AlloVir scraps late-stage studies testing lead cell therapy (updated)

Kalaris Therapeutics

22/12/2023 12:44

(Adds shares in paragraph 1, details throughout)
       Dec 22 (Reuters) - AlloVir  ALVR.O  said on Friday it
will discontinue three late-stage studies testing its lead cell
therapy candidate after an independent safety board said the
studies were unlikely to meet their main goals.
        The news dragged shares of AlloVir down 57% in premarket
trading, after the company also said it will review strategic
alternatives including a merger, sale, or divestiture of assets.
  
    The therapy, posoleucel, was being developed for the
prevention of certain viral infections, treatment of a viral
inflammatory condition called hemorrhagic cystitis and
adenovirus infections associated with a type of stem cell
transplant.
    Posoleucel is a virus-specific T cell therapy, a class of
treatments designed to restore immunity in patients with T-cell
deficiencies. It targets six viruses. 
    AlloVir's therapy did not present any safety concerns during
the studies, the company said, adding that it will analyze data
from the studies for any benefits in disease subpopulations.    
    As of Sept. 30, 2023, the company had cash, cash equivalents
and short-term investments of $213.3 million.  
       

 (Reporting by Mariam Sunny in Bengaluru; Editing by Devika
Syamnath)
 ((Mariam.ESunny@thomsonreuters.com;))