AlloVir (NASDAQ:ALVR) stock is taking off on Wednesday following an update from the U.S. Food and Drug Administration (FDA) on posoleucel.
Posoleucel is AlloVir’s lead investigational multi-virus-specific T cell therapy designed to prevent “clinically significant infections and disease from six devastating viruses that commonly impact high-risk adult and pediatric patients following allogeneic hematopoietic cell transplant.” That includes adenovirus, BK virus, cytomegalovirus, Epstein-Barr virus, human herpes virus-6, and JC virus.
The big news today is the FDA granting posoleucel Regenerative Medicine Advanced Therapy (RMAT) designation. It’s worth noting that this is the third RMAT designation that the FDA has granted to posoleucel.
The post Why Is AlloVir (ALVR) Stock Up 30% Today? originally appeared at InvestorPlace.