AlloVir Shares Slide Premarket on Reverse Merger With Kalaris Therapeutics

Dow Jones
2024-11-08
 

By Colin Kellaher

 

Shares of AlloVir tumbled in premarket trading Friday after the immunotherapy company said it has agreed to an all-stock reverse merger with clinical-stage biopharmaceutical company Kalaris Therapeutics.

AlloVir said Kalaris investors will own about 75% of the combined company upon completion of the deal, slated for the first quarter of 2025, while its current shareholders would own about 25%.

Shares of the Waltham, Mass., company, which closed Thursday at about 98 cents, were recently down 27% at 71.5 cents in premarket trading.

AlloVir said the combined company, which will focus on diseases of the retina, will have about $100 million in cash at closing, and a runway to fund its operating expenses and capital-spending needs into the fourth quarter of 2026.

A reverse merger allows a private company to go public by merging with a public one at a lower cost than is involved in traditional initial public offerings.

AlloVir said the combined company will operate as Kalaris Therapeutics and trade on Nasdaq under the symbol KLRS.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

November 08, 2024 08:07 ET (13:07 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10