AlloVir Reports Second Quarter 2021 Financial Results - Posoleucel (Viralym-M, ALVR105) proof-of-concept studies in multi-virus prevention in stem cell transplant patients and BK viremia in kidney transplant patients con

AlloVir Reports Second Quarter 2021 Financial Results

- Posoleucel (Viralym-M, ALVR105)

proof-of-concept studies in multi-virus prevention in stem cell transplant patients and BK viremia in kidney transplant patients continue to progress with initial data

- Posoleucel Phase 3 pivotal trial in virus-associated hemorrhagic cystitis continues to

proof-of-concept study in respiratory syncytial virus, influenza, human metapneumovirus, and parainfluenza expected to initiate in 2H21

Cambridge, MA, August 6, 2021 AlloVir (Nasdaq: ALVR), a late clinical-stage cell therapy company, today reported financial

results for the second quarter ended June 30, 2021.

We believe virus-specific T-cell therapies can

have a meaningful impact in treating as well as preventing multiple devastating viral infections. This approach is groundbreaking in the field of stem cell transplantation and has the potential to transform care for patients and health care

providers, said Dr. Diana Brainard, Chief Executive Officer of AlloVir. We are pleased with the progress of our

first-of-its-kind posoleucel (Viralym-M, ALVR105) multi-virus prevention clinical trial in allogeneic hematopoietic stem cell

transplant recipients and look forward to sharing initial results from that study later this year. In addition, enrollment continues to progress in our posoleucel BK viremia in kidney transplant proof-of-concept study, as well as our registrational study in virus-associated hemorrhagic cystitis.

Business Updates and Upcoming Milestones

Quarter Business and Scientific Milestones

2021 Near-Term Priorities Across Programs

Second Quarter 2021 Financial Highlights

AlloVir is a leading 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. The company s innovative and proprietary technology platforms leverage off-the-shelf, allogeneic, single, and

multi-virus-specific T-cells targeting devastating viruses for patients with T-cell deficiencies who are at risk from the life-threatening consequences of viral

diseases. AlloVir s technology and manufacturing process enable the potential for the treatment and prevention of a spectrum of devastating viruses with each single allogeneic cell therapy. The company is advancing multiple mid- and late-stage clinical trials across its product portfolio. For more information visit www.allovir.com.

Forward-Looking Statements

This press release contains

forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding AlloVir s development and regulatory status of our product candidates, the

planned conduct of its preclinical studies, and clinical trials and its prospects for success in those studies and trials, and its strategy, business plans and focus. The words may, will, could, would,

should, expect, plan, anticipate, intend, believe, estimate, predict, project, potential, continue,

target and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on

management s current expectations and beliefs and are subject to a number of risks, uncertainties, and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking

statements contained in this press release, including, without limitation, those related to AlloVir s financial results, the timing for the initiation and successful completion of AlloVir s clinical trials of its product candidates,

whether and when, if at all, AlloVir s product candidates will receive approval from the U.S. Food and Drug Administration, or FDA, or other foreign regulatory authorities, competition from other biopharmaceutical companies, the impact of the COVID-19 pandemic on AlloVir s product development plans, supply chain, and business operations and other risks identified in AlloVir s SEC filings. AlloVir cautions you not to place undue reliance on any

forward-looking statements, which speak only as of the date they are made. AlloVir disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions, or circumstances on which

any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent AlloVir s views

only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited, in thousands)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands, except share and per share data)