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Adverum posts fourth quarter, annual net loss

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Adverum Biotechnologies reported a net loss of $15.7 million, or $0.25 per share, in the fourth quarter of 2018 compared with a net loss of $14.8 million, or $0.32 per share, in 2017’s fourth quarter, according to a press release.

General and administrative expenses increased from $4 million in 2017’s final quarter to $5.2 million, while research and development costs decreased from $12 million to $11.6 million.

The company posted collaboration and license revenue of $0.1 million for the quarter compared with $0.5 million a year ago.

For the full year, net loss was $72.6 million, or $1.18 per share, compared with a net loss $56.1 million, or $1.29 per share, in 2017. Annual collaboration and license revenue was $1.6 million compared with $1.8 million the previous year.

Cash, cash equivalents and short-term investments totaled $205.1 million as of Dec. 31, 2018.