Vor Biopharma Inc. (VOR) Bundle
A Brief History of VOR Biopharma Inc.
Company Overview
VOR Biopharma Inc. is a clinical-stage biotechnology company focused on developing therapies for patients with hematological malignancies. As of 2024, the company has not yet commercialized any products and relies on funding from equity sales and financing activities to support its operations.
Financial Performance
As of September 30, 2024, VOR Biopharma reported a net loss of $27.6 million for the third quarter and $86.2 million for the nine months ended September 30, 2024. This represents a decrease in net loss compared to $33.2 million and $91.6 million for the same periods in 2023, respectively.
| Period | Net Loss (in millions) | Operating Expenses (in millions) |
|---|---|---|
| Q3 2024 | $27.6 | $28.5 |
| Q3 2023 | $33.2 | $35.3 |
| 9 Months 2024 | $86.2 | $89.9 |
| 9 Months 2023 | $91.6 | $97.9 |
Research and Development Expenses
Research and development (R&D) expenses for Q3 2024 totaled $21.8 million, down from $27.6 million in Q3 2023. For the nine months ending September 30, 2024, R&D expenses were $68.0 million, compared to $73.4 million for the same period in 2023.
| Period | R&D Expenses (in millions) |
|---|---|
| Q3 2024 | $21.8 |
| Q3 2023 | $27.6 |
| 9 Months 2024 | $68.0 |
| 9 Months 2023 | $73.4 |
Cash Position and Financing Activities
As of September 30, 2024, VOR Biopharma had cash, cash equivalents, and marketable securities totaling $62.8 million. The company has funded its operations primarily through equity sales, with net proceeds from financing transactions amounting to approximately $464.4 million since inception.
| Cash Position (in millions) | As of September 30, 2024 |
|---|---|
| Cash and Cash Equivalents | $52.8 |
| Marketable Securities | $10.0 |
Stockholder Equity
VOR Biopharma's total stockholders' equity as of September 30, 2024, was $72.9 million, reflecting an accumulated deficit of $426.3 million at the same date.
| Total Stockholders' Equity (in millions) | As of September 30, 2024 |
|---|---|
| Total Equity | $72.9 |
| Accumulated Deficit | $426.3 |
Market Outlook
VOR Biopharma continues to pursue clinical trials for its product candidates, although it has not yet generated any revenue from sales. The company is actively seeking additional funding to support its research and development activities and is exploring potential collaborations to enhance its financial position.
A Who Owns Vor Biopharma Inc. (VOR)
Shareholder Structure
As of September 30, 2024, Vor Biopharma Inc. had approximately 68,663,065 shares outstanding. The company has primarily funded its operations through equity financing, accumulating net proceeds of approximately $464.4 million since its inception.
| Category | Number of Shares | Percentage of Ownership |
|---|---|---|
| Institutional Investors | ~35,000,000 | ~51% |
| Insiders | ~10,000,000 | ~15% |
| Public Float | ~23,663,065 | ~34% |
Major Shareholders
The following table lists the major shareholders of Vor Biopharma Inc. as of 2024:
| Shareholder | Shares Owned | Percentage of Total Shares |
|---|---|---|
| Viking Global Investors | ~7,500,000 | ~10.9% |
| BlackRock, Inc. | ~4,200,000 | ~6.1% |
| Fidelity Investments | ~3,800,000 | ~5.5% |
| Company Executives and Directors | ~10,000,000 | ~15% |
| Other Institutional Investors | ~10,500,000 | ~15.3% |
Recent Transactions and Developments
Vor Biopharma Inc. has been active in managing its capital structure. As of September 30, 2024, the company had cash, cash equivalents, and marketable securities amounting to $62.8 million. The company has also entered into an at-the-market sales agreement with Stifel, enabling it to raise additional capital by selling shares of common stock.
Stock Performance
The stock price of Vor Biopharma Inc. (VOR) has experienced volatility, with its average trading range reflecting broader market conditions and investor sentiment. The stock closed at approximately $1.60 per share as of September 30, 2024.
