$ALVR
Allovir, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020042354 Filed on September 02, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.720M $3.270M
YoY Change
% of Gross Profit
Research & Development $17.18M $8.885M $2.755M
YoY Change 203.84% 222.5%
% of Gross Profit
Depreciation & Amortization $20.00K $20.00K
YoY Change
% of Gross Profit
Operating Expenses $23.90M $12.15M $5.945M
YoY Change 181.91% 104.42%
Operating Profit -$23.90M -$12.15M
YoY Change 181.91%
Interest Expense $110.0K $170.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $174.0K $355.0K $140.0K
YoY Change -59.25% 153.57%
Pretax Income -$23.61M -$11.63M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$23.60M -$11.63M -$5.302M
YoY Change 224.62% 119.39%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$382.9K -$168.1K
COMMON SHARES
Basic Shares Outstanding 21.57M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $378.5M $104.5M
YoY Change
Cash & Equivalents $142.3M $78.27M $41.43M
Short-Term Investments $236.2M $26.18M
Other Short-Term Assets $4.900M $2.400M
YoY Change
Inventory
Prepaid Expenses
Receivables $200.0K $400.0K
Other Receivables $400.0K $0.00
Total Short-Term Assets $383.9M $107.3M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $9.800M $313.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.800M $10.56M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $383.9M $107.3M
Total Long-Term Assets $9.800M $10.56M
Total Assets $393.7M $117.8M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $680.0K
YoY Change
Accrued Expenses $11.00M $4.546M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.50M $8.915M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.300M $7.100M
YoY Change
Total Long-Term Liabilities $6.300M $7.100M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.50M $8.915M
Total Long-Term Liabilities $6.300M $7.100M
Total Liabilities $19.80M $16.01M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$76.29M
YoY Change
Common Stock $7.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $373.9M -$71.29M -$36.65M
YoY Change
Total Liabilities & Shareholders Equity $393.7M $117.8M
YoY Change

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$23.60M -$11.63M -$5.302M
YoY Change 224.62% 119.39%
Depreciation, Depletion And Amortization $20.00K $20.00K
YoY Change
Cash From Operating Activities -$18.06M -$11.12M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$210.3M $25.00M
YoY Change
Cash From Investing Activities -$210.3M $25.00M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 292.3M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -18.06M -11.12M
Cash From Investing Activities -210.3M 25.00M
Cash From Financing Activities 292.3M 0.000
Net Change In Cash 64.01M 13.88M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$18.06M -$11.12M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78267000
CY2020Q2 us-gaap Short Term Investments
ShortTermInvestments
26184000
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
64993000
CY2020Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
58000
CY2020Q2 us-gaap Grants Receivable Current
GrantsReceivableCurrent
354000
CY2019Q4 us-gaap Grants Receivable Current
GrantsReceivableCurrent
298000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
313000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
350000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10245000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11759000
CY2020Q2 us-gaap Assets
Assets
117846000
CY2019Q4 us-gaap Assets
Assets
139422000
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
680000
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
630000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4546000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5163000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3147000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3067000
CY2020Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
542000
CY2019Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
246000
CY2020Q2 us-gaap Liabilities Current
LiabilitiesCurrent
8915000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
9106000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7098000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8692000
CY2020Q2 us-gaap Liabilities
Liabilities
16013000
CY2019Q4 us-gaap Liabilities
Liabilities
17798000
CY2019Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3748000
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
68000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-55319000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-51503000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
139422000
CY2020Q2 us-gaap Assets Current
AssetsCurrent
107288000
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2801859
CY2019Q4 us-gaap Assets Current
AssetsCurrent
127313000
CY2020Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4886000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
110000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-76290000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-71294000
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
117846000
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61084000
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2425000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
676000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6559348
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6502929
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2099740
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
165000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8885000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2755000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15724000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3906000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3268000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3190000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6269000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4977000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
