Adverum Biotechnologies Inc. (NASDAQ: (ADVM) stock surged by 0.46% at last close while the ADVM stock-price gains by 18.35% in the after-hours trading session. Adverum Biotechnologies is a gene therapy business in the clinical stage that focuses on unmet medical needs in severe ophthalmic and uncommon illnesses.
ADVM stock’ Significant Development
Adverum Biotechnologies has released additional long-term results from the OPTIC clinical trial of ADVM-022, a single, in-office intravitreal (IVT) injection gene treatment for people with neovascular or wet age-related macular degeneration who require frequent anti-VEGF injections (wet AMD). At the Retina Society’s 54th Annual Scientific Meeting in Chicago, Illinois, safety and effectiveness data from patients tracked for two years after injection will be presented. The presentation may be seen on Adverum’s website’s Publications page under the Pipeline section.
Laurent Fischer, president, and CEO at Adverum Biotechnologies stated,
All statistics from patients who received ADVM-022 in the OPTIC and INFINITY studies in diabetic macular edoema are still being reviewed. On October 9 at the American Society of Retina Specialists Annual Scientific Meeting, they’ll share results from the latter, accompanied by an encore presentation of OPTIC data on October 11. They’re excited to finish evaluating the results from their ADVM-022 program and meet with investigators and regulators to discuss their plans for wet AMD. A Phase 2 study will be conducted to assess dosages of ADVM-022 of 2 x 1011 and lower with improved prophylaxis. As they prepare to offer this innovative medication to patients, they want to improve the safety profile of ADVM-022.
Important Findings
- Patients who normally require frequent anti-VEGF injections had their annualized anti-VEGF treatment frequency reduced by more than 80%.
- After a median follow-up of 1.7 years, >50 percent of patients (8/152) were still free of any supplementary anti-VEGF injection.
- After a single injection of ADVM-022, robust aflibercept expression levels are maintained for up to two years.
- Over time, vision (mean BCVA3 vs. baseline) was maintained.
- The retinal anatomy (mean CST4 vs. baseline) remained stable.
