Adverum Biotechnologies Inc. reported a net loss of $49.2 million for the second quarter of 2025, translating to a loss of $2.34 per basic and diluted share. This represents an increase in net loss compared to the $30.5 million, or $1.46 per basic and diluted share, reported for the same period in 2024. The company's research and development expenses rose significantly to $37.1 million in the three months ending June 30, 2025, from $17.1 million in the same timeframe of the previous year. This increase was attributed to higher clinical trial expenses and personnel-related costs, particularly due to the ARTEMIS Phase 3 clinical trial. Conversely, general and administrative expenses decreased to $12.7 million from $15.8 million in the prior year, driven by lower facilities expenses and reduced personnel costs. The company highlighted strong progress in its pipeline, with the ARTEMIS Phase 3 trial enrollment surpassing expectations. Enrollment completion is anticipated in the first quarter of 2026, with topline data expected in the first half of 2027. Additionally, Adverum plans to release LUNA 2-year long-term follow-up data in the fourth quarter of 2025. The company also announced a $10 million private placement with Frazier Life Sciences.