Future Outlook
Vor Biopharma Inc. plans to utilize its existing funds to support ongoing clinical trials and operational activities. The company expects to maintain sufficient liquidity to fund its operations through the second half of 2025. The potential for future financing will depend on market conditions and the company's development progress.
Vor Biopharma Inc. (VOR) Mission Statement
Company Overview
Vor Biopharma Inc. is a clinical-stage cell and genome engineering company focused on providing innovative therapies for patients suffering from hematological malignancies. The company utilizes a proprietary platform that leverages expertise in hematopoietic stem cell biology, genome engineering, and targeted therapy development.
Mission Statement
The mission of Vor Biopharma is to transform patient treatment by pioneering innovative therapies that harness the power of genetically engineered hematopoietic stem cells to target and eliminate cancer cells. The company's commitment is to deliver safer and more effective treatment options for patients with blood cancers.
Financial Performance
As of September 30, 2024, Vor Biopharma reported an accumulated deficit of $426.3 million. The company has not recognized any revenue since its inception and continues to incur significant operating losses.
| Financial Metrics | As of September 30, 2024 | As of December 31, 2023 |
|---|---|---|
| Cash and Cash Equivalents | $52.8 million | $31.4 million |
| Marketable Securities | $10.0 million | $105.8 million |
| Total Assets | $116.0 million | $198.1 million |
| Total Liabilities | $43.0 million | $47.4 million |
| Total Stockholders' Equity | $73.0 million | $150.7 million |
| Net Loss for Q3 2024 | $27.6 million | $33.2 million (Q3 2023) |
| Research and Development Expenses (Q3 2024) | $21.8 million | $27.6 million (Q3 2023) |
| General and Administrative Expenses (Q3 2024) | $6.7 million | $7.7 million (Q3 2023) |
Operational Focus
Vor Biopharma is committed to enhancing its research and development efforts to support its ongoing clinical trials, particularly the trem-cel and VCAR33ALLO programs. The company aims to advance its proprietary therapies through rigorous clinical evaluation to ensure safety and efficacy.
Funding and Liquidity
As of September 30, 2024, Vor Biopharma had raised approximately $464.4 million through financing transactions. The company has filed a universal shelf registration statement allowing for the offering of up to $350 million in securities, with $274.4 million remaining available under this statement.
| Liquidity Metrics | As of September 30, 2024 |
|---|---|
| Available under Shelf Registration | $274.4 million |
| Cash Requirements to Fund Operations | Expected to fund until H2 2025 |
Future Outlook
The future growth of Vor Biopharma hinges on its ability to successfully navigate the clinical development landscape and secure additional funding to support its ongoing initiatives. The management remains focused on advancing its product candidates through clinical trials to ultimately achieve regulatory approval and commercialization.
How Vor Biopharma Inc. (VOR) Works
Company Overview
Vor Biopharma Inc. is a clinical-stage cell and genome engineering company. It focuses on developing therapies for hematological malignancies by leveraging its proprietary platform, which combines hematopoietic stem cell (HSC) biology, genome engineering, and targeted therapies.
Financial Performance
As of September 30, 2024, Vor Biopharma reported significant financial metrics:
| Financial Metric | Value |
|---|---|
| Net Loss (Q3 2024) | $27.6 million |
| Net Loss (Nine Months Ended September 30, 2024) | $86.2 million |
| Accumulated Deficit | $426.3 million |
| Cash, Cash Equivalents, and Marketable Securities | $62.8 million |
| Weighted-Average Common Shares Outstanding | 68,663,065 |
Operating Expenses
Vor Biopharma's operating expenses for the three months ended September 30, 2024, reflected a decrease compared to the previous year:
| Expense Type | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Research and Development | $21.8 million | $27.6 million | ($5.8 million) |
| General and Administrative | $6.7 million | $7.7 million | ($1.0 million) |
| Total Operating Expenses | $28.5 million | $35.3 million | ($6.8 million) |
Research and Development Expenses
For the nine months ended September 30, 2024, Vor Biopharma's research and development expenses were broken down as follows:
| Expense Category | Amount (in thousands) |
|---|---|
| External Expenses | $24,449 |
| Internal Personnel Expenses | $29,202 |
| Manufacturing, Facilities, and Other Expenses | $14,311 |
| Total R&D Expenses | $67,962 |
Cash Flow Analysis
The cash flow analysis for the nine months ended September 30, 2024, is as follows:
| Cash Flow Activity | Amount (in thousands) |
|---|---|
| Net Cash Used in Operating Activities | ($75,597) |
| Net Cash Provided by Investing Activities | $96,929 |
| Net Cash Provided by Financing Activities | $106 |
| Net Increase in Cash, Cash Equivalents, and Restricted Cash | $21,438 |
Funding and Liquidity
As of September 30, 2024, Vor Biopharma has raised approximately $464.4 million through equity securities since inception. The company has filed a universal shelf registration statement allowing for aggregate offerings of up to $350 million, with approximately $274.4 million remaining available.
