Adverum Biotechnologies

Adverum is urging shareholders to accept Eli Lilly’s takeover offer by December 8, 2025. Lilly is offering $3.56 per share in cash plus a non-transferable earn‑out right that can provide additional payments of up to $8.91 depending on milestones. Adverum is under significant liquidity pressure (Current Ratio 0.65, EBITDA -$186.22 million) and has already received a $40 million promissory note from Lilly; a further $25 million is scheduled for December 5. The board views the offer as the best alternative to imminent liquidation, but the takeover requires the tendering of a majority of shares and customary closing conditions. » Altro su de.investing.com

Adverum plans to complete patient enrollment for the approval‑relevant phase‑3 ARTEMIS trial earlier than planned and now expects full enrollment in Q4 2025 instead of Q1 2026. Due to the accelerated recruitment, the company is targeting publication of topline results in Q1 2027. The study is testing Ixo‑vec as a one‑time intravitreal treatment versus aflibercept; Ixo‑vec has received multiple regulatory acceleration designations. Financials continue to show high cash burn and a negative adjusted EBITDA of −$172 million; analyst price targets range from $3 to $33, and Mizuho cut its target to $12 while maintaining an Outperform rating. » Altro su de.investing.com