Allovir Inc (ALVR)

AlloVir Inc (ALVR) stock dropped by 67.15% due to a critical announcement made by the company regarding the outcome of its Phase 3 clinical trials. AlloVir announced that it had failed in multiple Phase 3 clinical trials, with separate futility analyses indicating that the drug was unlikely to achieve its primary endpoints. In response to these findings, AlloVir made the decision to discontinue all three Phase 3 trials and revealed its intention to assess various options for the program. The announcement of these unfavorable trial results had a substantial negative impact on AlloVir's stock price on that day.