Stockholder Equity
As of September 30, 2024, the stockholders' equity of Vor Biopharma is summarized as follows:
| Equity Component | Value (in thousands) |
|---|---|
| Common Stock | $7 |
| Additional Paid-In Capital | $499,162 |
| Accumulated Other Comprehensive Income (Loss) | $68 |
| Accumulated Deficit | ($426,282) |
| Total Stockholders' Equity | $72,955 |
How Vor Biopharma Inc. (VOR) Makes Money
Revenue Generation Model
Vor Biopharma Inc. has not generated any revenue since its inception and does not expect to generate revenue from product sales in the near future. The company focuses on research and development of its product candidates, aiming to achieve marketing approval or enter into collaboration or license agreements with third parties to potentially generate revenue in the future.
Funding Sources
As of September 30, 2024, Vor Biopharma has received aggregate net proceeds from financing transactions of approximately $464.4 million. The company primarily funds its operations through the sale of equity securities.
On March 14, 2022, Vor Biopharma filed a universal shelf registration statement, allowing for offerings of up to $350 million of common stock, preferred stock, debt securities, warrants, or any combination thereof. As of September 30, 2024, $274.4 million remains available under this registration.
At-the-Market Sales Agreement
In December 2022, Vor Biopharma entered into a Sales Agreement with Stifel, Nicolaus & Company, allowing it to offer and sell shares of common stock with an aggregate value of up to $125 million. As of September 30, 2024, the company sold 249,096 shares under this facility at a weighted-average price of $1.64 per share, generating net proceeds of $0.4 million.
Operating Expenses
Vor Biopharma's primary expenses are categorized into research and development (R&D) and general and administrative (G&A) expenses. The following table outlines the operating expenses for the three and nine months ended September 30, 2024, compared to 2023:
| Expense Type | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Change | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 | Change |
|---|---|---|---|---|---|---|
| Research and Development | $21,817,000 | $27,606,000 | ($5,789,000) | $67,962,000 | $73,418,000 | ($5,456,000) |
| General and Administrative | $6,696,000 | $7,710,000 | ($1,014,000) | $21,912,000 | $24,494,000 | ($2,582,000) |
| Total Operating Expenses | $28,513,000 | $35,316,000 | ($6,803,000) | $89,874,000 | $97,912,000 | ($8,038,000) |
Net Loss and Accumulated Deficit
Vor Biopharma reported a net loss of $27.6 million for the three months ended September 30, 2024, and $86.2 million for the nine months ended September 30, 2024. The accumulated deficit as of September 30, 2024, was $426.3 million.
Cash Flow Overview
The following table summarizes the cash flows for Vor Biopharma for the nine months ended September 30, 2024, compared to 2023:
| Cash Flow Type | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Net cash used in operating activities | ($75,597) | ($76,266) |
| Net cash provided by investing activities | $96,929 | $60,673 |
| Net cash provided by financing activities | $106 | $2,913 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $21,438 | ($12,680) |
Research and Development Focus
Vor Biopharma is actively engaged in developing its proprietary platform for hematological malignancies. As of September 30, 2024, R&D expenses totaled $21.8 million for the three months ended September 30, 2024, a decrease from $27.6 million in the same period in 2023.
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Resources:
- Vor Biopharma Inc. (VOR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Vor Biopharma Inc. (VOR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Vor Biopharma Inc. (VOR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.