LOS ANGELES, CA / ACCESSWIRE / February 26, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Adverum Biotechnologies, Inc. ("Adverum" or "the Company") (NASDAQ:ADVM) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Adverum issued a press release detailing clinical data from the OPTIC Phase 1 clinical trial of the Company's product ADVM-022 for the treatment for wet age-related macular degeneration on September 12, 2019. As part of this release, the Company admitted that patients taking ADVM-022 suffered a significant loss of vision. Based on this news, shares of Adverum fell by 50% on the same day.
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SOURCE: The Schall Law Firm