Adverum Biotechnologies, Inc. - ADVM STOCK NEWS

Adverum Biotechnologies (Nasdaq: ADVM) announced significant progress in its Phase 2 LUNA trial for Ixo-vec (formerly ADVM-022), with the first patient dosing on track for Q3 2022. The company received FDA feedback and EMA PRIME designation, recognizing the unmet needs in wet AMD. Financially, cash reserves stand at $235.8 million, expected to last until 2025. However, R&D expenses rose to $30.3 million, while net loss narrowed slightly to $43.8 million in Q2 2022.

Adverum Biotechnologies (NASDAQ: ADVM) announced that its CEO, Laurent Fischer, will present at the H.C. Wainwright 2nd Annual Ophthalmology Virtual Conference on August 17, 2022. The presentation aims to showcase Adverum's innovative approach to gene therapy for ocular diseases, particularly its candidate, ixoberogene soroparvovec (Ixo-vec), for treating wet age-related macular degeneration. An on-demand webcast of the presentation will be available on the company’s website for 30 days following the event, promoting awareness of their gene therapy advancements.

Adverum Biotechnologies (Nasdaq: ADVM) has granted a stock option for 100,000 shares to a new employee as an inducement under Nasdaq Rule 5635(c)(4). The exercise price is based on the closing sales price on the grant date, and the option will vest over four years, contingent on the employee's continued service. Adverum is focused on gene therapy for ocular diseases, particularly developing ADVM-022 as a one-time treatment for wet age-related macular degeneration.

Adverum Biotechnologies (NASDAQ: ADVM) presented promising results from the OPTIC trial for its gene therapy product, ADVM-022, aimed at treating wet age-related macular degeneration (wet AMD). The study reported an 81%-98% reduction in annual anti-VEGF injections and sustained improvements in mean best-corrected visual acuity (BCVA) and reduced central subfield thickness (CST) for up to two years post-treatment. The Phase 2 LUNA trial is set to begin dosing in Q3 2022, with preliminary data expected throughout 2023.

Adverum Biotechnologies (Nasdaq: ADVM) will present new data from the Phase 1 OPTIC study of ADVM-022 (ixoberogene soroparvovec) for treating wet age-related macular degeneration (wet AMD) at the ASRS 2022 Annual Meeting on July 15, 2022. The presentation will highlight best-corrected visual acuity (BCVA) results and aflibercept protein expression data up to three years post-treatment. Wet AMD affects about 20 million people globally and is a leading cause of blindness in older adults. ADVM-022 offers a one-time IVT injection alternative to frequent anti-VEGF treatments, aiming to improve patient compliance and visual outcomes.

Adverum Biotechnologies has announced the initiation of its Phase 2 LUNA trial for ADVM-022 (ixoberogene soroparvovec) aimed at treating wet age-related macular degeneration (wet AMD). The trial will enroll up to 72 patients and test two dose levels along with enhanced steroid regimens. Cash runway extended into 2025 due to corporate restructuring focused on ADVM-022's clinical development. The LUNA trial aims to build on previous trial successes while evaluating safety and efficacy. Adverum reported $271.1 million in cash as of March 31, 2022.

Adverum Biotechnologies, Inc. (Nasdaq: ADVM) announced that its gene therapy candidate ADVM-022 has received Priority Medicines (PRIME) designation from the European Medicines Agency (EMA) for treating wet age-related macular degeneration (wet AMD). This designation aims to expedite the development of medicines addressing significant unmet needs. ADVM-022 is administered as a one-time intravitreal injection and shows promising results from the OPTIC trial, offering a potential alternative to frequent anti-VEGF injections. A Phase 2 study is planned for Q3 2022.

Adverum Biotechnologies (ADVM) announced new data from the OPTIC study on its gene therapy candidate, ADVM-022, for treating wet age-related macular degeneration (AMD). Findings indicate that aflibercept protein levels remain therapeutically effective for three years after a single dose. The study also reported an 81% reduction in anti-VEGF injections and a 70% decrease in CST fluctuations for patients with specific neutralizing antibody titers. Adverum plans to initiate a Phase 2 study later this year to further evaluate ADVM-022's efficacy and safety.

Adverum Biotechnologies announced new data from the Phase 1 OPTIC study of ADVM-022, a gene therapy for wet AMD, showing therapeutic levels of aflibercept maintained for three years. The study evaluates anatomical outcomes from a single injection of ADVM-022 compared to standard anti-VEGF treatment. Results will be presented at the Macula Society's Annual Meeting on June 9, 2022, highlighting the potential advantages of ADVM-022, such as reduced treatment frequency and improved patient compliance.