Adverum Q1 2021 Earnings Report
Key Takeaways
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.
Management is focused on a thorough review of patient safety data from the ADVM-022 program.
Long-term data from the OPTIC trial demonstrated ADVM-022’s durability in patients with wet AMD.
A SUSAR of hypotony was announced in the INFINITY clinical trial, leading to a review of the ADVM-022 program data.
The company is evaluating timelines and capital allocation priorities to extend its cash runway.
Adverum
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Adverum Revenue by Segment
Forward Guidance
Adverum is evaluating its timelines and capital allocation priorities with an aim to extend its cash runway beyond prior guidance.