The group will need longer-term data to justify its huge valuation.
The Swiss group has likely been paying attention to industry developments as BCMA and CD40 go out, while Covid-19 and Tim-3 move up.
Late-stage data are expected for Apellis; Ionis and Biogen tackle ALS; and Mirati awaits combination results.
But data are early, and other groups are also developing less frequent injections for wet AMD.
A second clinical failure means that Biogen threw away $877m, but this sum will today be seen as little more than a rounding error.
A serious adverse event puts ADVM-022’s future in doubt, and it could hurt other eye disease gene therapy players too.
Promising early data with the group’s gene therapy put it ahead of Regenxbio for now.