On October 24, 2025, Eli Lilly announced an agreement to acquire Adverum Biotechnologies, including its leading Ixo-vec gene therapy candidate. The deal involves a cash offer plus a contingent value right, potentially valuing Adverum shares at up to $12.47 each, and is expected to close in Q4 2025 pending conditions. This acquisition strengthens Lilly’s position in innovative therapies and signals continued investment in growth beyond its current obesity and diabetes franchises. LLY shares were 0.0037% lower in pre-market trading at $820.58 after closing 1.06% higher at $821.04 on October 23, 2025, reflecting a stable reaction amid broader market gains and ongoing sector regulatory concerns.