Frazier Life Sciences Public Fund, L.P. - 09 Dec 2025 Form 4 Insider Report for Adverum Biotechnologies, Inc. (ADVM)

Role: 10%+ Owner
Signature: /s/ Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.
Issuer symbol: ADVM
Transactions as of: 09 Dec 2025
Net transactions value: -$15,268,658
Form type: 4
Filing time: 09 Dec 2025, 17:29:17 UTC
Previous filing: 05 Dec 2025
SEC: View on sec.gov

Reporting Owners (3)

Name	Relationship	Address	Signature	Signature date	CIK
Frazier Life Sciences Public Fund, L.P.	10%+ Owner	C/O FRAZIER LIFE SCIENCES MANAGEMENT, L., 1001 PAGE MILL RD, BUILDING 4, SUITE B, PALO ALTO	/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.	09 Dec 2025	0001863769
FHMLSP, L.P.	10%+ Owner	FRAZIER LIFE SCIENCES MANAGEMENT, L.P., 1001 PAGE MILL RD, BUILDING 4, SUITE B, PALO ALTO	/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P.	09 Dec 2025	0001879466
FHMLSP, L.L.C.	10%+ Owner	FRAZIER LIFE SCIENCES MANAGEMENT, L.P, 1001 PAGE MILL RD, BUILDING 4, SUITE B, PALO ALTO	/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C.	09 Dec 2025	0001879465

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADVM	Common Stock	Disposition pursuant to a tender of shares in a change of control transaction	$15,268,658	-4,288,949	-100%	$3.56	0	09 Dec 2025	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Frazier Life Sciences Public Fund, L.P. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Reflects disposition of the Issuer's equity securities on December 9, 2025 upon the consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of October 24, 2025, by and among Issuer, Eli Lilly and Company ("Parent") and Tigers Acquisition Corporation, a wholly owned subsidiary of Parent ("Merger Sub"), including the consummation of the merger between Issuer and Merger Sub and related tender offer from Merger Sub to the stockholders of the Issuer (the "Offer"). Pursuant to the Offer, Merger Sub purchased each share of the Issuer's Common Stock ("Shares") held by the Reporting Person in exchange for (i) $3.56 per share in cash plus (ii) one non-tradable contingent value right ("CRV") that entitles the holder to receive up to an additional $8.91 per CVR in cash upon the achievement of two milestones described in the Merger Agreement.
F2	The shares are held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P.

Content

Reflects disposition of the Issuer's equity securities on December 9, 2025 upon the consummation of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of October 24, 2025, by and among Issuer, Eli Lilly and Company ("Parent") and Tigers Acquisition Corporation, a wholly owned subsidiary of Parent ("Merger Sub"), including the consummation of the merger between Issuer and Merger Sub and related tender offer from Merger Sub to the stockholders of the Issuer (the "Offer"). Pursuant to the Offer, Merger Sub purchased each share of the Issuer's Common Stock ("Shares") held by the Reporting Person in exchange for (i) $3.56 per share in cash plus (ii) one non-tradable contingent value right ("CRV") that entitles the holder to receive up to an additional $8.91 per CVR in cash upon the achievement of two milestones described in the Merger Agreement.

The shares are held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P.