NASDAQ$ADVM
Adverum Biotechnologies Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Adverum Biotechnologies reported its Q3 2020 financial results and recent business progress.
Adverum Biotechnologies reported a net loss of $27.8 million for the third quarter ended September 30, 2020. The FDA removed the partial clinical hold on ADVM-022, and the company raised approximately $203.4 million in net proceeds from an underwritten public offering in August 2020.
- FDA removed partial clinical hold on ADVM-022.
- Planning to start a pivotal trial for ADVM-022 in wet AMD mid-2021.
- INFINITY Phase 2 trial for ADVM-022 enrolling patients with DME; Data expected 2H21.
- Raised approximately $203.4 million in net proceeds from an underwritten public offering in August 2020.
Headline financials
Revenue & EPS history
Adverum · Revenue · Quarterly
$0
Forward guidance
Adverum provided forward-looking statements regarding the potential of ADVM-022, clinical trial plans, and expectations for data presentation and regulatory interactions.
Tailwinds
- Potential for ADVM-022 in treating patients with wet AMD and DME.
- Expectations to present additional data from all four cohorts of the OPTIC Phase 1 trial for ADVM-022 in wet AMD in November 2020.
- Plans to advance ADVM-022 in wet AMD by initiating a pivotal trial mid-2021 and in DME by continuing to enroll patients in the INFINITY trial.
- Expectations to present data from the INFINITY trial in the second half of 2021.
- Expectations to accelerate its development, manufacturing, and commercial launch plans for ADVM-022.
Headwinds
- Novel technology makes it difficult to predict the time and cost of product candidate development and obtaining regulatory approval.
- Early clinical trials not always being predictive of future results.
- Potential for preliminary or interim results of clinical trials to change.
- Potential for future complications or side effects in connection with use of ADVM-022.
- Effects of the COVID-19 pandemic on the company’s operations and ongoing clinical trials.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports
+0.0%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-2.5%
Avg return
30 days after
45%
17 / 38 earnings
Positive
+12.5%
Q3 2022
Best reaction
-15.5%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -0.9% | -1.2% | — | |
| Q2 2025 | +10.8% | +27.9% | +41.4% | |
| Q1 2025 | -1.0% | +21.0% | +19.5% | |
| Q4 2024 | -5.8% | -15.4% | -41.0% | |
| Q3 2024 | +4.2% | +8.4% | -18.5% | |
| Q2 2024 | +3.0% | +4.7% | +7.3% | |
| Q1 2024 | -5.2% | -9.3% | -25.1% | |
| Q4 2023 | -2.9% | -5.3% | -33.1% | |
| Q3 2023 | +1.8% | -3.4% | +0.0% | |
| Q2 2023 | +2.2% | -3.8% | -7.1% | |
| Q1 2023 | -4.6% | -4.1% | +89.3% | |
| Q4 2022 | -4.5% | -6.7% | +3.6% | |
| Q3 2022 | +12.5% | +3.2% | -9.6% | |
| Q2 2022 | -4.5% | -8.6% | -25.0% | |
| Q1 2022 | -14.1% | -13.5% | +2.7% | |
| Q4 2021 | -2.9% | -5.8% | -20.3% | |
| Q3 2021 | -5.6% | -1.3% | -24.9% | |
| Q2 2021 | +6.9% | — | — | |
| Q1 2021 | +3.3% | — | — | |
| Q4 2020 | -5.3% | — | — | |
| Q3 2020 | -7.8% | — | — | |
| Q2 2020 | -15.5% | — | — | |
| Q1 2020 | -1.9% | — | — | |
| Q4 2019 | +11.6% | — | — | |
| Q3 2019 | +8.9% | — | — | |
| Q2 2019 | -1.3% | — | — | |
| Q1 2019 | -3.7% | — | — | |
| Q4 2018 | +2.8% | — | — | |
| Q3 2018 | +1.9% | — | — | |
| Q2 2018 | +10.9% | — | — | |
| Q1 2018 | +3.6% | — | — | |
| Q4 2017 | -4.1% | — | — | |
| Q3 2017 | -6.3% | — | — | |
| Q2 2017 | -2.0% | — | — | |
| Q1 2017 | -1.8% | — | — | |
| Q3 2016 | +11.9% | — | — | |
| Q2 2016 | +2.3% | — | — | |
| Q3 2014 | +4.5% | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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