Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Feb. 27, 2:31 PM
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Slide #25. Adverum Biotechnologies, Inc — Secondary Offering
Adverum Biotechnologies, Inc (NASDAQ:ADVM)
Secondary Offering Details:
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that it has commenced an underwritten public offering of $100 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering will be sold by Adverum Biotechnologies. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical need in ocular and rare diseases. Co. develops gene therapy product candidates designed to provide durable efficacy by inducing sustained expression of a therapeutic protein. Co.'s main capabilities include clinical development, vector discovery, and in-house manufacturing expertise, specifically in scalable process development, assay development, and current Good Manufacturing Practices quality control. Co. is conducting a clinical trial for its gene therapy candidate ADVM-022, AAV.7m8-aflibercept, for the treatment of wet age-related macular degeneration.
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Buy (3.33 out of 4)
(ranked higher than approx. 58% of all stocks covered)
Based on Zacks ABR data;
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