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AlloVir Announces $126.6 Million Registered Direct Offering
Proceeds Support the Completion of Three Global Phase 3 Registrational Trials for Posoleucel and Global Regulatory Filings WALTHAM, Mass.--(BUSINESS WIRE)--
About this update from Kalaris Therapeutics, Inc.
[{"type":"text","content":"\nProceeds Support the Completion of Three Global Phase 3 Registrational Trials for Posoleucel and Global Regulatory Filings\n\n WALTHAM, Mass.--(BUSINESS WIRE)--\nAlloVir, Inc. (Nasdaq: ALVR), a late clinical-stage allogeneic T-cell immunotherapy company, today announced that it has entered into a securities purchase agreement with a group of institutional and strategic investors to sell 27,458,095 shares of common stock (the “Shares”) in a registered direct offering at a purchase price of $4.61 per share. Gross proceeds from the offering will equal approximately $126.6 million. The offering is expected to close on or about July 28, 2022, subject to the satisfaction of customary closing conditions.\n\nThe offering is being made without an underwriter or placement agent and includes participation from new and existing investors, including Kite, a Gilead Company (Nasdaq: GILD); F2 Ventures; ElevateBio, LLC; Invus; Redmile Group, LLC; EcoR1 Capital, LLC; and GMT Capital Corp.\n\n\"We are thrilled with the quality of the new and existing long-term investors who through this financing continue to support the acceleration of AlloVir’s highly innovative multi-virus specific T-cell therapy platform and the advancement of our lead cell therapy candidate, posoleucel. The additional proceeds will enable the completion of our three ongoing global Phase 3 registrational trials of posoleucel for the treatment and prevention of serious and life-threatening infections caused by six devastating viruses in immunocompromised patients,” said Diana Brainard, M.D., Chief Executive Officer, AlloVir.\n\nAlloVir intends to use the net proceeds from the offering, together with existing cash, cash equivalents and investments, to complete enrollment and achieve data readouts in all three of the Company’s ongoing Phase 3 trials of its lead multi-virus specific T-cell therapy candidate, posoleucel, for the continued advancement of manufacturing processes to support regulatory submissions, for other research and development activities for its product candidates, and for general corporate purposes. As of June 30, 2022, AlloVir’s cash, cash equivalents and short-term investments equaled $172.7 million.\n\nThe Shares were offered pursuant to a shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on ...