientific Meeting on October 9.

What were the results of the OPTIC and INFINITY trials?

The specific results will be presented at the upcoming conferences, focusing on the efficacy and safety of ADVM-022.

Why is Adverum ceasing to develop ADVM-022 for DME?

Adverum has decided to focus its efforts on wet AMD, indicating a strategic shift based on trial outcomes or market analysis.

What are the implications of the new data presentations for ADVM's stock?

The presentation of positive clinical trial data could enhance investor confidence and potentially lead to a favorable stock performance.