12153000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
5945000
us-gaap Operating Expenses
OperatingExpenses
21993000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-12153000
us-gaap Operating Income Loss
OperatingIncomeLoss
-8718000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
503000
us-gaap Investment Income Interest
InvestmentIncomeInterest
623000
us-gaap Investment Income Interest
InvestmentIncomeInterest
619000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
355000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
140000
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Local Phone Number
LocalPhoneNumber
433-2605
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
21574585
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity File Number
EntityFileNumber
001-39409
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
83-1971007
dei Entity Address Address Line1
EntityAddressAddressLine1
139 Main Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 500
dei Entity Address City Or Town
EntityAddressCityOrTown
Cambridge
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02142
dei City Area Code
CityAreaCode
617
CY2019Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
262000
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
399000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
273000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-11632000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-5302000
us-gaap Net Income Loss
NetIncomeLoss
-20971000
us-gaap Net Income Loss
NetIncomeLoss
-7826000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.43
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-5.05
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-8.66
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-8.49
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2625648
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1050190
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2420797
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
921995
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-134000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
129000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
42000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
129000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-134000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
129000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
42000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
129000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11766000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5173000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20929000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7697000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-30622000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
231000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-2524000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
-32915000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1441000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-36647000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
176000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
646000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-9339000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-60020000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
492000
us-gaap Profit Loss
ProfitLoss
-20971000
us-gaap Profit Loss
ProfitLoss
-7826000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37000
alvr Accretion Of Discounts On Short Term Investments
AccretionOfDiscountsOnShortTermInvestments
-7000
alvr Accretion Of Discounts On Short Term Investments
AccretionOfDiscountsOnShortTermInvestments
148000
us-gaap Share Based Compensation
ShareBasedCompensation
1138000
us-gaap Share Based Compensation
ShareBasedCompensation
1672000
alvr Increase Decrease In Subscription Receivable And Unbilled Grants Receivable
IncreaseDecreaseInSubscriptionReceivableAndUnbilledGrantsReceivable
56000
alvr Increase Decrease In Subscription Receivable And Unbilled Grants Receivable
IncreaseDecreaseInSubscriptionReceivableAndUnbilledGrantsReceivable
-159000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-204000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
254000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1749000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
378000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-271000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2049000
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-158000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21661000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4884000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
225000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
26156000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
99344000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
65000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
38844000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-99569000
alvr Unrealized Gain On Short Term Investments
UnrealizedGainOnShortTermInvestments
129000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6890000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of the Business </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AlloVir, Inc., (&#8220;AlloVir&#8221; or &#8220;the Company&#8221;, formerly known as ViraCyte, Inc.) is a leading late, clinical-stage cell therapy company developing highly innovative allogeneic T&#160;cell therapies to treat and prevent devastating viral diseases. The Company&#8217;s innovative and proprietary virus-specific T cell, or VST, therapy platform allows AlloVir to generate off-the-shelf VSTs designed to restore immunity in patients with T&#160;cell deficiencies who are at risk from the life-threatening consequences of viral diseases. There is an urgent medical need for therapies to treat a large number of patients suffering from viral diseases who currently have limited or no treatment options. To date, the Company has generated five innovative, allogeneic, off-the-shelf VST therapy candidates targeting 12 different devastating viruses, the most advanced of which has successfully completed a proof-of-concept trial across five viruses and is entering initial pivotal trials for the treatment of virus-associated hemorrhagic cystitis in the fourth quarter of 2020. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s lead product candidate, Viralym-M, is a multi-VST cell therapy that targets five viruses: BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus and human herpesvirus 6. To fully explore the clinical benefit of Viralym-M, the Company plans to initiate a total of three Phase&#160;3 pivotal and three Phase&#160;2 proof-of-concept trials in 2020 and 2021 for the treatment and prevention of life-threatening viral diseases in pediatric and/or adult patients, each representing a potential meaningful commercial opportunity. In addition, the Company anticipates filing an Investigational New Drug, or IND, application with the FDA in the second half of 2020 for its second cell therapy, ALVR106, an allogeneic, off-the-shelf, VST therapy designed to target severe respiratory diseases caused by four respiratory viruses: respiratory syncytial virus, influenza, parainfluenza virus and human metapneumovirus. The Company plans to initiate a Phase 1/2 clinical study in autologous and allogeneic hematopoietic stem cell transplant patients with respiratory viral diseases in the fourth quarter of 2020. We own worldwide development and commercialization rights to our cell therapies. Pursuant to the Company&#8217;s sponsored research agreement with Baylor College of Medicine (&#8220;BCM&#8221;), the Company anticipates BCM will initiate a proof-of-concept trial for ALVR109, an allogeneic, off-the-shelf VST therapy designed to target SARS-CoV-2, the virus that causes the severe and life-threatening viral disease, COVID-19. ALVR109 is being developed to arrest the progression of COVID-19 by eradicating SARS-CoV-2 virus-infected cells. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company was formed on August&#160;16, 2013 as a Delaware limited liability company (&#8220;LLC&#8221;) under the name AdCyte LLC and on July&#160;29, 2014 the Company changed its name to ViraCyte LLC. On September&#160;17, 2018, the Company converted from a Delaware LLC to a Delaware corporation (the &#8220;LLC Conversion&#8221;) and changed its name to ViraCyte, Inc. On May&#160;22, 2019, the Company changed its name to AlloVir, Inc. The Company has principal offices in Houston, Texas and Cambridge, Massachusetts. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August&#160;8, 2019, AlloVir formed AlloVir International Designated Activity Company (&#8220;AlloVir International&#8221;), a wholly-owned subsidiary established in Ireland. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October&#160;9, 2019, AlloVir Securities Corporation was incorporated as a Massachusetts Security Corporation, a wholly-owned subsidiary of AlloVir. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November&#160;10, 2019, AlloVir International formed AlloVir Italia S.R.L. (&#8220;AlloVir Italia&#8221;), a wholly-owned subsidiary in Italy. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 3, 2020, the Company completed an initial public offering (&#8220;IPO&#8221;) in which the Company issued and sold 18,687,500 shares of its common stock, at a public offering price of $17.00 per share, resulting in gross proceeds of $317.7 million. The Company received approximately $292.4 million in net proceeds after deducting underwriting discounts and commissions and offering costs. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In connection with the IPO, <font style="Background-color:#FFFFFF;">the Company effected a 1-for-1.49020520953831 reverse stock split of the Company&#8217;s common stock and adjusted the ratio at which the Company&#8217;s preferred stock is convertible into common stock, as well as the number of shares under the 2018 Equity Incentive Plan (&#8220;2018 Plan&#8221;), as well as the share amounts of restricted stock grants under the 2018 Plan and the number of options and exercise prices of options under the 2018 Plan as a result of the 1-for-1.49020520953831 reverse stock split. Accordingly, all common shares, stock options, and per share information presented in the accompanying condensed consolidated financial statements and notes thereto have been adjusted, where applicable, to reflect the reverse stock split on a retroactive basis for all periods presented. The per share par value and authorized number of shares of the Company&#8217;s common stock were not adjusted as a result of the split.</font></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Upon the closing of the IPO, all of the then-outstanding shares of convertible preferred stock automatically converted into 39,859,139 shares of common stock at the applicable conversion ratio then in effect. Subsequent to the closing of the IPO, there were no shares of convertible preferred stock outstanding. The condensed consolidated financial statements as of June 30, 2020, including share and per share amounts, do not give effect to the IPO, as it closed subsequent to June 30, 2020.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">ElevateBio, LLC </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September&#160;17, 2018, the Company executed a Series A2 Preferred Stock Purchase Agreement (&#8220;Series&#160;A2 Agreement&#8221;) with ElevateBio, LLC, a Delaware LLC (&#8220;ElevateBio&#8221;) concurrent with the LLC Conversion. ElevateBio was formed on November&#160;29, 2017 and is headquartered in Cambridge, Massachusetts with a focus on the development of a portfolio of novel cell therapy programs acquired through business development activities with biotechnology companies. ElevateBio is structured as a holding company, comprised of asset-specific subsidiaries focused on the development of pipeline assets, as well as a manufacturing subsidiary with the expertise to provide drug development and manufacturing services. As a result of the purchase of the Company&#8217;s Series A2 Preferred Stock, ElevateBio acquired an ownership interest in the Company. The Chief Executive Officer, Chief Financial Officer, and other executives of ElevateBio also serve in similar management roles with AlloVir. