REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Adverum Biotechnologies Inc. (ADVM) on Tuesday reported a loss of $49.2 million in its second quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of $2.34.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $2.24 per share.
The company’s shares closed at $2.34. A year ago, they were trading at $6.92.
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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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