\nAlloVir (Nasdaq: ALVR), a late-clinical stage allogeneic T cell immunotherapy company, today reported financial results from the first quarter ended March 31, 2023. The company shared progress across its allogeneic, off-the-shelf-virus specific T cell (VST) programs, including its lead investigational therapy, posoleucel, for prevention and treatment of life-threatening infections and diseases from up to six viruses that commonly impact patients following allogeneic hematopoietic cell transplant (allo-HCT), and for the treatment of BK viremia (BKV) in adult kidney transplant recipients.<\/p>\n
\n\u201cWe continue to focus our efforts on rapidly advancing the three global Phase 3 ongoing registrational trials evaluating our lead investigational product, posoleucel, for the prevention and treatment of common, yet devastating, and potentially life-threatening viral infections and diseases in allo-HCT patients where significant unmet need persists,\u201d said Diana Brainard, MD, Chief Executive Officer, AlloVir. \u201cIn tandem, we reported final positive results from the Phase 2 study of posoleucel for the treatment of BKV, the first demonstration of its safety and antiviral effect in solid organ transplant recipients. We continue to be encouraged by the potential of posoleucel as a transformative therapeutic for transplant patients.\u201d<\/p>\n
Recent Highlights<\/i><\/p>\n Upcoming Highlights\/Activities<\/i><\/p>\n First Quarter Financial Highlights<\/b><\/p>\n 2023 Financial Guidance<\/b><\/p>\n About AlloVir<\/b><\/p>\n \nAlloVir is a leading late clinical-stage cell therapy company with a focus on restoring natural immunity against life-threatening viral diseases in pediatric and adult patients with weakened immune systems. The company\u2019s innovative and proprietary technology platforms leverage off-the-shelf, allogeneic, single- and multi-virus-specific T cells for patients with T cell deficiencies who are at risk from the life-threatening consequences of viral diseases. AlloVir\u2019s technology and manufacturing process enable the potential for the treatment and prevention of a spectrum of devastating viruses with each single allogeneic cell therapy. The company is advancing multiple mid- and late-stage clinical trials across its product portfolio. For more information, visit www.allovir.com<\/a> or follow us on Twitter<\/a> or LinkedIn<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the future enrollment status and timing for data readouts for AlloVir\u2019s three Phase 3 clinical trials, the potential safety and efficacy of AlloVir\u2019s product candidates, the development and regulatory status of AlloVir\u2019s product candidates, the planned conduct of its preclinical studies, and clinical trials and its prospects for success in those studies and trials, and its strategy, business plans and focus. The words \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201ctarget\u201d and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management\u2019s current expectations and beliefs and are subject to a number of risks, uncertainties, and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those related to AlloVir\u2019s financial results, the timing for the initiation and successful completion of AlloVir\u2019s clinical trials of its product candidates, whether and when, if at all, AlloVir\u2019s product candidates will receive approval from the U.S. Food and Drug Administration (FDA), or other foreign regulatory authorities, competition from other biopharmaceutical companies, the impact of the COVID-19 pandemic on AlloVir\u2019s product development plans, supply chain, and business operations and other risks identified in AlloVir\u2019s annual report on Form 10-K for year ended December 31, 2023 and in its other SEC filings. AlloVir cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. AlloVir disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent AlloVir\u2019s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.<\/p>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n30,718<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,067<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n12,513<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,126<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n43,231<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,193<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n(43,231<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(43,193<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n1,325<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n148<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n723<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(818<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n(41,183<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(43,863<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n(0.44<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(0.69<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n93,303,672<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63,993,053<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n March 31,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n202,570<\/p>\n<\/td>\n \n233,795<\/p>\n<\/td>\n<\/tr>\n \n9,705<\/p>\n<\/td>\n \n9,257<\/p>\n<\/td>\n<\/tr>\n \n212,275<\/p>\n<\/td>\n \n243,052<\/p>\n<\/td>\n<\/tr>\n \n31,769<\/p>\n<\/td>\n \n34,027<\/p>\n<\/td>\n<\/tr>\n \n244,044<\/p>\n<\/td>\n \n277,079<\/p>\n<\/td>\n<\/tr>\n \n24,959<\/p>\n<\/td>\n \n24,338<\/p>\n<\/td>\n<\/tr>\n \n25,553<\/p>\n<\/td>\n \n28,222<\/p>\n<\/td>\n<\/tr>\n \n50,512<\/p>\n<\/td>\n \n52,560<\/p>\n<\/td>\n<\/tr>\n \n193,532<\/p>\n<\/td>\n \n224,519<\/p>\n<\/td>\n<\/tr>\n \n244,044<\/p>\n<\/td>\n \n277,079<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230504005266\/en\/<\/a><\/span><\/p>\n Media and Investor Contact: KEYWORDS:<\/b> Massachusetts United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology Pharmaceutical Health Clinical Trials<\/p>\n\n
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\n ALLOVIR, INC.<\/b><\/td>\n<\/tr>\n \n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n \n (unaudited, in thousands, except share and per share data)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Three Months Ended
March 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \n \n \n \n <\/tr>\n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n Loss from operations<\/td>\n \n \n \n \n \n \n \n \n \n Total other income (loss), net:<\/td>\n \n \n \n \n \n <\/tr>\n \n Interest income<\/td>\n \n \n \n \n \n \n \n \n \n Other income (loss), net<\/td>\n \n \n \n \n \n \n \n \n \n Net loss<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Net loss per share — basic and diluted<\/td>\n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n Weighted-average common shares outstanding—basic and diluted<\/td>\n \n \n \n \n \n \n \n \n \n
\n ALLOVIR, INC.<\/b><\/td>\n<\/tr>\n \n CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n \n (unaudited, in thousands)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n Current assets:<\/td>\n \n \n \n \n \n <\/tr>\n \n Cash, cash equivalents and short-term investments<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Other current assets<\/td>\n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n Total assets<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Liabilities and stockholders\u2019 equity<\/b><\/td>\n \n \n \n \n \n <\/tr>\n \n Current liabilities<\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n \n Long-term liabilities<\/td>\n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n Total stockholders\u2019 equity<\/td>\n \n \n \n \n \n \n \n Total liabilities and stockholders\u2019 equity<\/b><\/td>\n \n $<\/td>\n \n \n $<\/td>\n \n <\/p>\n
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IR@allovir.com<\/a><\/p>\n
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