Adverum Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
19 January 2023 - 8:05AM
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 January 17, 2023,
Adverum granted a new employee a stock option to purchase 150,000
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 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 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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