Adverum Biotechnologies Announces Pricing of $60 Million Public Offering of Common Stock

Adverum Biotechnologies, (Nasdaq:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases, today announced the pricing of an underwritten public offering of 8,888,900 shares of its common stock at a price to the public of $6.75 per share.

As quoted in the press release:

The offering is expected to close on or about February 9, 2018, subject to customary closing conditions. In addition, Adverum Biotechnologies has granted the underwriters a 30-day option to purchase up to an additional 1,333,335 shares of its common stock on the same terms and conditions.

Cowen and Piper Jaffray & Co. are acting as joint book-running managers for the offering.  Raymond James & Associates, Inc. is acting as lead manager.

Click here to read the full press release.