We are investigating Adverum Biotechnologies, Inc. (ADVM) (“Adverum” or the “Company”) for potential violations of the federal securities laws.
On September 12, 2019, Adverum issued a press release announcing clinical data from the OPTIC Phase 1 clinical trial of the Company’s product ADVM-022 as a treatment for wet age-related macular degeneration. Among other data, Adverum disclosed that patients taking ADVM-022 suffered significant deterioration in their sight. On this news, Adverum’s stock price fell $6.04 per share, or 50.33%, to close at $5.96 per share on September 12, 2019.