Adverum Biotechnologies (NASDAQ:ADVM) has jumped 11.1% after hours following word a few minutes ago that it’s gotten fast-track designation for its ADVM-022 gene therapy candidate.

The FDA granted the status to ADVM-022, a single-administration treatment for wet age-related macular degeneration.

It expects its OPTIC Phase 1 clinical trial initiation in Q4.

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