Why AlloVir Stock Is Surging Today

AlloVir Inc ALVR shares are trading higher Wednesday after the company announced the U.S. Food and Drug Administration granted Regenerative Medicine Advanced Therapy designation to its lead investigational multi-virus-specific T cell therapy, posoleucel.

The posoleucel designation is for the prevention of clinically significant infections and disease from six devastating viruses that commonly impact high-risk adult and pediatric patients following allogeneic hematopoietic cell transplants: adenovirus, BK virus, cytomegalovirus, Epstein-Barr virus, human herpes virus-6 and JC virus. 

AlloVir noted that this is the third Regenerative Medicine Advanced Therapy designation the FDA has granted for posoleucel.

AlloVir is a late clinical-stage cell therapy company with a focus on restoring natural immunity against life-threatening viral diseases in pediatric and adult patients with weakened immune systems.

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ALVR 52-Week Range: $5.19 - $26.41

According to data from Benzinga Pro, the stock was up 31.4% at $7.09 at press time.

Photo: fernandozhiminaicela from Pixabay.