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Going Concern </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In accordance with Accounting Standards Update (&#8220;ASU&#8221;) 2014-15,<font style="font-style:italic;">&#160;Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern (Subtopic 205-40)</font>, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date the condensed consolidated financial statements are issued. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance and reporting capabilities. Even if the Company&#8217;s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company believes that its $104.5&#160;million of cash, cash equivalents and short-term investments held at June 30, 2020 in addition to the proceeds from the IPO, are sufficient to fund planned operations for at least twelve months from the date that these condensed consolidated financial statements are available to be issued. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. Through June 30, 2020, the Company has funded its operations primarily with proceeds received from capital contributions, research grants and from the sale of preferred stock. The Company has incurred recurring losses since its inception, including net losses attributable to AlloVir common stockholders of $11.6 million and $5.3 million for the three months ended June 30, 2020 and 2019, respectively and $21.0 million and $7.8&#160;million for the six months ended June 30, 2020 and 2019, respectively. In addition, at June 30, 2020, the Company had an accumulated deficit of $76.3&#160;million. The Company expects to continue to generate operating losses for the foreseeable future. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the condensed consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">COVID-19 Considerations </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The development of product candidates could be disrupted and materially adversely affected in the future by a pandemic, epidemic or outbreak of an infectious disease, such as the recent COVID-19 pandemic. The spread of COVID-19 has impacted the global economy and has impacted the Company&#8217;s operations, including the interruption of preclinical and clinical trial activities and potential interruption to the Company&#8217;s supply chain. For example, the COVID-19 pandemic has delayed clinical trials. If the disruption due to the COVID-19 pandemic continues, planned pivotal clinical trials also could be delayed due to government orders and site policies on account of the pandemic, and some patients may be unwilling or unable to travel to study sites, enroll in trials or be unable to comply with clinical trial protocols if quarantines impede patient movement or interrupt healthcare services, which would delay the Company&#8217;s ability to conduct preclinical studies and clinical trials or release clinical trial results and could delay the Company&#8217;s ability to obtain regulatory approval and commercialize product candidates. Furthermore, COVID-19 could affect the Company&#8217;s employees or the employees of research sites and service providers on whom the Company relies on as well as those of companies with which the Company does business, including suppliers and contract manufacturing organizations or CMOs, thereby disrupting business operations. Quarantines and travel restrictions imposed by governments in the jurisdictions in which the Company and the companies with which it does business operate could materially impact the ability of employees to access preclinical and clinical sites, laboratories, manufacturing sites and offices. The Company has implemented work-at-home policies and only employees essential to the development and research of product candidates remain on-site at the Company&#8217;s research and manufacturing facilities; accordingly, the Company may experience limitations in employee resources. The outbreak and any other preventative or protective actions that the Company, its suppliers or other third parties with which it has business relationships, or governments may take in respect of the COVID-19 pandemic, could disrupt, delay or otherwise adversely impact the business. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is still assessing business plans and the impact the COVID-19 pandemic may have on its ability to advance the testing, development and manufacturing of drug candidates, including as a result of adverse impacts on the research sites, service providers, vendors, or suppliers on whom the Company relies on, or to raise financing to support the development of our drug candidates. No assurances can be given that this analysis will enable the Company to avoid part or all of any impact from the spread of COVID-19 or its consequences, including downturns in business sentiment generally or this sector in particular. The Company cannot presently predict the scope and severity of any potential business shutdowns or disruptions, but if the Company or any of the third parties on whom it relies on or with whom it conducts business, were to experience shutdowns or other business disruptions, the Company&#8217;s ability to conduct business in the manner and on the timelines presently planned could be materially and adversely impacted. </p>
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
121253000
alvr Payments For Issuance Costs Related To Issuance Of Preferred Stock
PaymentsForIssuanceCostsRelatedToIssuanceOfPreferredStock
330000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
120923000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17183000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16470000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61084000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24960000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78267000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41430000
