Adverum Biotechnologies, Inc. (ADVM)
NASDAQ (CM) NASDAQ (CM) Primary Summary
Adverum Biotechnologies (ADVM) Reports Q3 Loss, Tops Revenue Estimates
Adverum Biotechnologies (ADVM) came out with a quarterly loss of $1.30 per share versus the Zacks Consensus Estimate of a loss of $1.20. This compares to loss of $3.30 per share a year ago.
Adverum Biotechnologies (ADVM) Upgraded to Strong Buy: What Does It Mean for the Stock?
Adverum Biotechnologies (ADVM) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Wall Street Analysts See a 332.28% Upside in Adverum Biotechnologies (ADVM): Can the Stock Really Move This High?
The average of price targets set by Wall Street analysts indicates a potential upside of 332.3% in Adverum Biotechnologies (ADVM). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
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Adverum Biotechnologies, Inc. Profile
| Biotechnology Industry | Healthcare Sector | Laurent Fischer CEO | NASDAQ (CM) Exchange | 00773U207 CUSIP |
| US Country | 155 Employees | - Last Dividend | 21 Mar 2024 Last Split | 31 Jul 2014 IPO Date |
Overview
Adverum Biotechnologies, Inc. is a clinical-stage biotechnology firm focused on the development of gene therapy product candidates for the treatment of ocular diseases. Originating in 2006 and previously known as Avalanche Biotechnologies, Inc., the company underwent a name change to Adverum Biotechnologies, Inc. in May 2016, marking a pivotal point in its history. The corporate headquarters of Adverum is located in Redwood City, California, positioning it within a hub of biotechnological innovation. Through strategic partnerships and license agreements with prestigious institutions and companies like the University of California, GenSight Biologics, Lexeo Therapeutics, and Virovek, Inc., Adverum Biotechnologies is advancing its mission to deliver transformative gene therapies to patients suffering from severe ocular diseases.
Products and Services
- Ixoberogene Soroparvovec (ADVM-022):
This flagship product candidate represents a pioneering approach in the treatment of wet age-related macular degeneration (AMD) and diabetic macular edema. By leveraging a single intravitreal (IVT) injection gene therapy platform, Adverum aims to provide long-term benefits for patients with these chronic eye diseases, currently in phase 2 clinical trials. This novel therapy has the potential to revolutionize the management of wet AMD and diabetic macular edema by reducing the burden of frequent treatments and offering sustained efficacy.
- ADVM-062 (AAV.7m8-L-opsin):
A cutting-edge gene therapy candidate, ADVM-062, is in development for the treatment of blue cone monochromacy—a rare genetic condition affecting vision. By utilizing a single IVT injection, this product aims to address the genetic root of the disease, offering a targeted and innovative therapeutic option for those affected by this incurable eye condition. Through this endeavor, Adverum Biotechnologies is expanding its portfolio to include treatments for less common but equally challenging ocular diseases.
