Adverum Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
07 December 2022 - 08:05AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage
company that aims to establish gene therapy as a new standard of
care for highly prevalent ocular diseases, announced a grant of
stock options to a new employee. On December 1, 2022, Adverum
granted a new employee a stock option to purchase 200,000 shares of
Adverum’s common stock pursuant to the inducement grant exception
under Nasdaq Rule 5635(c)(4), as an inducement that is material to
the employee entering into employment with Adverum. The option has
a per share exercise price equal to the closing sales price of
Adverum’s common stock on the Nasdaq Stock Market on the grant
date, and will vest over four years, subject to the employee’s
continued service with Adverum.
About Adverum Biotechnologies
Adverum Biotechnologies (NASDAQ: ADVM) is a clinical-stage
company that aims to establish gene therapy as a new standard of
care for highly prevalent ocular diseases with the aspiration of
developing functional cures for these diseases to restore vision
and prevent blindness. Leveraging the research capabilities of its
proprietary, intravitreal (IVT) platform, Adverum is developing
durable, single-administration therapies, designed to be delivered
in physicians’ offices, to eliminate the need for frequent ocular
injections to treat these diseases. Adverum is evaluating its novel
gene therapy candidate, ixoberogene soroparvovec (Ixo-vec, formerly
referred to as ADVM-022), as a one-time, IVT injection for patients
with neovascular or wet age-related macular degeneration. By
overcoming the challenges associated with current treatment
paradigms for these debilitating ocular diseases, Adverum aspires
to transform the standard of care, preserve vision, and create a
profound societal impact around the globe. For more information,
please visit www.adverum.com.
Corporate, Investor and Media Inquiries
Anand ReddiVice President, Head of Corporate Strategy, External
Affairs and EngagementAdverum Biotechnologies, Inc.T:
650-649-1358E: areddi@adverum.com
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