U.S. Markets closed

Adverum Biotechnologies posts 4Q loss

MENLO PARK, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Monday reported a loss of $22.4 million in its fourth quarter.

The Menlo Park, California-based company said it had a loss of 54 cents per share. Losses, adjusted for asset impairment costs, came to 27 cents per share.

The gene therapy company posted revenue of $488,000 in the period.

For the year, the company reported that its loss widened to $113.7 million, or $3.14 per share. Revenue was reported as $1.5 million.

The company's shares closed at $2.85. A year ago, they were trading at $5.36.

_____

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

_____

Keywords: Adverum Biotechnologies, Earnings Report