AlloVir falls on scrapping antiviral cell therapy trials, plans to explore options

Kalaris Therapeutics

22/12/2023 12:48

** Shares of cell therapy developer AlloVir  ALVR.O  fall
~57% to $1.00 premarket
    ** ALVR says it will discontinue three late-stage studies
evaluating its antiviral cell therapy posoleucel and will review
options that may include potential sale of the company 
    ** The decision was made after analyses by three independent
committees showed that the studies were unlikely to meet their
main goals - co
    ** The studies evaluated posoleucel for prevention of
infections or diseases by multiple viruses, treatment of a
virus-associated bladder condition and treatment of infection
causing adenovirus
    ** As of Sept. 20, ALVR had cash or its equivalents and
short-term investments of $213.3 mln  
    ** Up to last close, stock down 54.6% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))