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Dec 31, 2022
Allovir Q4 2022 Earnings Report
AlloVir reported full-year financial results and provided 2023 outlook.
Key Takeaways
AlloVir reported its full-year 2022 financial results, highlighting the progress of its allogeneic, off-the-shelf, virus-specific T cell (VST) programs and providing an outlook for 2023 and into 2024. The company's cash position remains strong, with $233.8 million as of year-end 2022.
Enrollment completion of all three posoleucel Phase 3 registrational trials is expected by the end of 2023, with data readouts in 2024.
Positive final results were announced from a Phase 2 study of posoleucel in kidney transplant recipients with BK viremia.
The company plans to complete enrollment in its Phase 3 registrational studies during 2023, enabling data readouts in 2024.
Final data from a Phase 2 study evaluating posoleucel for the prevention of clinically significant viral infections in allo-HCT patients was presented at the ASH Annual Meeting and Exposition in December 2022.
Forward Guidance
AlloVir anticipates completing enrollment in Phase 3 registrational trials by the end of 2023, which would enable data readouts in 2024. For fiscal year 2023, AlloVir expects operating expenses to be in the range of $150 million to $170 million, excluding non-cash expenses.
Positive Outlook
- Completion of enrollment of all three posoleucel Phase 3 registrational trials anticipated by end of 2023
- Data readouts in 2024
- Global enrollment is ongoing in Phase 3 studies of posoleucel for the treatment of virus-associated hemorrhagic cystitis and adenovirus infection.
- Both studies are expected to complete enrollment by year-end 2023, with topline data anticipated in 2024.
- The company plans to present comprehensive results from the BKV Phase 2 study at a scientific congress later this year.
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