--- title: "Kalaris Therapeutics closes merger with AlloVir" url: "https://aibio.space/news/kalaris-therapeutics-closes-merger-allovir-stock-trades-klrs-march-19/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-03-18" section: "Mergers" tickers: "NASDAQ:KLRS" source: "https://www.sec.gov/Archives/edgar/data/1754068/000119312525056725/d925335dex991.htm" summary: "Pre-merger Kalaris holders own about 74.47% of the combined company. Cash of about $100 million is expected to last into the fourth quarter of 2026." --- By the aibio.space news desk. Sources - [Kalaris Therapeutics, Inc. 8-K (2025-03-18)](https://www.sec.gov/Archives/edgar/data/1754068/000119312525056725/d925335dex991.htm) [KLRS](https://aibio.space/companies/kalaris-therapeutics/) 2025-03-18 # Kalaris Therapeutics closes merger with AlloVir; stock trades as KLRS from March 19, 2025 Tickers [KLRS](https://aibio.space/companies/kalaris-therapeutics/) Pre-merger Kalaris holders own about 74.47% of the combined company. Cash of about $100 million is expected to last into the fourth quarter of 2026. ## Key facts - **Company**: Kalaris Therapeutics, Inc. (NASDAQ: KLRS) - **News type**: Mergers - **Primary source**: [Kalaris Therapeutics, Inc. 8-K (2025-03-18)](https://www.sec.gov/Archives/edgar/data/1754068/000119312525056725/d925335dex991.htm) *A downtown skyline with a highway in the foreground. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* ## The closing and the share count Kalaris Therapeutics, Inc. said in a press release dated March 18, 2025, filed with an 8-K, that it had completed its merger with AlloVir, Inc. The combined company will operate under the Kalaris name. Its shares are expected to begin trading on The Nasdaq Global Market on March 19, 2025, under the symbol "KLRS." Immediately after the closing, about 18,702,413 shares of the combined company's common stock were outstanding. On a fully diluted basis, pre-merger Kalaris stockholders own about 74.47% of the company and pre-merger AlloVir stockholders own about 25.53%. The release does not give the exchange ratio, so the split cannot be checked against the deal terms. AlloVir had already reduced its share count before the deal. On January 15, 2025, it effected a 1-for-23 reverse stock split, combining every 23 shares of common stock into one share. AlloVir's annual report on Form 10-K, filed March 7, 2025, describes that split and the pending merger. ## TH103 and an early trial Kalaris is developing TH103, which the release calls a novel, differentiated anti-VEGF agent. Dr. Napoleone Ferrara developed it. It is a fully humanized, recombinant fusion protein that acts as a decoy receptor for VEGF, and the company says it was engineered for longer retention in the retina. The release says TH103 has shown potent anti-VEGF activity and sustained ocular residence time in preclinical studies, but it gives no preclinical figures. The clinical test is an ongoing Phase 1 open-label trial in treatment-naive patients with neovascular age-related macular degeneration. Enrollment in Part 1 began in August 2024, and Kalaris expects initial Part 1 data in the second half of 2025. The trial is designed to evaluate safety, pharmacodynamics and pharmacokinetics, to determine the optimal dose, and to assess preliminary evidence of a treatment effect. An open-label design has no control arm, and the release gives no enrollment target or efficacy endpoint. The company also plans to develop TH103 for diabetic macular edema and retinal vein occlusion, but the release reports no data in either disease. So the first read on whether the drug works will come from a stage that the release itself describes as an assessment of preliminary evidence, with safety and dose selection as the main aims. Phase 2 is planned, but the release gives no start date for it. ## Cash, runway and the older risk factors The combined company had cash and cash equivalents of about $100 million at closing. Kalaris expects that to fund operating expenses and capital expenditure requirements into the fourth quarter of 2026. Andrew Oxtoby, the Kalaris chief executive, said the deal would provide the money to continue development of TH103 "beyond the initiation of our planned Phase 2 clinical trial." The release does not give a start date for that trial, its size or its cost, so it does not show whether the cash reaches it. The AlloVir annual report reads differently from the closing release. It says the company has incurred net losses since its inception, expects significant losses for the foreseeable future, and may never achieve or maintain profitability. It says it will need substantial additional funding, and that without it the company could be forced to delay, reduce or eliminate its programs. The same filing describes a different business. Its risk factors call AlloVir "a clinical-stage cell therapy company" with allogeneic, off-the-shelf virus-specific T cell therapies. It says the company depends on intellectual property licensed from Baylor College of Medicine, and that terminating those licenses could cost it significant rights. The closing release mentions neither the Baylor licenses nor the T cell programs. The release names the people and advisers. Andrew Oxtoby leads the combined company with other Kalaris managers. Leerink Partners was exclusive financial advisor to AlloVir, and Goodwin Procter LLP was AlloVir's legal counsel. Wilmer Cutler Pickering Hale and Dorr LLP is legal counsel to Kalaris. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story KLRS Kalaris Therapeutics, Inc. 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Cite as: aibio.space, "Kalaris Therapeutics closes merger with AlloVir", 2025-03-18, https://aibio.space/news/kalaris-therapeutics-closes-merger-allovir-stock-trades-klrs-march-19/