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Adverum Biotechnologies: 4Q Earnings Snapshot

REDWOOD CITY, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Thursday reported a loss of $18.9 million in its fourth quarter.

The Redwood City, California-based company said it had a loss of 29 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.

For the year, the company reported that its loss narrowed to $64.4 million, or $1.01 per share. Revenue was reported as $250,000.

Adverum Biotechnologies shares have dropped 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.98, an increase of 65% 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