According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- the global phase 3 studies of its lead product posoleucel for the prevention of life-threatening viral infections (the “posoleucel Phase 3 Studies”) were unlikely to meet their primary endpoints;
- as a result, it was likely that AlloVir would ultimately discontinue the posoleucel phase 3 studies;
- accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel; and
- as a result, AlloVir’s public statements were materially false and misleading at all relevant times.
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