Adverum Biotechnologies ( (ADVM) ) has released a notification of late filing.
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Adverum Biotechnologies has announced a delay in filing its Form 10-K (Yearly Report) for the financial period ending December 31, 2024. The delay is primarily due to non-cash accounting errors related to an operating lease and sublease for a building in North Carolina. These errors have led to the need for restating financial statements from previous years, affecting non-cash assets, liabilities, and general administrative expenses. The company expects to file the delayed report within 15 days of the original deadline. Adverum anticipates significant changes in financial results but cannot yet provide a reasonable estimate. The company is addressing internal control weaknesses and aims to ensure compliance moving forward. The notification was signed by Laurent Fischer, M.D., President and CEO.
More about Adverum Biotechnologies
YTD Price Performance: -3.96%
Average Trading Volume: 172,947
Technical Sentiment Signal: Buy
Current Market Cap: $95.9M
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