CAMBRIDGE, Mass., Aug. 03, 2020 (GLOBE NEWSWIRE) -- AlloVir, Inc. (Nasdaq: ALVR), a late clinical-stage cell therapy company, today announced the closing of its upsized initial public offering of 18,687,500 shares of common stock, which includes the exercise in full of the underwriters’ option to purchase up to 2,437,500 additional shares of common stock, at a public offering price of $17.00 per share, before underwriting discounts and commissions. All of the common stock was offered by AlloVir. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AlloVir, were approximately $317.7 million. AlloVir’s common stock is listed on The Nasdaq Global Market under the ticker symbol “ALVR.”

Morgan Stanley, J.P. Morgan, SVB Leerink and Piper Sandler & Co. acted 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.