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Adverum Biotechnologies: 3Q Earnings Snapshot

MENLO PARK, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Thursday reported a loss of $16.1 million in its third quarter.

On a per-share basis, the Menlo Park, California-based company said it had a loss of 25 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

The gene therapy company posted revenue of $250,000 in the period.

Adverum Biotechnologies shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.14, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADVM at https://www.zacks.com/ap/ADVM