SCHEDULE 13G/A 0001193125-24-029534 0001863769 XXXXXXXX LIVE 2 Common Stock, $0.0001 par value per share 11/25/2025 0001501756 ADVERUM BIOTECHNOLOGIES, INC. 00773U207 100 CARDINAL WAY REDWOOD CITY CA 94063 Rule 13d-1(c) Frazier Life Sciences Public Fund, L.P. b DE 0.00 4288949.00 0.00 4288949.00 4288949.00 19.4 PN The shares listed in rows 6, 8 and 9 include shares that were acquired from Frazier Life Sciences Public Overage Fund, L.P. pursuant to a merger between Frazier Life Sciences Public Overage Fund, L.P. and Frazier Life Sciences Public Fund, L.P. The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLSP, L.P. b DE 0.00 4288949.00 0.00 4288949.00 4288949.00 19.4 PN The shares listed in rows 6, 8 and 9 include shares that were acquired from Frazier Life Sciences Public Overage Fund, L.P. pursuant to a merger between Frazier Life Sciences Public Overage Fund, L.P. and Frazier Life Sciences Public Fund, L.P. The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLSP, L.L.C. b DE 0.00 4288949.00 0.00 4288949.00 4288949.00 19.4 OO The shares listed in rows 6, 8 and 9 include shares that were acquired from Frazier Life Sciences Public Overage Fund, L.P. pursuant to a merger between Frazier Life Sciences Public Overage Fund, L.P. and Frazier Life Sciences Public Fund, L.P. The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. Frazier Life Sciences X, L.P. b DE 0.00 216964.00 0.00 216964.00 216964.00 1.0 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS X, L.P. b DE 0.00 216964.00 0.00 216964.00 216964.00 1.0 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS X, L.L.C. b DE 0.00 216964.00 0.00 216964.00 216964.00 1.0 OO The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. Frazier Life Sciences XI, L.P. b DE 0.00 504849.00 0.00 504849.00 504849.00 2.3 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS XI, L.P. b DE 0.00 504849.00 0.00 504849.00 504849.00 2.3 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS XI, L.L.C. b DE 0.00 504849.00 0.00 504849.00 504849.00 2.3 OO The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. Frazier Life Sciences XII, L.P. b DE 0.00 522768.00 0.00 522768.00 522768.00 2.4 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS XII, L.P. b DE 0.00 522768.00 0.00 522768.00 522768.00 2.4 PN The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. FHMLS XII, L.L.C. b DE 0.00 522768.00 0.00 522768.00 522768.00 2.4 OO The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. James N. Topper b X1 0.00 216964.00 0.00 216964.00 216964.00 1.0 IN The shares listed in rows 6, 8 and 9 consist of 216,964 shares of Common Stock held directly by Frazier Life Sciences X, L.P. The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. Patrick J. Heron b X1 0.00 216964.00 0.00 216964.00 216964.00 1.0 IN The shares listed in rows 6, 8 and 9 consist of 216,964 shares of Common Stock held directly by Frazier Life Sciences X, L.P. The percentage listed in row 11 is calculated based on 22,077,467 shares of Common Stock outstanding on November 7, 2025, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2025. ADVERUM BIOTECHNOLOGIES, INC. 100 CARDINAL WAY, REDWOOD CITY, CA, 94063. The entities and persons filing this statement (collectively, the "Reporting Persons") are: Frazier Life Sciences Public Fund, L.P. ("FLSPF") FHMLSP, L.P. FHMLSP, L.L.C. Frazier Life Sciences X, L.P. ("FLS X") FHMLS X, L.P. FHMLS X, L.L.C. Frazier Life Sciences XI, L.P. ("FLS XI") FHMLS XI, L.P. FHMLS XI, L.L.C. Frazier Life Sciences XII, L.P. ("FLS XII") FHMLS XII, L.P. FHMLS XII, L.L.C. James N. Topper ("Topper") Patrick J. Heron ("Heron") The address of the principal place of business for each of the Reporting Persons is: c/o Frazier Life Sciences Management, L.P. 1001 Page Mill Rd, Building 4, Suite B Palo Alto, CA 94304 The information contained in row 4 of each Reporting Person's cover page to this Schedule 13G is incorporated by reference. Y The information contained in row 9 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. FLSPF directly holds 4,288,949 shares of Common Stock. FHMLSP, L.P. is the general partner of FLSPF and the general partner of FHMLSP, L.P. is FHMLSP, L.L.C., which is managed by an investment committee of four that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLSPF. FLS X directly holds 216,964 shares of Common Stock. FHMLS X, L.P. is the general partner of FLS X and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Heron and Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares of Common Stock held by FLS X. FLS XI directly holds 504,849 shares of Common Stock. FHMLS XI, L.P. is the general partner of FLS XI and the general partner of FHMLS XI, L.P. is FHMLS XI, L.L.C., which is managed by an investment committee of three that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLS XI. FLS XII directly holds 522,768 shares of Common Stock. FHMLS XII, L.P. is the general partner of FLS XII and the general partner of FHMLS XII, L.P. is FHMLS XII, L.L.C., which is managed by an investment committee of three that acts by majority vote. Accordingly, no members of such committee are attributed beneficial ownership of the securities directly held by FLS XII. Except as specifically stated herein, the filing of this Schedule 13G shall not be construed as an admission that any Reporting Person is, for the purposes of Section 13(d) and/or Section 13(g) of the Act or otherwise, the beneficial owner of any securities covered by this Schedule 13G or a member of a "group" with any other person. The information contained in row 11 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. The information contained in row 5 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. The information contained in row 6 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. The information contained in row 7 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. The information contained in row 8 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 Joint Filing Agreement Frazier Life Sciences Public Fund, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLSP, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLSP, L.L.C. /s/ Steve R. Bailey 11/28/2025 Frazier Life Sciences X, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLS X, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLS X, L.L.C. /s/ Steve R. Bailey 11/28/2025 Frazier Life Sciences XI, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLS XI, L.P. /s/ Steve R. Bailey 11/28/2025 FHMLS XI, L.L.C. /s/ Steve R. Bailey 11/28/2025 Frazier Life Sciences XII, L.P. /s/ Gordon Empey 11/28/2025 FHMLS XII, L.P. /s/ Gordon Empey 11/28/2025 FHMLS XII, L.L.C. /s/ Gordon Empey 11/28/2025 James N. Topper /s/ Steve R. Bailey 11/28/2025 Patrick J. Heron /s/ Steve R. Bailey 11/28/2025