Adverum Biotechnologies, Inc..
ADVM.US | Manufacture of pharmaceuticals, medicinal chemical and botanical products
Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases. They develop gene therapy product candidates designed to provide durable efficacy by inducing sustained expression of a therapeutic protein. Their lead product candidate,...Show More
Better Health for All
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No evidence available to assess Adverum Biotechnologies, Inc. on Better Health for All.
Fair Money & Economic Opportunity
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Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company focused on ocular and rare diseases, not a financial institution.
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As such, the company does not offer lending, deposit services, consumer credit products, or financial education programs.
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Consequently, all Key Performance Indicators (KPIs) under the 'Fair Money & Economic Opportunity' value are not applicable to its business model.
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No evidence was found regarding financial products, fees, or related regulatory compliance for financial services.
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Fair Pay & Worker Respect
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Adverum Biotechnologies reported a CEO-to-median employee pay ratio of 19:1 for the 2024 fiscal year.
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As of September 30, 2023, the overall median female salary to median male salary ratio was 97.5%.
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The company conducts pay equity analyses after each merit and promotion cycle to identify and resolve discrepancies.
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The latest employee Net Promoter Score (eNPS) was 29.
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Glassdoor ratings show an overall employee rating of 3.5/5, a 55% employee recommendation, and 76% CEO approval.
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The company was recognized as one of the Bay Area's "Top Workplaces" for 2021, 2022, and 2023.
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Prior to Dena House's arrival, the company experienced an unacceptably high turnover rate, which subsequently decreased below the industry benchmark.
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However, in July 2022, Adverum laid off 78 employees, nearly 40% of its workforce, as part of a restructuring.
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The company offers health benefits covering 90% of insurance costs for employees and their dependents.
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Adverum maintains a 24/7 anonymous ethics hotline and reporting website, with a strict policy against retaliation for good-faith reporting.
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No significant labor law violations or fines have been reported in the past two years.
Fair Trade & Ethical Sourcing
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No specific, quantitative evidence was found in the provided articles for any of the KPIs related to Fair Trade & Ethical Sourcing. Information regarding fair-trade certification share, supplier audit frequency, forced or child labor incidents, supply chain traceability, remediation speed, ethical clause coverage in supplier contracts, materials risk index, or supplier diversity spend was not available.
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The articles primarily focused on internal company policies, regulatory compliance for the company's own operations, and financial/product development matters, rather than supply chain ethical sourcing practices.
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Honest & Fair Business
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Adverum Biotechnologies disclosed on March 31, 2025, that previously issued financial statements should no longer be relied upon.
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The company is restating its audited consolidated financial statements for the years ended December 31, 2022 and 2023, and unaudited quarterly financial information for the periods in 2023 and 2024.
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These restatements are due to non-cash errors in accounting for tenant improvement allowances.
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The company expects to report at least one material weakness in internal control over financial reporting.
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In March 2025, the Board of Directors determined that eight of its ten directors are independent, representing 80% of the board.
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The company maintains a 24/7 anonymous ethics hotline and reporting website, with a strict policy against retaliation for good faith reporting, including legal and identity protection.
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All reports are logged, investigated, and tracked until resolved, with copies forwarded to senior management and the Audit Committee Chair.
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The company has a Code of Business Conduct and Ethics that applies to all employees, officers, and directors.
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Ernst & Young LLP has served as the company's independent registered public accounting firm since 2018.
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The company's environmental compliance is audited annually by a Certified Unified Program Agency (San Mateo County).
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Kind to Animals
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The company relies on animal testing for preclinical studies, including mouse studies for genotoxicity, long-term studies in dogs (up to 8 years), and non-human primates (up to 5 years) for safety and efficacy.
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Preclinical development also involves gerbils and non-human primates for gene therapy candidates.
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There is no evidence provided of the use of non-animal testing methods. The company's policy prohibits discretionary animal testing, but legal mandates still override the use of alternatives. The company uses 50,000–100,000 animals annually, including mice, dogs, non-human primates, and gerbils, for preclinical studies and toxicology, with no transparent reduction targets mentioned.
No War, No Weapons
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Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company focused on ocular and rare diseases. The provided articles contain no evidence of the company deriving revenue from arms or defense contracts, developing or selling dual-use technologies, or engaging in sales to embargoed regimes. There is no information indicating involvement in intelligence or surveillance activities, or any exposure to controversial weapons. The company's core business, as described, is entirely civilian and medical in nature. While one article discusses general BIS export controls on certain biotechnology products due to potential military applications.
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there is no evidence that Adverum Biotechnologies, Inc. specifically develops, invests in, or exports such dual-use technologies. Therefore, for all relevant KPIs, the company's activities are assessed as N/A, indicating no involvement in defense or arms-related business.
Planet-Friendly Business
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Adverum Biotechnologies reported total Scope 1, 2, and 3 greenhouse gas emissions of 4,470 metric tons CO₂e for the 12 months ending August 23, 2023.
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The company sources its electricity from Peninsula Clean Energy, which is stated to include 100% carbon-free sources.
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Respect for Cultures & Communities
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No specific data regarding Adverum Biotechnologies, Inc.'s practices related to Respect for Cultures & Communities was found in the provided articles.
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All articles explicitly state that no relevant information or data could be extracted for the requested metrics.
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Safe & Smart Tech
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The company's privacy policy outlines that users have rights to access, rectify, erase, restrict, and object to the processing of their data, as well as data portability and withdrawal of consent, which represents industry-standard user privacy controls.
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Data is stored for the period necessary for the specific purpose of collection, including legal compliance, claims, requests, and business records, reflecting standard data minimization and retention practices.
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The company explicitly states adherence to GDPR, FADP, and UK GDPR, acting as a data controller, demonstrating good compliance with applicable regulations.
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Zero Waste & Sustainable Products
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The company conducts routine internal inspections and is audited annually by a Certified Unified Program Agency (San Mateo County), with no specific violations or compliance issues mentioned in the reporting period.
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This indicates compliant hazardous waste handling. Furthermore, no waste disposal violations have been mentioned in the past three years.