Adverum Outlines Development Plan For ADVM-022 Gene Therapy In Wet AMD

Adverum Biotechnologies Inc (NASDAQ:ADVM) plans to conduct a Phase 2 trial of ADVM-022 in wet AMD at 2 X 10^11 vg/eye dose and a new lower 6 X 10^10 vg/eye dose, with three new enhanced steroid prophylaxis regimens in wet age-related macular degeneration (wet AMD).

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The enhanced steroid prophylaxis regimens include topical, intravitreal (IVT), and a combination of systemic and local steroids.
The trial is expected to enroll approximately 72 patients and evaluate similar endpoints to the Phase 1 OPTIC trial in wet AMD.
Related: Adverum's Single-Dose Wet AMD Gene Therapy Shows Robust Two Year Durability, Safety.
Adverum plans to file an investigational new drug (IND) amendment in 1H of 2022.
The Company has begun preparing for the Phase 2 trial of ADVM-022 in wet AMD to initiate dosing in Q3 of 2022 and complete enrollment by the end of 2022.
At the end of Q3, the Company held cash, cash equivalents, and short-term investments of $332.7 million. Adverum expects this quarter-end cash position to fund operations into 2024.
Price Action: ADVM shares are up 0.27% at $1.87 during the market session on the last check Tuesday.

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