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Classification: Confidential Jeffrey — we are following up with the below news regarding AAVL. The stock is trading down $19.11 to $19.7657 per the Bloomberg screenshot below. Please let us know how you would like to proceed with your position. Thank you, Vahe AAVL US $ S I 19./6S/ 819.76 /19.86K 1

the control group of 11 patients. If approved, AVA-101 would be the first gene therapy for the condition and could replace current options made by Regeneron Pharmaceuticals Inc. and Roche that require monthly injections in the eye. Avalanche's treatment theoretically fixes disease-causing genetic code with only one injection

N STANLEY RESEARCH NORTH AMERICA 7.1;r4.-.713er Jey e C.; _LC. Matthew Harrison • David Friedman. M. Key Ratios and Statistics Reuters: GILD.O Bloomberg: GILD US Biotechnology / United Stales of America Shr price. close (Jul 23. 2014) $90.34 Mkt cap. curt (mm) $152.143 62-Week Range $90.74-55.9

c., Lexicon Pharmaceuticals. Inc.. Neurocrine Biosciences Inc. NPS Pharmaceuticals, Ophthotech Corp. Pharmacydics Inc.. Portola Pharmaceuticals Inc, Regeneron Pharmaceuticals Inc., Relypsa, Inc.. Synageva Biopharma Corp, Theravance Inc, Ultragenyx Pharmaceutical Inc, Versartis, Inc., Vertex Pharmaceuticals. XenoPort Inc. With

owing cash. PAORGAN STANLEY RESEARCH NORTH AMERICA _LC Matthew Harrison r12 714 62:» David Friedman, Key Ratios and Statistics Reuters: BUB.0 Bloomberg: BIIB US Biotechnology / United Stales of America Shr price. close (Jul 22. 2014) $303.67 Mkt cap. curt (mm) $72.313 52-Week Range 5358.89-203

c. Lexicon Pharmaceuticals. Inc., Neurocrine Biosciences Inc, NPS Pharmaceuticals, Ophthotech Corp. Pharmacyclics Inc.. Portola Pharmaceuticals Inc. Regeneron Pharmaceuticals Inc., Relypsa. Inc.. Synageva Biopharma Corp, Theravance Inc, Ultragenyx Pharmaceutical Inc, Versartis. Inc., Vertex Pharmaceuticals, XenoPort Inc. With

ne Therapy Trial Miss High Expectations (1) 2015-06.15 21:36:53.569 GMT (Updates with analyst's comment in fourth paragraph.) By Danielle Burger (Bloomberg) -- Avalanche Biotechnologies Inc. shares tumbled after some patients in a safety study of its gene therapy for an age-related chronic eye disease s

the control group of 11 patients. If approved, AVA-101 would be the first gene therapy for the condition and could replace current options made by Regeneron Pharmaceuticals Inc. and Roche that require monthly injections in the eye. Avalanche's treatment theoretically fixes disease-causing genetic code with only one injection