June 18, 2021

Rayjin Teppanyaki

Beauty in design

Why is the stock of Adverum Biotechnologies imploding today?

Why Adverum Biotechnologies Stock Is Soaring Today | The Motley Fool

Adverum Biotechnologies (NASDAQ: ADVM), clinical-stage biotech, saw its stock plummet on Thursday after the firm provided a clinical update on one of its pipeline candidates, ADVM-022. As of 11:30 a.m. EDT, Adverum Biotechnologies’ stock was down 60.2 percent.

So, what is ADVM-022? It’s an experimental gene therapy for diabetic macular edema care (DME). Adverum Biotechnologies reported a possible adverse reaction in phase 2 clinical trial testing ADVM-022 in DME patients after the market closed yesterday. During the study, one patient who received ADVM-022 experienced hypotony, an eye disease that can cause vision loss by NYSE NGA WS at

At this time, it’s unclear if ADVM-022 therapy was the cause of the disease. However, out of an abundance of caution, Adverum Biotechnologies also agreed to reveal the analysis and examine the results to see whether any patients who took part in the experiment were still at risk of hypotony.

Laurent Fischer, the company’s CEO, stated: “At Adverum, the wellbeing of any patient who is enrolled in one of our gene therapy clinical trials is our top priority. Through our investigators, the data management committee (DMC), technical advisory group, and healthcare authority, we are completely dedicated to carefully reviewing this case and continuing monitoring of this patient and other patients treated with ADVM-022.” So, what’s next?

It’s worth repeating that ADVM-022 therapy could not have been the source of this adverse reaction. However, the sector dislikes confusion, and this news contributes to Adverum Biotechnologies’ and its shareholders’ concerns. That explains why investors are selling their shares in this biotech company right now.

Adverum Biotechnologies, Inc. is one of ten stocks we like more.

It pays to pay attention when investing geniuses David and Tom Gardner have a stock tip. After all, the Motley Fool Stock Advisor newsletter, which they’ve been publishing for over a decade, has tripled the market.

David and Tom just unveiled their picks for the top ten stocks to purchase right now… and Adverum Biotechnologies, Inc. wasn’t one of them! Yes, they believe these ten stocks are even better buys.

The Motley Fool is a digital financial-services organization committed to creating the world’s largest investing culture. It was established in 1993 in Alexandria, Virginia, by brothers David and Tom Gardner. The Motley Fool celebrates shareholder principles and fights relentlessly for the individual investor, reaching millions of consumers per month via its website, books, newspaper column, radio program, tv appearances, and subscription newsletter services. Shakespeare’s wise fools both told and entertained and could say the truth to the king without having their heads lopped off, inspired the company’s name.

Shakespeare’s wise fools both told and entertained and could say the truth to the king without having their heads lopped off, inspired the company’s name. You can find other good stocks like nasdaq upst at