Why Is Eye Disease-Focused Adverum Bio Stock Trading Higher Today?

Adverum Biotechnologies Inc ADVM revealed updated data from the OPTIC extension study of ixoberogene soroparvovec (Ixo-vec, formerly referred to as ADVM-022) in patients with wet AMD during the Retina Subspecialty Day at the American Academy of Ophthalmology 2023 Annual Meeting.

In the study, patients in the OPTIC extension trial continue to experience long-term benefit from Ixo-vec through 3 years of follow-up, including maintenance of vision, durability of anatomical improvements, and sustained reduction in anti-VEGF treatment burden.

Patients at the 2E11 dose had an 84% reduction in annualized anti-VEGF injections, with 53% of the participants at the 2E11 dose receiving no supplemental injections through three years.

Regeneron Pharmaceutical Inc's REGN Eyela (aflibercept) protein levels have been sustained through follow-up, up to 4.5 years post-treatment.

BCVA was maintained, and CST was improved through 3 years.

Ixo-vec was generally well tolerated with dose-dependent inflammation responsive to topical steroids.

Aflibercept protein data suggest Ixo-vec at the 2E11 and 6E10 doses deliver similar levels of aflibercept within the therapeutically active range based on OPTIC and non-human primate data.

Price Action: ADVM shares are up 16.5% at $1.09 on the last check Monday.