Vor Bio launches $100 million common stock offering

BOSTON - Vor Biopharma Inc. (NASDAQ:VOR) announced Monday it has commenced an underwritten public offering of $100 million of common stock shares. The clinical-stage biotechnology company also plans to grant underwriters a 30-day option to purchase up to an additional $15 million of shares. With a current market capitalization of just $129.54 million, this offering represents a significant capital raise for the company, which according to InvestingPro data is "quickly burning through cash" despite holding more cash than debt on its balance sheet.

J.P. Morgan, Jefferies, Citigroup and TD Cowen are serving as joint book-running managers for the proposed offering. All shares in the offering will be sold by Vor Bio.

The company noted that the offering is subject to market and other conditions, with no guarantee regarding completion timing, final size, or terms.

Vor Bio, which focuses on developing treatments for autoimmune diseases, is currently advancing telitacicept, a dual-target fusion protein, through Phase 3 clinical development. The company aims to potentially commercialize this treatment for serious autoantibody-driven conditions. With a strong current ratio of 3.49, Vor Bio's liquid assets exceed its short-term obligations, providing some financial flexibility as it pursues clinical development. Investors should note that the company is set to report earnings on November 14, according to InvestingPro, which offers comprehensive analysis and 14 additional ProTips about Vor's financial health.

The shares will be offered pursuant to a shelf registration statement that was declared effective by the Securities and Exchange Commission on March 31, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC.

The announcement comes as Vor Bio continues its clinical development work in the autoimmune disease space. According to the press release statement, the company is focused on "transforming the treatment of autoimmune diseases" through its development pipeline.

In other recent news, Vor Biopharma announced a $100 million public offering of common stock, with an option for underwriters to purchase an additional $15 million worth of shares. This move is set to raise capital for the clinical-stage biotechnology company. Vor Bio also reported promising results from its Phase 3 clinical study in China for telitacicept, a drug for IgA nephropathy, which showed a 55% reduction in proteinuria compared to placebo. Additionally, the drug met all key secondary endpoints, including stabilization of kidney function and higher rates of disease remission.

Vor Bio has appointed Jeremy Sokolove, M.D., as its new Chief Medical Officer, bringing over 20 years of experience in rheumatology and autoimmune disease research. Furthermore, the company shared positive 48-week extension data from a Phase 3 study of telitacicept in patients with generalized myasthenia gravis, where all patients showed improvement on the Myasthenia Gravis Activities of Daily Living scale. Vor Bio plans to host a webcast to present 48-week Phase 3 clinical data for telitacicept in primary Sjögren's disease, featuring a discussion with RemeGen Co. and Professor Ronald van Vollenhoven. These developments highlight Vor Bio's ongoing efforts in advancing its therapeutic pipeline.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.