AlloVir decimated as posoleucel Phase III studies halted
AlloVir (Nasdaq: ALVR) on Friday saw its shares plunge more than 67% to $0.77, after it announced discontinuation of its three Phase III studies for its lead asset posoleucel, an allogeneic T cell immunotherapy company.
The decision was based on pre-planned futility analyses by the Data Safety Monitoring Boards (DSMB) indicating studies were unlikely to meet their primary endpoints (despite no safety concerns raised). AlloVir pointed out that none of the boards had raised any safety concerns.
Posoleucel is an investigational off-the-shelf multi-virus-specific T cell therapy, which targets six viral pathogens in immunocompromised individuals: adenovirus (AdV), BK virus (BKV), cytomegalovirus (CMV), Epstein-Barr virus (EBV), human herpesvirus-6 (HHV-6) and JC virus (JCV).
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