Gene therapy co Adverum falls on Nasdaq delisting notice

Adverum Biotechnologies

25/11/2022 15:41

** Shares of gene therapy developer Adverum Biotechnologies
Inc  ADVM.O  fall 4.9% to 69 cents 
    ** Co, in a regulatory filing, says it received delisting
notice from Nasdaq on Nov. 18 as it failed to meet the minimum
bid price requirement for 30 business days 
    ** ADVM says notice has no immediate effect on its listing,
has time to regain compliance until May 17, 2023
    ** Co intends to actively monitor the closing bid price of
its common stock between now and May 17, 2023 
    ** ADVM says it will also evaluate available options to
resolve the deficiency and regain compliance 
    ** Including session's fall, stock down ~61% YTD 
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))