alvr Unrealized Gain On Short Term Investments
UnrealizedGainOnShortTermInvestments
42000
CY2020Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
79398350
CY2020Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
104500000
CY2020Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1300000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
26067000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
118000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
26184000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64925000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
68000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
64993000
CY2020Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
73134000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
56434000
alvr Lease Expiration Month And Year
LeaseExpirationMonthAndYear
2021-03
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1800000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3600000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
500000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3600000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2100000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11100000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
855000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
10245000
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
2000000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000
us-gaap Operating Lease Payments
OperatingLeasePayments
2400000
us-gaap Operating Lease Payments
OperatingLeasePayments
600000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y29D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0514
CY2020Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
972000
CY2019Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1520000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
770000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
445000
CY2020Q2 alvr Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
2762000
CY2019Q4 alvr Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
3051000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
42000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
147000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2663000
CY2019 alvr Contract With Customer Liability Returned Payments
ContractWithCustomerLiabilityReturnedPayments
2663000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of the common stock are entitled to one vote for each share of common stock held at all meetings of stockholders (and written actions in lieu of meetings), and there are not any cumulative voting rights.
CY2020Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
44091210
CY2020Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
59398350
CY2020Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
59398350
CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
173127000
CY2020Q2 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
188034000
CY2020Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
39859139
CY2019Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
79398350
CY2019Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
59398350
CY2019Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
59398350
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
173127000
CY2019Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
188034000
CY2019Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
39859139
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
44960
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
53683
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
98643
CY2020Q2 alvr Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExercisableNumber
11238
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.01
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.50
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.82
CY2020Q2 alvr Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExercisableWeightedAverageExercisePrice
3.01
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
alvr Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y7M6D
alvr Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Exercisable Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExercisableWeightedAverageRemainingContractualTerm
P9Y3M18D
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1672000
CY2020Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2019Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1441000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1138000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.30
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.895
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0048
CY2020Q2 us-gaap Share Price
SharePrice
4.60
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
492000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2019Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-11632000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5302000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-20971000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-7826000
CY2020Q2 us-gaap Management Fee Expense
ManagementFeeExpense
100000
CY2019Q2 us-gaap Management Fee Expense
ManagementFeeExpense
100000
us-gaap Management Fee Expense
ManagementFeeExpense
400000
us-gaap Management Fee Expense
ManagementFeeExpense
100000

Files In Submission

Name View Source Status
0001564590-20-042354-index-headers.html Edgar Link pending
0001564590-20-042354-index.html Edgar Link pending
0001564590-20-042354.txt Edgar Link pending
0001564590-20-042354-xbrl.zip Edgar Link pending
alvr-10q_20200630.htm Edgar Link pending
alvr-20200630.xml Edgar Link completed
alvr-20200630.xsd Edgar Link pending
alvr-20200630_cal.xml Edgar Link unprocessable
alvr-20200630_def.xml Edgar Link unprocessable
alvr-20200630_lab.xml Edgar Link unprocessable
alvr-20200630_pre.xml Edgar Link unprocessable
alvr-ex311_6.htm Edgar Link pending
alvr-ex312_7.htm Edgar Link pending
alvr-ex321_8.htm Edgar Link pending
alvr-ex322_9.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending