Why Adverum Biotechnologies Stock Sank in May
Shares of developmental gene therapy company Adverum Biotechnologies (NASDAQ: ADVM) sank by 11.3% during the month of May, according to data provided by S&P Global Market Intelligence. The biotech's poor showing last month is the result of two interrelated events:
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This clinical setback could prove even more costly to Adverum and its shareholders down the road. In short, this experimental gene therapy was on track to become a game changer in a market currently valued at over $10 billion a year.
Source Fool.com