Stock Alert: Adverum Biotechnologies (ADVM)

(RTTNews) - Adverum Biotechnologies, Inc.'s (ADVM) new interim clinical data from Phase 1 dose-ranging clinical trial of ADVM-022 intravitreal injection gene therapy for wet age-related macular degeneration, dubbed OPTIC, has demonstrated robust efficacy with evidence of a dose response.

The data reported are from patients in cohort 2 at 24 weeks following treatment with a single intravitreal injection of a three-fold lower dose of ADVM-022 compared to the cohort 1 dose (6 x 10^11 vg/eye).

In both cohorts combined, 10 of 12 patients remain rescue-injection-free, and for these patients, vision was generally maintained as demonstrated by stable mean best corrected visual acuity (BCVA) compared to baseline, according to the Company.

The OPTIC trial is ongoing, and the first patient in the third cohort was dosed in October 2019 - with enrollment in cohort 4 planned for this quarter.

The Company expects to present clinical data from all four cohorts of OPTIC during this year.

ADVM is currently trading at $13.17, up 28.61%.