Adverum Biotechnologies Inc (OQ:ADVM)
Business Focus: Bio Therapeutic Drugs
| Sector: Healthcare | Industry: Biotechnology & Medical Research |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 100 Cardinal Way REDWOOD CITY CA 94063 |
| Tel: | N/A |
| Website: | https://adverum.com |
| IR: | See website |
| Key People | ||
| Laurent Fischer President, Chief Executive Officer, Director | Linda M. Rubinstein Chief Financial Officer | Kishor Peter Soparkar Chief Operating Officer |
| Andrew Ramelmeier Chief Technology Officer | Romuald Corbau Chief Scientific Officer | Brigit Riley Chief Scientific Officer |
| John Rakow General Counsel | Setareh Seyedkazemi Chief Development Officer | |
| Business Overview |
| Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company. The Company discovers and develops gene therapy product candidates that provides durable efficacy by inducing sustained expression of a therapeutic protein. Its lead product candidate, ixoberogene soroparvovec (Ixo-vec), is a single, in-office intravitreal (IVT) injection gene therapy product designed to deliver long-term durable levels of aflibercept associated with a sustained treatment response, reducing the treatment burden and fluctuations in macular fluid associated with frequent anti-vascular endothelial growth factor (VEGF) IVT injections. Ixo-vec is being developed for the treatment of patients with wet age-related macular degeneration. Its second product candidate, ADVM-062 (AAV.7m8-L-opsin), is a gene therapy product candidate being developed to treat patients suffering from blue cone monochromacy (BCM) via a single IVT injection. It also developing an early-stage pipeline of gene therapy programs. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Adverum Biotechnologies Inc revenues increased from $0K to $3.6M. Net loss decreased 24% to $117.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Research and development -gross decrease of 21% to $72.7M (expense), General and administrative - Balancing decrease of 13% to $37.1M (expense), Other income (expense). |
| Employees: | 121 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $98.36M as of Dec 31, 2023 |
| Annual revenue (TTM): | $3.60M as of Dec 31, 2023 |
| EBITDA (TTM): | -$118.15M as of Dec 31, 2023 |
| Net annual income (TTM): | -$117.17M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$91.71M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 20,754,915 as of Mar 21, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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