Adverum Biotechnologies: 2Q Earnings Snapshot
Aug. 08, 2018
MENLO PARK, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Wednesday reported a loss of $18.8 million in its second quarter.
On a per-share basis, the Menlo Park, California-based company said it had a loss of 30 cents.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The gene therapy company posted revenue of $493,000 in the period.
In the final minutes of trading on Wednesday, the company's shares hit $4.75. A year ago, they were trading at $2.53.