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Adverum Biotechnologies: 4Q Earnings Snapshot

Associated Press
Updated ·1-min read

REDWOOD CITY, Calif. (AP) _ Adverum Biotechnologies Inc. (ADVM) on Monday reported a loss of $37.6 million in its fourth quarter.

The Redwood City, California-based company said it had a loss of 39 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.

For the year, the company reported that its loss widened to $117.5 million, or $1.38 per share.

Adverum Biotechnologies shares have risen 23% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.32, a rise of nearly 7% in the last 12 months.

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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