AlloVir, Inc. - ALVR STOCK NEWS

AlloVir, Inc. (Nasdaq: ALVR) announced promising early clinical data on ALVR109, a virus-specific T cell therapy targeting SARS-CoV-2. The investigational therapy demonstrated antiviral activity against multiple variants, including Delta, during an oral presentation at IDWeek™ 2021. Four patients with COVID-19 showed clinical improvement post-infusion with well-tolerated results, and T cell expansion was observed. This data underlines the potential of AlloVir's therapeutic platform.

AlloVir, Inc. (NASDAQ: ALVR) will present a corporate update at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14 at 4:15 p.m. ET. Investors can access the presentation on the company's website, with an archived replay available for 30 days after. AlloVir specializes in late-stage cell therapies aimed at restoring immunity against life-threatening viral diseases in patients with weakened immune systems. They utilize allogeneic, multi-virus-specific T-cells and are advancing several clinical trials across their product portfolio.

AlloVir (Nasdaq: ALVR) reported its second-quarter financial results for 2021, highlighting an increase in research and development expenses to $25.7 million, compared to $8.9 million in Q2 2020. General and administrative expenses also rose to $12.0 million from $3.3 million year-over-year. The net loss for the quarter was $37.6 million or $0.60 per share, up from a loss of $11.6 million or $4.43 per share in the same quarter of 2020. As of June 30, 2021, the company had $313.3 million in cash and equivalents, down from $356.3 million at the end of 2020.

AlloVir (ALVR) reported its Q1 2021 financial results, highlighting significant advancements in its clinical pipeline. The company appointed Dr. Diana Brainard as CEO to drive development in virology therapeutics. Financials revealed a net loss of $30.9 million, or $0.50 per share, compared to a loss of $9.3 million in Q1 2020. R&D expenses surged to $20.4 million, reflecting active product development. AlloVir has $337.0 million in cash and equivalents, down from $356.3 million at year-end 2020, indicating a need to manage spending amid ongoing trials and expansions.

AlloVir (Nasdaq: ALVR) appointed Diana M. Brainard, M.D., as CEO effective May 17, 2021. Dr. Brainard, with over 20 years in infectious diseases and significant leadership experience at Gilead, succeeds David Hallal, who will remain as Executive Chairman. Under her leadership, AlloVir aims to enhance its clinical pipeline of cell therapies for viral diseases, including the ongoing trials for its lead therapy, Viralym-M, and ALVR109. This transition comes at a strategic moment, leveraging Brainard's expertise to drive growth and innovation in the company.

AlloVir, a late clinical-stage cell therapy company listed on Nasdaq as ALVR, will present its corporate overview at the 10th Annual SVB Leerink Global Healthcare Conference on February 26, 2021, at 4:20 p.m. ET. The presentation will be accessible via the Investors & Press section on AlloVir’s website, with an archived replay available for approximately 30 days post-event. AlloVir focuses on developing innovative T-cell therapies aimed at restoring immunity against life-threatening viral diseases in immunocompromised patients.

AlloVir (Nasdaq: ALVR) announced positive outcomes from a subgroup analysis of its Phase 2 CHARMS study, focusing on its investigational T-cell therapy, Viralym-M (ALVR105), for treating virus-associated hemorrhagic cystitis in allo-HSCT recipients. The therapy demonstrated a significant resolution of macroscopic hematuria, with 60% resolution at two weeks and 80% at six weeks, compared to 10% and 30% in untreated cohorts. Additionally, the company is advancing to a Phase 3 pivotal study. The press release underscores the potential of Viralym-M in addressing challenging viral infections in immunocompromised patients.

AlloVir (Nasdaq: ALVR) reported a net loss of $69.8 million for 2020, or $2.59 per share, compared to a loss of $23.8 million in 2019. The company achieved key milestones, including FDA clearance for two IND applications and the initiation of clinical trials for its therapies, Viralym-M and ALVR109. Research and development expenses surged to $49.7 million, reflecting increased activity in product development. As of December 31, 2020, AlloVir maintained cash and equivalents totaling $356.3 million, up from $126.1 million in 2019. The company plans to expand trials in 2021.

AlloVir (ALVR) announced its participation in the upcoming Transplantation & Cellular Therapy Meeting, which will take place virtually from February 8 to 12, 2021. The company will present three oral presentations and one poster presentation, addressing critical topics related to virus-associated complications in patients post-transplantation. The presentations will cover economic burdens and treatment advancements for viral infections, including the use of allogeneic, off-the-shelf T cells targeting COVID-19. This highlights AlloVir's ongoing commitment to improving outcomes for patients with weakened immune systems.