Adverum Biotechnologies granted stock options and RSUs to new employees as part of its 2017 Inducement Plan.
Quiver AI Summary
Adverum Biotechnologies, Inc. announced that its Compensation Committee granted inducement awards to seven new employees, including non-qualified stock options for 32,620 shares of common stock and restricted stock units (RSUs) for 16,310 shares as part of the company's 2017 Inducement Plan. The stock options have an exercise price of $3.33 per share and will vest over four years, while the RSUs will vest over three years, both contingent on continued employment. Adverum, a clinical-stage gene therapy company, focuses on developing innovative treatments for ocular diseases to preserve vision and prevent blindness, particularly through its lead candidate, ixoberogene soroparvovec, aimed at treating neovascular age-related macular degeneration.
Potential Positives
- Adverum Biotechnologies granted inducement awards to seven new employees, indicating growth and investment in talent acquisition.
- The compensation structure, including stock options and restricted stock units, aligns employee interests with company performance and long-term success.
- The company's focus on gene therapy for ocular diseases highlights its dedication to innovation and potential impact in a significant healthcare market.
- Adverum's novel gene therapy candidate, Ixo-vec, addresses major challenges in treating ocular diseases, positioning the company as a key player in transforming standard care.
Potential Negatives
- The press release highlights the issuance of stock options and restricted stock units to new employees, which could raise concerns about shareholder dilution and excessive compensation if the company's stock performance does not align with growth.
- The need for inducement awards may signal challenges in attracting talent, potentially indicating underlying issues in the company's culture or competitive positioning in the biotech sector.
- As a clinical-stage company, the reliance on new employees may raise concerns about operational risks and the ability to execute its gene therapy programs effectively.
FAQ
What stock options were granted by Adverum Biotechnologies?
Adverum granted 32,620 stock options and 16,310 restricted stock units (RSUs) to seven new employees.
What is the exercise price of the stock options?
The exercise price for the stock options is $3.33 per share, matching the closing price on the grant date.
How long do the stock options and RSUs vest?
The stock options vest over four years, while the RSUs vest over three years, both contingent on continuous employment.
What is the purpose of the inducement awards?
The inducement awards are a recruitment incentive tied to Nasdaq Listing Rule 5635(c)(4) for new employees at Adverum.
What is Adverum Biotechnologies' main focus?
Adverum focuses on developing gene therapies to preserve sight and treat prevalent ocular diseases through innovative treatments.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ADVM Insider Trading Activity
$ADVM insiders have traded $ADVM stock on the open market 15 times in the past 6 months. Of those trades, 15 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $ADVM stock by insiders over the last 6 months:
- BRADEN MICHAEL LEONARD has made 15 purchases buying 913,472 shares for an estimated $3,600,548 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ADVM Hedge Fund Activity
We have seen 35 institutional investors add shares of $ADVM stock to their portfolio, and 26 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VR ADVISER, LLC removed 1,467,048 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,851,114
- VIVO CAPITAL, LLC removed 833,333 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $3,891,665
- LOGOS GLOBAL MANAGEMENT LP removed 416,666 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,945,830
- PRINCIPIA WEALTH ADVISORY, LLC added 366,155 shares (+27.5%) to their portfolio in Q1 2025, for an estimated $1,600,097
- TCG CROSSOVER MANAGEMENT, LLC removed 211,857 shares (-10.5%) from their portfolio in Q4 2024, for an estimated $989,372
- FMR LLC removed 176,815 shares (-75.3%) from their portfolio in Q4 2024, for an estimated $825,726
- CITADEL ADVISORS LLC added 125,537 shares (+533.4%) to their portfolio in Q4 2024, for an estimated $586,257
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$ADVM Analyst Ratings
Wall Street analysts have issued reports on $ADVM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- H.C. Wainwright issued a "Buy" rating on 11/05/2024
To track analyst ratings and price targets for $ADVM, check out Quiver Quantitative's $ADVM forecast page.
Full Release
REDWOOD CITY, Calif., May 02, 2025 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM) today announced that the Compensation Committee of Adverum’s Board of Directors granted inducement awards consisting of non-qualified stock options to purchase 32,620 shares of common stock and restricted stock units (RSUs) for 16,310 shares of common stock to seven new employees under Adverum’s 2017 Inducement Plan. These awards were approved as an inducement material to the new employees entering into employment with Adverum in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price of $3.33 per share, equal to the per share closing price of Adverum’s common stock as reported by Nasdaq on the grant date of May 1, 2025. The stock options vest over four years, with 25% vesting on the first anniversary of the applicable vesting commencement date and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Adverum through the applicable vesting dates. The restricted stock units vest over three years, with one third (1/3 rd ) vesting on each anniversary of the applicable vesting commencement date, subject to the employee being continuously employed by Adverum through the applicable vesting dates. The awards are subject to the terms and conditions of Adverum’s 2017 Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.
About Adverum Biotechnologies
Adverum Biotechnologies (NASDAQ: ADVM) is a clinical-stage company that aims to establish gene therapy to preserve sight for life in highly prevalent ocular diseases with the aspirations of developing functional cures to restore vision and prevent blindness. Leveraging the capabilities of its proprietary intravitreal (IVT) platform, Adverum is developing durable, single-administration therapies, designed to be delivered in physicians’ offices, to eliminate the need for frequent ocular injections to treat these diseases. Adverum is evaluating its novel gene therapy candidate, ixoberogene soroparvovec (Ixo-vec, formerly referred to as ADVM-022), as a one-time, IVT injection for patients with neovascular or wet age-related macular degeneration. Additionally, by overcoming the challenges associated with current treatment paradigms for debilitating ocular diseases, Adverum aspires to transform the standard of care, preserve vision, and create a profound societal impact around the globe. For more information, please visit www.adverum.com .
Corporate and Investor Inquiries:
Adverum Investor Relations
Email: [email protected]
Media:
Jason Awe, Ph.D.
Executive Director, Corporate Communications
Email:
[email protected]
