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Avalanche Biotechnologies, Inc.

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Avalanche reported wider-than-expected loss in the third quarter of 2015. Being a development-stage company, Avalanche's revenues comprise mainly collaboration and license fees, and government grants. The company's collaboration with Regeneron is a major positive – the deal not only validates Avalanche’s Ocular BioFactory platform, it also provides financial support in the form of research and development aid and milestone payments. However, the company decided not to advance AVA-101 to a phase IIb study in 2015 following detailed analyses of phase IIa study data and will be conducting preclinical studies. Any further development setback may adversely impact share prices, going forward. Lack of late-stage candidates in its pipeline is also concerning.