Benzinga | Aug 11, 2020 04:05PM EDT

Adverum Biotechnologies Announces $200M Public Offering Of Common Stock

REDWOOD CITY, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that it has commenced an underwritten public offering of $200 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering will be sold by Adverum Biotechnologies. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.