Trade Adverum Biotechn - ADVM CFD

Adverum Biotechn Company profile

About Adverum Biotechnologies Inc

Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company targeting ocular and rare diseases. It develops gene therapy product candidates. Its ADVM-022, is a clinical-stage gene therapy product candidate developed for the treatment of wet age-related macular degeneration (AMD) and diabetic macular edema (DME). ADVM-022, is given as a one-time in-office intravitreal (IVT) injection and is designed to reduce the burden of anti-vascular endothelial growth factor (anti-VEGF) injections, optimize patient compliance and improve vision outcomes for patients with wet AMD or DME. It is conducting the OPTIC trial, designed as a multi-center, open-label, Phase I, dose-ranging safety trial of ADVM-022 in patients with wet AMD, who have demonstrated responsiveness to anti-VEGF treatment. It is also conducting the INFINITY trial, a multi-center, Phase II, randomized, double-masked, active comparator-controlled study evaluating a single IVT injection of ADVM-022 in patients with DME.

Financial summary

BRIEF: For the nine months ended 30 September 2021, Adverum Biotechnologies Inc revenues increased from $0K to $7.5M. Net loss increased 39% to $111.1M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects General and administrative - Balancing increase of 74% to $37.8M (expense), Research and development -gross increase of 31% to $59.5M (expense).