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ALLOVIR, INC. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES

AlloVir, Inc.

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired AlloVir, Inc. (“AlloVir” or the “Company”) (NASDAQ: ALVR) securities between March 22, 2022 and December 21, 2023, inclusive. The lawsuit seeks to recover AlloVir shareholders’ investment losses.

If you purchased securities in AlloVir between March 22, 2022 and December 21, 2023, inclusive, and would like to discuss your legal rights and/or options, please click “Join Class Action” above.

According to the Complaint, AlloVir, 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 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”).

Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints; (ii) as a result, it was likely that the Company would ultimately discontinue the posoleucel Phase 3 studies; and (iii) accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel.

On December 22, 2023, AlloVir 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.

On this news, AlloVir’s stock price fell $1.57 per share, or 67.38%, to close at $0.76 per share on December 22, 2023.

If you wish to serve as lead plaintiff, you must move the Court no later than March 19, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

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Contact Information:

Peter Allocco
Paralegal
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com