From GlobeNewswire: 2025-04-15 07:40:00

Adverum Biotechnologies, Inc. reported financial results for Q4 and full year 2024, highlighting the potential of Ixo-vec gene therapy for wet AMD. The company initiated the first pivotal trial, ARTEMIS, to evaluate Ixo-vec in patients with wet AMD. Results from Phase 2 LUNA trial and OPTIC 4-year trial support the efficacy and safety of Ixo-vec. Upcoming milestones include initiating the global AQUARIUS Phase 3 trial in 2H 2025 and presenting Phase 2 LUNA two-year long-term follow-up data in 4Q 2025. The company expects its cash reserves to fund operations into the second half of 2025.

Adverum Biotechnologies is developing Ixo-vec gene therapy for wet AMD to potentially redefine treatment standards as a one-time IVT injection. The FDA granted Fast Track and RMAT designations for Ixo-vec. Adverum aims to establish gene therapy as a new standard of care for ocular diseases. The company’s financial results for Q4 2024 showed cash, cash equivalents, and short-term investments of $125.7 million. Research and development expenses increased due to preparation for Phase 3 clinical trials, while general and administrative expenses rose due to non-cash tenant improvement allowance and higher consultant fees. Net loss for Q4 2024 was $40.9 million.



Read more at GlobeNewswire: Adverum Biotechnologies Reports Fourth Quarter and Full