ATLANTA--(BUSINESS WIRE)--Holzer & Holzer, LLC is investigating whether certain statements issued by Avalanche Biotechnologies, Inc. (“Avalanche” or the “Company”) (Nasdaq: AAVL) regarding its business and operations complied with federal laws. On June 15, 2015, Avalanche announced results for the Phase II trial of its AVA-101 gene therapy study in wet age-related macular degeneration. Avalanche announced that AVA-101 achieved its primary endpoint, but the test was not designed to demonstrate a statistically significant difference between active and control groups in the secondary endpoints. Further, according to the Company, the study showed visual acuity in AVA-101 patents improved by just 2.2 letters on an eye chart exam from the previous year. Patients in the study also saw an increase in retinal thickness over that same time when compared to the control group. The price of Avalanche stock fell significantly on the news as the Company was downgraded by analysts.
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