Allovir Q1 2023 Earnings Report
Key Takeaways
AlloVir reported a net loss of $41.2 million, or $0.44 per share, for the first quarter of 2023. The company's research and development expenses were $30.7 million, while general and administrative expenses were $12.5 million. As of March 31, 2023, AlloVir had cash, cash equivalents, and short-term investments of $202.6 million.
Three Phase 3 global registrational trials for posoleucel continue to enroll, with data readouts expected in 2024.
Positive results from a Phase 2 study of posoleucel in kidney transplant recipients with BK viremia will be presented at the American Transplant Congress 2023.
Research and development expenses increased to $30.7 million for the quarter ended March 31, 2023.
AlloVir had cash, cash equivalents, and short-term investments of $202.6 million as of March 31, 2023.
Allovir
Allovir
Forward Guidance
AlloVir expects operating expenses to be in the range of $150 million to $170 million for fiscal year 2023, excluding non-cash expenses.