Avrobio was one of many gene therapy biotechs to launch in the latter half of the last decade, as scientific advances fueled a surge of interest and investment in medicines that use genes to treat disease.
But the company’s prospects have dimmed over in recent years, during which time its market value has steadily eroded. After a spike on Wednesday’s news, Avrobio shares now trade for a little over $1 apiece, a small fraction of the $19 they were worth in the company’s 2018 initial public offering.
