Needham Downgrades Chegg to Hold

Adverum will sell the shares at a price per share of $1.20, representing a premium of approximately 20% to its stock's 30-day volume-weighted average price, and the financing is expected to close on Feb. 8. Adverum anticipates the gross proceeds from the private placement to be approximately $127.5 million, before deducting any offering related expenses and are expected to be sufficient to fund the current operating plan into late 2025.