Home / Going-concern warnings / Adverum Biotechnologies, Inc.
Filed 2025-11-12 路 Form 10-Q 路 Accession 0001628280-25-051593 micro
Price before filing: $4.33 (2025-11-11 close, split/dividend-adjusted)
Market cap at flag: $101.0M (2025-11-12) 路 Latest: $102.4M (2025-12-09)
| Window | ADVM | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | n/a | n/a | n/a | no price after 2025-12-09 |
| 90 days | n/a | n/a | n/a | no price after 2025-12-09 |
| 180 days | n/a | n/a | n/a | no price after 2025-12-09 |
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.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 1 insider sold $4.6M (4 sales); 2 insiders bought $765K (3 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-11-12: red flag filed | |||||||
| 2025-12-01 | Leonard Braden Michael 10% owner | Sale | 300,000 | $4.20 | $1.3M | no | Form 4 |
| 2025-12-02 | Leonard Braden Michael 10% owner | Sale | 51,961 | $4.20 | $218K | no | Form 4 |
| 2025-12-03 | Leonard Braden Michael 10% owner | Sale | 222,925 | $4.17 | $930K | no | Form 4 |
| 2025-12-04 | Leonard Braden Michael 10% owner | Sale | 524,560 | $4.19 | $2.2M | no | Form 4 |
| 2025-12-05 | Fischer Laurent CEO, PRESIDENT AND DIRECTOR, Director | Purchase | 11,085 | $4.24 | $47K | no | Form 4 |
| 2025-12-05 | Soparkar Peter CHIEF OPERATING OFFICER | Purchase | 50,000 | $4.22 | $211K | no | Form 4 |
| 2025-12-08 | Fischer Laurent CEO, PRESIDENT AND DIRECTOR, Director | Purchase | 117,614 | $4.31 | $507K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-14 to 2025-12-12. 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.
"Based on our available cash resources and current operating plan, there is substantial doubt regarding our ability to continue as a going concern for a period of twelve months from the date the interim financial statements included in this Quarterly Report on Form 10-Q are issued."
Quoted from the filing. Source
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 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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