REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Adverum Biotechnologies Inc. (ADVM) on Monday reported a loss of $18.5 million in its second quarter.

On a per-share basis, the Redwood City, California-based company said it had a loss of 89 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.27 per share.

Adverum Biotechnologies shares have declined 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.49, a decrease of 65% in the last 12 months.

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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADVM at https://www.zacks.com/ap/ADVM