This suggests they'll need additional financing before completing their registrational trials, creating potential dilution risk for investors. The company also provided pipeline highlights and anticipated milestones. "We've kicked off 2025 with strong execution by initiating ARTEMIS, our first pivotal trial for Ixo-vec, and are thrilled with the enthusiasm of retina specialists and patient interest. We look forward to starting our second registrational study, AQUARIUS, later this year," stated Laurent Fischer, M.D., president and chief executive officer of Adverum Biotechnologies. "The long-term data from OPTIC and LUNA, along with the anticipated two-year follow-up data from LUNA, bolster confidence in Ixo-vec's potential to provide One And Done™ life-long injection-free vision preservation for wet AMD patients.