•
Dec 31, 2024
Adverum Q4 2024 Earnings Report
Adverum reported a larger net loss as it ramped up R&D and G&A spending ahead of Phase 3 trials.
Key Takeaways
Adverum Biotechnologies posted no revenue for Q4 2024 and widened its net loss due to increased expenses preparing for pivotal trials of Ixo-vec.
Reported a net loss of $40.9 million for Q4 2024 with no revenue generated.
EPS stood at $(1.96), reflecting intensified investment in clinical programs.
R&D expenses increased to $24.1 million, driven by material and personnel costs.
Company launched ARTEMIS, its first pivotal Phase 3 trial for Ixo-vec in wet AMD.
Adverum
Adverum
Forward Guidance
Adverum expects its cash reserves to fund operations into the second half of 2025 and is advancing its clinical pipeline with key trials and data readouts.
Positive Outlook
- Initiated ARTEMIS Phase 3 trial for Ixo-vec.
- Global AQUARIUS Phase 3 trial expected to launch in 2H 2025.
- Strong LUNA and OPTIC data reinforce Ixo-vec efficacy and durability.
- Cash runway extended into 2H 2025.
- Regulatory designations (Fast Track, RMAT, PRIME) support clinical strategy.
Challenges Ahead
- No revenue generated in the quarter.
- Net loss widened significantly year over year.
- Higher R&D and G&A expenses increased burn rate.
- Still reliant on future trial milestones for commercial validation.
- Guidance lacks near-term revenue inflection points.