Adverum Earnings Reports

Adverum Biotechnologies posted no revenue for Q4 2024 and widened its net loss due to increased expenses preparing for pivotal trials of Ixo-vec.

Adverum Biotechnologies reported a net loss of $27.1 million for the third quarter of 2024. The company's cash, cash equivalents, and short-term investments totaled $153.2 million as of September 30, 2024, which is expected to fund operations into late 2025.

Adverum Biotechnologies reported their Q2 2024 financial results, highlighting the selection of the 6E10 dose of Ixo-vec for Phase 3 pivotal trials and the presentation of the LUNA 26-week interim analysis. They also announced $173.8 million in cash, cash equivalents and short-term investments expected to fund operations into late 2025.

Adverum Biotechnologies reported a net loss of $24.8 million for Q1 2024. The company's cash, cash equivalents, and short-term investments were $193.3 million as of March 31, 2024, expected to fund operations into late 2025. The company is advancing its Ixo-vec program with upcoming data presentations and regulatory interactions.

Adverum Biotechnologies reported its Q4 and full-year 2023 financial results, highlighting progress in the development of Ixo-vec and the completion of a $127.5 million private placement financing.

Adverum Biotechnologies reported its third quarter financial results, highlighting progress in their LUNA and OPTIC trials for Ixo-vec, and anticipates initial Phase 2 LUNA efficacy and safety data in Q4 2023. The company's cash runway is projected into 2025.

Adverum Biotechnologies announced the completion of enrollment in its Phase 2 LUNA trial evaluating Ixo-vec for wet AMD treatment and reported financial results for the second quarter ended June 30, 2023. The company's cash runway is projected into 2025.

Adverum Biotechnologies reported its first quarter 2023 financial results. The company's cash, cash equivalents and short-term investments were $164.3 million as of March 31, 2023, and expects this to fund operations into 2025. The company anticipates full enrollment of the Phase 2 LUNA trial in the second half of 2023.

Adverum Biotechnologies reported a net loss of $32.7 million for the fourth quarter of 2022, with cash, cash equivalents, and short-term investments totaling $185.6 million as of December 31, 2022. The company expects its cash runway to fund operations into 2025 and anticipates full enrollment of the LUNA trial in the second half of 2023, with preliminary efficacy and safety data expected in the fourth quarter of 2023.

Adverum Biotechnologies reported a net loss of $40.1 million for the third quarter of 2022. The company's cash, cash equivalents, and short-term investments were $203.3 million as of September 30, 2022, which is expected to fund operations into 2025. The first subject was dosed in the Phase 2 LUNA trial with Ixo-vec.

Adverum Biotechnologies reported a net loss of $43.8 million for the second quarter of 2022. The company's cash runway is expected to extend into 2025 following a corporate restructuring.

Adverum Biotechnologies reported its Q1 2022 financial results, with a net loss of $37.9 million, or $0.38 per share. The company's cash, cash equivalents, and short-term investments were $271.1 million as of March 31, 2022, expected to fund operations into 2024. The company remains on track to dose the first patient in their planned Phase 2 trial of ADVM-022 in wet age-related macular degeneration in the third quarter of 2022.

Adverum Biotechnologies reported a net loss of $34.4 million for the fourth quarter ended December 31, 2021, with research and development expenses at $22.5 million and general and administrative expenses at $11.9 million. The company's cash, cash equivalents, and short-term investments totaled $305.2 million as of December 31, 2021, expected to fund operations into 2024.

Adverum Biotechnologies reported their Q3 2021 financial results, highlighting the continued development of ADVM-022 in wet age-related macular degeneration (wet AMD) and the focus on lower doses with improved steroid prophylaxis. They also announced further steps to ensure cash runway into 2024 by subleasing their commercial manufacturing facility and terminating a lease.

Adverum Biotechnologies reported a net loss of $44.3 million for the second quarter of 2021. The company's cash, cash equivalents, and short-term investments were $363.8 million as of June 30, 2021, which is expected to fund operations into 2024.

Adverum Biotechnologies reported first quarter 2021 results, including license revenue of $7.5 million and a net loss of $28.4 million, or $0.29 per share. The company is focused on reviewing patient safety data from the ADVM-022 program and evaluating timelines and capital allocation priorities.

Adverum Biotechnologies announced alignment with the FDA on the clinical development path for ADVM-022 and reported its Q4 2020 financial results. The company is planning to initiate two global Phase 3 trials in Q4 2021 and anticipates a BLA submission in 2024.

Adverum Biotechnologies reported a net loss of $27.8 million for the third quarter ended September 30, 2020. The FDA removed the partial clinical hold on ADVM-022, and the company raised approximately $203.4 million in net proceeds from an underwritten public offering in August 2020.

Adverum Biotechnologies announced positive interim data from the OPTIC Phase 1 clinical trial of ADVM-022 for wet AMD. The company reported recent business progress and financial results for the second quarter ended June 30, 2020. They also completed dosing patients in OPTIC, with 30 patients being followed up across four cohorts, and plan to seek regulatory input as they progress towards initiating a pivotal clinical trial in mid-2021.