Adverum Biotechnologies reports Q3 EPS ($1.30), consensus ($1.31)

Reports Q3 revenue $1,000, consensus $100,000. “We remain laser focused on initiating our Phase 3 program and progressing Ixo-vec toward approval and commercialization,” stated Laurent Fischer, president and chief executive officer of Adverum Biotechnologies (ADVM). “Over the past year we’ve presented LUNA clinical data supporting what I believe to be the best-in-class product candidate for wet AMD patients. These data echo, and even improve upon, Ixo-vec’s robust and durable efficacy and favorable long-term safety profile, which have been demonstrated out to 3 years. Later this quarter we look forward to presenting the LUNA 52-week data alongside the 4-year OPTIC data. We are closing in on our goal to bring a potentially transformational gene therapy to wet AMD patients, who suffer from a life-long disease that, even with the best available agents, requires frequent injections into the eye.”