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ALVR.US

AlloVir (ALVR) The Lead Product Studies Case

D. Massachusetts
Court
1:24-cv-10152
Case number
22 Mar 2022
Class period Start
21 Dec 2022
Class period End
  • $ALVR stockholder filed a claim vs. AlloVir, accusing them of overstating the prospects of the lead product.
  • The news about the drug caused $ALVR 67% fall, and $178M+ shareholder value loss.
In March 2022, AlloVir started the final stage of testing for its primary product, posoleucel.

On December 22, 2023, AlloVir halted posoleucel Phase 3 studies due to effectiveness concerns.
  • AlloVir stopped the studies because planned analyses showed they wouldn't meet their main goals.
Following this news, $ALVR dropped 67%.

Based on these events, $ALVR stockholder filed a claim against AlloVir and its leaders:
  • The complaint suggests they hid the low chances of success for the posoleucel Phase 3 Studies.
  • As a result, AlloVir is said to have exaggerated posoleucel's effectiveness.
Considering all the representations, investors have reasons to suspect that AlloVir misrepresented their likelihood of success and providing inaccurate portrayals of the drug's efficacy and commercial potential.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
22 December 2023
Filing date
19 January 2024
Lead Plaintiff Deadline
19 March 2024
Collecting participants…
Created by Polina Foster, Scout

Allovir Inc

Allovir, Inc., a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastati...

    Ticker
    ALVR.US
    ISIN
    US0198181036
    CIK
    1754068
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    1100 Winter Street, Waltham, MA, United States, 02451