An investor, who purchased shares of AlloVir, Inc. (NASDAQ: ALVR), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by AlloVir, Inc. in connection with certain allegedly false and misleading statements made between March 22, 2022 and December 21, 2023.
Investors who purchased a significant amount of shares of AlloVir, Inc. (NASDAQ: ALVR) between March 22, 2022 and December 21, 2023, and / or those who purchased any NASDAQ: ALVR shares prior to March 2022 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 19, 2024. NASDAQ: ALVR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Waltham, MA based AlloVir, Inc. (NASDAQ: ALVR), 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 devastating viral-associated diseases.
In March 2022, AlloVir, Inc. initiated global phase 3 registrational studies of its lead product posoleucel for the prevention of life-threatening viral infections from viruses in high-risk, allogeneic hematopoietic cell transplant patients (the “posoleucel Phase 3 Studies”).
On April 20, 2022, AlloVir issued a press release entitled “FDA Grants Regenerative Medicine Advanced Therapy (RMAT) Designation to AlloVir’s Posoleucel for Prevention of Multiple Life-Threatening Infections from Six Viruses in Allogeneic Hematopoietic Cell Transplant Patients.”
On May 5, 2022, AlloVir issued a press release announcing the Company’s Q1 2022 financial results.
On August 4, 2022, AlloVir issued a press release announcing the Company’s Q2 2022 financial results.
On November 3, 2022, AlloVir issued a press release announcing the Company’s Q3 2022 financial results.
On January 9, 2023, AlloVir issued a press release entitled “AlloVir Announces Plans to Complete Enrollment in Three Phase 3 Posoleucel Studies in 2023.”
On May 4, 2023, AlloVir issued a press release announcing the Company’s Q1 2023 financial results.
On August 3, 2023, AlloVir issued a press release announcing the Company’s Q2 2023 financial results.
On November 2, 2023, AlloVir issued a press release announcing the Company’s Q3 2023 financial results.
Then on December 22, 2023, AlloVir, Inc. (NASDAQ: ALVR) announced that it was discontinuing the posoleucel Phase 3 studies over efficacy concerns and stated that it would explore strategic alternatives for the Company. Specifically, AlloVir said it was discontinuing the posoleucel Phase 3 studies after pre-planned analyses concluded they wouldn’t meet their primary endpoints.
Shares of AlloVir, Inc. (NASDAQ: ALVR) declined from $2.395 per share on December 07, 2023, to as low as $0.639 per share.
According to the complaint the plaintiff alleges on behalf of purchasers of AlloVir, Inc. (NASDAQ: ALVR) common shares between March 22, 2022 and December 21, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 22, 2022 and December 21, 2023, the defendants made false and/or misleading statements and/or failed to disclose that the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints, that as a result, it was likely that the Company would ultimately discontinue the posoleucel Phase 3 studies, that accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased shares of AlloVir, Inc. (NASDAQ: ALVR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
