Adverum Biotechnologies, Inc. (ADVM) Monday announced positive topline 52-week data from the LUNA Phase 2 study of the company's gene therapy product candidate Ixo-vec for the treatment of wet AMD. The company also reported encouraging 4-year long-term follow-up data from OPTIC study. The company's shares were up more than 13 percent in pre-market.
In the ongoing LUNA study, wet AMD patients were randomized to receive either Ixo-vec dose of 6E10 or 2E11 vg/eye. LUNA is designed to inform the selection of both the Ixo-vec dose and prophylactic regimen for Phase 3 registrational trials. OPTIC is an ongoing long-term study, in which patients received 2E11 or 6E11 doses of Ixo-vec.
"Both OPTIC 2E11 results and LUNA efficacy data at 52 weeks show maintenance of visual and anatomic endpoints with over 80% reduction in injection burden and greater than 50% injection freedom," said Laurent Fischer, president and chief executive officer of Adverum Biotechnologies.
The company plans to initiate a Phase 3 study of 6E10 dose of Ixo-vec in the first half of 2025.
Adverum stock had closed at $6.86, down 5.38 percent on Friday. It has traded in the range of $6.38 - $29.70 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.