AlloVir, Inc. - ALVR STOCK NEWS

AlloVir (NASDAQ: ALVR) announced the appointment of Dr. Derek Adams to its Board of Directors, effective March 1, 2023. With over two decades of experience in biologic and gene therapy manufacturing, Dr. Adams is expected to significantly contribute to AlloVir's ongoing Phase 3 studies of posoleucel and its commercialization efforts. This leadership change follows Dr. Ansbert Gadicke's decision to step down from the board after guiding the company since September 2018. Dr. Adams' extensive background in Chemistry, Manufacturing and Controls (CMC) will aid AlloVir in navigating regulatory complexities as it advances its cell therapy products.

AlloVir, Inc. (ALVR) announced the completion of enrollment for its posoleucel Phase 3 trials and positive results from its Phase 2 study in kidney transplant patients. The trials target three distinct indications, with data readouts expected in 2024. As of December 31, 2022, AlloVir reported a strong cash position of $233.8 million and a net loss of $168.7 million, equating to $2.20 per share. The company anticipates operating expenses between $150 million and $170 million for 2023. The firm is positioned for potential growth as it continues to advance its investigational therapies, particularly posoleucel, which aims to combat infections in immunocompromised patients.

AlloVir announced positive final results from a Phase 2 study of posoleucel for treating BK viremia in adult kidney transplant patients. The therapy was generally well tolerated, with a balanced safety profile across dosing groups and placebo. In a Week 24 analysis, 39% of posoleucel patients achieved a ≥1-log viral load reduction, significantly higher than the placebo's 14%. The biweekly dosing group showed a 50% reduction rate, while 69% of high viral load patients (≥10,000 copies/mL) achieved ≥1-log reductions. The data suggest posoleucel could offer a transformative treatment option for patients with unmet needs. The company plans further discussions with regulatory authorities.

AlloVir, Inc. (NASDAQ: ALVR) announced that CEO Diana Brainard, M.D., will engage in a fireside chat at the SVB Securities Global Biopharma Conference on February 14, 2023, at 10:00 a.m. ET. The event will be available via live webcast and archived replay on the Investors & Press section of AlloVir's website. AlloVir specializes in T-cell immunotherapy, focusing on treating patients with weakened immune systems. The company's innovative technology allows for the treatment of various viral diseases using allogeneic T cells. For updates, visit AlloVir's website.

AlloVir announced positive Phase 2 data for its investigational therapy posoleucel, presented at ASH 2022, highlighting its potential in multi-virus prevention. A global Phase 3 trial is ongoing, with completion of enrollment expected by the end of 2023. Topline data for the Phase 2 study in BKV treatment for kidney transplant patients is anticipated in Q1 2023. The company aims to advance its pipeline and reported a cash balance of $234 million as of December 31, 2022, with operating expenses projected between $150 million and $170 million for 2023.

AlloVir, Inc. (NASDAQ: ALVR), a late-stage allogeneic T-cell immunotherapy company, announced that CEO Diana Brainard will present at the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 2:15 p.m. PST in San Francisco. The event will be accessible via a live webcast and archived replay on AlloVir's website. AlloVir focuses on restoring immunity against life-threatening viral diseases using innovative T-cell therapies, and is advancing multiple clinical trials aimed at treating patients with weakened immune systems.

AlloVir announced final data from a Phase 2 study of posoleucel, a T-cell therapy targeting six viral infections in allo-HCT recipients. The results showed that 88% of patients remained free from clinically significant infections by Week 14, despite high rates of viral reactivation. Biomarker analyses revealed a link between viral control and the expansion of virus-specific T cells. The company is advancing into a global Phase 3 trial and will host an investor webcast on December 14, 2022, to discuss its findings.