Adverum Biotechnologies Inc 2024年度报告

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the transition period fromtoCommission File Number:001-36579_______________________________________________________________________________ Adverum Biotechnologies, Inc. (Exact name of registrant as specified in its charter)_______________________________________________________________________________ 100 Cardinal WayRedwood City,California94063(650)656-9323(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)_______________________________________________________________________________ TheNasdaqStock Market LLC(Nasdaq Capital Market) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes¨Nox Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days.Yesx No¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submitsuch files):Yesx No¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oremerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filerx Accelerated filer☐Smaller reporting companyxEmerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included inthe filing reflect the correction of an error to previously issued financial statements.x Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).x Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report Yes¨Nox Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes¨Nox As of June 30, 2024, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of theregistrant’s common stock held by non-affiliates of the registrant was approximately $136.7million, based on the closing price of the registrant’scommon stock on the Nasdaq Capital Market on June 30, 2024 of $6.86 per share.Shares of the registrant’s common stock held by each officer anddirector and each person known to the registrant to be affiliated with an officer or director have been excluded in that such persons may be deemedaffiliates. This determination of affiliate status is not a determination for other purposes. As of April4, 2025, the registrant had20,890,540shares of common stock, par value $0.0001par value, outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive proxy statement (the Proxy Statement) for the 2025 Annual Meeting of Stockholders of the registrant are incorporated byreference into Part III of this Annual Report on Form 10-K. If the Proxy Statement is not filed by April 30, 2025, then the registrant will file anamendment to this Form 10-K on Form 10-K/A to include the Part III information in this Form 10-K. TABLE OF CONTENTS PART I Item 1BusinessItem 1ARisk FactorsItem 1BUnresolved Staff CommentsItem 1CCybersecurityItem 2PropertiesItem 3Legal ProceedingsItem 4Mine Safety Disclosures PART II Item 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities87Item 6[Reserved]88Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations88Item 7AQuantitative and Qualitative Disclosures About Market Risk95Item 8Financial Statements and Supplementary Data