Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Q2 2020 Earnings Conference Call - Final Transcript

Aug 10, 2020 • 04:30 pm ET


Adverum Biotechnologies, Inc. (NASDAQ:ADVM) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the Adverum Biotechnologies Conference Call. [Operator Instructions] After the presentation there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Myesha Lacy of Investor Relations and Corporate Communications. Please go ahead.

Myesha Lacy

Thank you, operator, and welcome, everyone. Today, we issued a press release to share new data from our OPTIC Phase 1 clinical trial of ADVM-022, report our financial results for the second quarter of 2020 and provide a business update. A copy of this release is available on the Press Releases page of the Investor Relations section of our corporate website at Please note that a replay of today's call and our copy of today's slide presentation will be available on the Events and Presentations section of the IR portion of our website.

Joining me today is Dr. Laurent Fischer, Chief Executive Officer; Leone Patterson, President; Dr. Aaron Osborne, Chief Medical Officer; and Thomas Leung, Chief Financial Officer. In addition, we are honored to have Dr. Arshad Khanani, Managing Director and Director of Clinical Research of Sierra Eye Associates, Clinical Associate Professor of Ophthalmology at the University of Nevada, and our top enrolling principal Investigator in OPTIC; and Dr. Khanani is also a Principal Investigator in the INFINITY trial. He will present the New OPTIC data. After his presentation, we will open up for questions.

As a reminder, we will be making forward-looking statements, which include our product development plans, research activities, anticipated upcoming milestones and operations, as well as our financial outlook. These statements are subject to risks and uncertainties that may cause actual results to differ materially from those forecasted. A description of these risks can be found under the caption Risk Factors on our latest Form 10-Q, which was filed this afternoon.

I will now turn the call over to our CEO, Dr. Laurent Fischer.

Laurent Fischer

Thanks, Myesha. Good afternoon, everyone. And thank you for joining us today. I hope that everyone is staying healthy and well this summer. First, I would like to personally thank Dr. Arshad Khanani for joining us today and for being the highest enroller in our OPTIC study, which to me speaks both to his credibility and enthusiasm to present our new data from OPTIC. In this trial, we have now treated 30 patients with a single intravitreal injection of our gene therapy ADVM-022. As a reminder, the patients in OPTIC previously required frequent anti-VEGF injections to manage their wet AMD and maintain their vision.

I also want to take this opportunity to share a few thoughts on my joining the team in June. It has been an extremely exciting and fascinating first few months. Since coming on board, I've been engaged with the team and fully immersed in the operation of the business. One of my goals for onboarding was to meet and listen to as many stakeholders as possible. I've been on countless Zoom meetings, getting to know