Adverum Biotechnologies, Inc. is the latest gene therapy player to feel the financial pinch but the US firm hopes a major restructuring will safeguard funds to advance its one-time wet age-related macular degeneration (AMD) treatment.
The California-based biotech has unveiled restructuring measures which CEO Laurent Fischer said were “intended to enable us to fully support our ADVM-022 development plan and extend our expected cash runway by approximately one year into 2025