AlloVir Inc (NASDAQ: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.
