Here's Why Adverum Biotechnologies Is Soaring Today
Shares of Adverum Biotechnologies (NASDAQ: ADVM), a clinical-stage gene therapy company, jumped today in response to some compelling clinical trial results. Positive interim data from a study with the company's lead candidate, ADVM-022, has lifted the stock 12.2% as of 12:34 p.m. EDT on Wednesday.
Adverum has been treating patients who require frequent anti-VEGF injections to slow the progression of wet age-related macular degeneration (AMD) with different sized doses of its lead candidate ADVM-022. A single injection of ADVM-022 at the lowest dose tested helped four out of six patients go for a median of 36 weeks without requiring rescue injections. The same dose helped four out of five patients with a 20-week followup avoid rescue injections.
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Source Fool.com