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Investing.com - H.C. Wainwright upgraded Vor Biopharma , Inc. (NASDAQ:VOR) from Neutral to Buy with a price target of $3.00 following the company’s exclusive licensing agreement with RemeGen Co., Ltd. The upgrade comes as Vor’s stock has surged over 265% in the past week, with the company currently valued at $132.46 million.
Vor announced on June 25 that it entered into an exclusive license agreement with RemeGen to develop and commercialize telitacicept, a recombinant fusion protein targeting BlyS and APRIL, in territories outside Greater China. Under the agreement, RemeGen will receive an upfront payment of $125 million, consisting of $45 million in cash and $80 million in warrants. According to InvestingPro data, Vor maintains a healthy current ratio of 3.88, with more cash than debt on its balance sheet, suggesting financial capacity for such deals.
The deal could potentially yield over $4 billion in regulatory and commercial milestone payments to RemeGen, along with tiered royalties upon successful commercialization. Telitacicept has already received marketing approvals in China for systemic lupus nephritis in November 2023, rheumatoid arthritis in July 2024, and generalized myasthenia gravis in May 2025.
RemeGen has initiated a randomized, double-blinded, placebo-controlled Phase 3 study with telitacicept for generalized myasthenia gravis in the U.S., EU, and South America, with initial data expected in the first half of 2027. If successful, Vor could potentially begin commercialization in the U.S. by mid-2028.
H.C. Wainwright cited the "quick resurrection of the company" and the acquisition of a "de-risked asset" as key factors in its upgrade decision, noting that the transaction strengthens Vor’s asset portfolio, finances, and management. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 13 additional ProTips available to subscribers, offering deeper insights into Vor’s financial health and market positioning.
In other recent news, Vor Biopharma has announced a significant development with the acquisition of exclusive global rights to telitacicept, a dual-target fusion protein for autoimmune diseases, from RemeGen Co., Ltd. This agreement involves an initial payment of $125 million, including a $45 million upfront payment and $80 million in stock warrants, with additional potential regulatory and commercial milestones exceeding $4 billion. The company also secured $175 million in private placement financing, which will help advance its clinical pipeline, including the development of telitacicept. In conjunction with these strategic moves, Vor Biopharma appointed Jean-Paul Kress, M.D., as the new Chief Executive Officer and Chairman of the Board. Dr. Kress replaces Robert Ang, who will stay on as a strategic advisor through October 2025. Furthermore, Stifel has maintained its Hold rating on Vor Biopharma, acknowledging the company’s strategic shift from early-stage oncology to late-stage autoimmune disease. The firm noted the promising potential of telitacicept’s dual-targeting mechanism in various autoimmune diseases. These developments mark a pivotal moment for Vor Biopharma as it navigates its strategic repositioning in the biotech sector.
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