NASDAQ$ADVM
Adverum Biotechnologies Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Adverum Biotechnologies reported financial results for the third quarter ended September 30, 2022, and dosed the first subject in its Phase 2 LUNA trial with Ixo-vec.
Adverum Biotechnologies reported a net loss of $40.1 million for the third quarter of 2022. The company's cash, cash equivalents, and short-term investments were $203.3 million as of September 30, 2022, which is expected to fund operations into 2025. The first subject was dosed in the Phase 2 LUNA trial with Ixo-vec.
- Dosed first subject in Phase 2 LUNA trial with Ixo-vec and anticipate preliminary data throughout 2023.
- Cash runway into 2025 prioritizing Ixo-vec clinical development in wet AMD.
- Presented two-year data from OPTIC trial, indicating a single IVT injection of Ixo-vec was generally well tolerated and can maintain or improve vision.
- Data demonstrated that a single intravitreal injection of Ixo-vec can lead to stable and persistent aflibercept protein levels through three years.
Headline financials
Revenue & EPS history
Adverum · Revenue · Quarterly
$0
Forward guidance
Adverum expects the September 30, 2022 cash position to fund operations into 2025 and anticipates preliminary data from the LUNA trial throughout 2023.
Tailwinds
- Cash runway into 2025.
- Advancing Phase 2 LUNA trial of Ixo-vec in wet AMD.
- Ixo-vec has the potential to transform the treatment paradigm for patients with wet age-related macular degeneration.
- Ixo-vec can meaningfully reduce the burden of frequent anti-VEGF injections.
- Data demonstrating that a single intravitreal injection of Ixo-vec can lead to stable and persistent aflibercept protein levels through three years.
Headwinds
- Novel technology makes it difficult to predict the timing of commencement and completion of clinical trials
- Regulatory uncertainties
- Enrollment uncertainties
- The results of early clinical trials not always being predictive of future clinical trials and results
- Potential for future complications or side effects in connection with use of Ixo-vec
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2022
+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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