AlloVir (ALVR) said Friday it signed a definitive agreement to merge with Kalaris Therapeutics (KLRS) in an all-stock transaction.

The combined company will take on the name of Kalaris Therapeutics and is expected to trade on Nasdaq under the ticker symbol "KLRS," AlloVir said.

It will have around $100 million in cash upon closing, AlloVir said, adding that the cash is expected to fund the combined company's operations through Q4 of 2026.

AlloVir will acquire all of Kalaris' outstanding equity interest and said its shareholders will own around 25% of the combined company when the transaction closes, while shareholders of pre-merger Kalaris will own roughly 75%.