CAMBRIDGE, Mass., July 30, 2020 (GLOBE NEWSWIRE) -- AlloVir, Inc. (Nasdaq: ALVR), a late clinical-stage cell therapy company, today announced the pricing of its upsized initial public offering of 16,250,000 shares of common stock at a public offering price of $17.00 per share, before underwriting discounts and commissions. AlloVir’s common stock is expected to begin trading on The Nasdaq Global Market on July 30, 2020 under the ticker symbol “ALVR.” All of the common stock is being offered by AlloVir. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AlloVir, are expected to be $276.25 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on August 3, 2020, subject to satisfaction of customary closing conditions. AlloVir has granted the underwriters a 30-day option to purchase up to an additional 2,437,500 shares of AlloVir’s common stock at the initial public offering price, less underwriting discounts and commissions.

Morgan Stanley, J.P. Morgan, SVB Leerink and Piper Sandler & Co. are acting as joint book-running managers for the offering.

About AlloVir

AlloVir is a leading late clinical-stage cell therapy company with a focus on restoring natural immunity against life-threatening viral diseases in patients with severely weakened immune systems. The company’s innovative and proprietary technology platforms leverage off-the-shelf, allogeneic, multi-virus specific T cells targeting devastating viruses for patients with T cell deficiencies who are at risk from the life-threatening consequences of viral diseases. AlloVir’s technology and manufacturing process enables 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.