Cell therapy firm AlloVir tumbles on stock offering

Kalaris Therapeutics

21/06/2023 21:35

** AlloVir Inc's  ALVR.O  shares down ~20% in extended
trading after co launches follow-on
    ** Late-stage cell therapy firm announces $75 mln stock
offering
    ** JP Morgan, Morgan Stanley and BofA jt bookrunners for
offering slated to price overnight
    ** ALVR shares fell for 3rd straight session on Weds,
closing down 3.9% at $4.93
    ** Co has ~93.59 mln shares outstanding for ~$461 mln market
cap and ~40.39 shares of free float, per Refinitiv data
    ** Stock down ~4% YTD, but has risen ~31% this month

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))