REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Adverum Biotechnologies Inc. (ADVM) on Monday reported a loss of $27.1 million in its third quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of $1.30.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.20 per share.
The gene therapy company posted revenue of $1 million in the period.
Adverum Biotechnologies shares have climbed slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.54, a drop of 22% 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
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