Adverum Biotechnologies Announces Closing of $150 Million Public Offering of Common Stock

REDWOOD CITY, Calif., Feb. 14, 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 the closing of its previously announced underwritten public offering of 10,925,000 shares of its common stock at a public offering price of $13.75 per share, which included the full exercise of the underwriters’ option to purchase up to an additional 1,425,000 shares of common stock. The gross proceeds to Adverum before deducting underwriting discounts and commissions and offering expenses payable by Adverum were approximately $150.2 million.

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