Adverum Biotech: Q3 Loss, Stock Drop, Future Uncertainty

Adverum Biotechnologies, based in Redwood City, California, reported a significant loss of $47.7 million for Q3, translating to a loss of $2.03 per share, falling short of analysts predictions of $1.80 per share. The companys stock price dropped from $7.89 a year ago to $4.30, reflecting investor concerns. This financial update highlights the challenges Adverum faces in the competitive biotech market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.