Home / Going-concern warnings / Adverum Biotechnologies, Inc.

3/5Adverum Biotechnologies, Inc. (ADVM): Going-concern doubt

Filed 2025-05-14 · Form 10-Q · Accession 0001628280-25-025492 nano

Market data

Price before filing: $2.22 (2025-05-13 close, split/dividend-adjusted)
Market cap at flag: $43.1M (2025-05-14) · Latest: $102.4M (2025-12-09)

What happened next

Window	ADVM	SPY	vs SPY
30 days	+10.8%	+1.7%	+9.1%	2025-06-13
90 days	+11.3%	+9.8%	+1.4%	2025-08-12
180 days	+92.8%	+16.8%	+76.0%	2025-11-10

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: 1 insider bought $3.4M (13 purchases)
30 days after: 3 insiders sold $26K (3 sales)

Date	Insider	Type	Shares	Price	Value	10b5-1 plan	Source
2025-02-26	Leonard Braden Michael 10% owner	Purchase	164,886	$4.01	$661K	no	Form 4
2025-02-27	Leonard Braden Michael 10% owner	Purchase	86,802	$4.46	$387K	no	Form 4
2025-02-28	Leonard Braden Michael 10% owner	Purchase	85,068	$4.60	$391K	no	Form 4
2025-03-18	Leonard Braden Michael 10% owner	Purchase	18,000	$4.60	$83K	no	Form 4
2025-03-18	Leonard Braden Michael 10% owner	Purchase	44,341	$4.73	$210K	no	Form 4
2025-03-19	Leonard Braden Michael 10% owner	Purchase	25,000	$4.94	$123K	no	Form 4
2025-03-20	Leonard Braden Michael 10% owner	Purchase	30,600	$5.61	$172K	no	Form 4
2025-03-26	Leonard Braden Michael 10% owner	Purchase	20,407	$5.04	$103K	no	Form 4/A
2025-03-27	Leonard Braden Michael 10% owner	Purchase	16,593	$5.19	$86K	no	Form 4/A
2025-03-31	Leonard Braden Michael 10% owner	Purchase	19,566	$4.38	$86K	no	Form 4
2025-04-02	Leonard Braden Michael 10% owner	Purchase	15,209	$4.04	$61K	no	Form 4
2025-04-22	Leonard Braden Michael 10% owner	Purchase	300,000	$3.00	$900K	no	Form 4
2025-04-23	Leonard Braden Michael 10% owner	Purchase	50,000	$2.98	$149K	no	Form 4
2025-05-14: red flag filed
2025-05-15	Fischer Laurent CEO, PRESIDENT AND DIRECTOR, Director	Sale	9,126	$2.00	$18K	no	Form 4
2025-05-15	Seyedkazemi Setareh CHIEF DEVELOPMENT OFFICER	Sale	924	$2.00	$2K	no	Form 4
2025-05-15	Soparkar Peter CHIEF OPERATING OFFICER	Sale	2,960	$2.00	$6K	no	Form 4

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-13 to 2025-06-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"Exhibits 72 SIGNATURES 73 2 Table of Contents RISK FACTORS SUMMARY Investing in common stock involves numerous risks, including the risks described in Part II, Item 1A "Risk Factors" of this Quarterly Report on Form 10-Q. Below are some of these risks, any one of which could materially adversely affect our business, financial condition, results of operations, and prospects. • There is substantial doubt regarding our..."

Quoted from the filing. Source

What this means

The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.

Source: management disclosure in Form 10-Q (period 2025-03-31)

Why this score: quarterly (unaudited) disclosure

Read the original filing on SEC.gov →