Vor Biopharma Inc (NASDAQ: VOR) is a clinical-stage biotechnology company developing engineered cell therapies and targeted medicines for blood cancers and other serious diseases. The company generates no product revenue, funding operations entirely through equity and debt financing, including a $50.0 million warrant sale to institutional investors in June 2025 and a $75.0 million private placement of common stock at $14.05 per share agreed on March 26, 2026. Research and development expenses were $321.5 million for the year ended December 31, 2025, compared to $93.3 million for the year ended December 31, 2024, with the $228.2 million increase driven primarily by in-licensed or acquired program costs. Key programs include telitacicept for generalized myasthenia gravis (gMG) and Sjogren's disease (SjD). Jean-Paul Kress serves as Chief Executive Officer. Vor Biopharma is headquartered in the United States and operates as a non-revenue-generating, pre-commercialization biotechnology company reliant on capital markets to fund its pipeline.

Revenue model

No product revenue as of the 10-K filed 2026-03-30. Operations are funded through equity issuances, including ATM facility sales via Stifel and private placements to institutional investors, and interest income on cash holdings.

Products and services

Telitacicept for generalized myasthenia gravis (gMG) and Sjogren's disease (SjD), both in clinical development as of FY2025. Additional product candidates across multiple therapeutic areas are in research and development.

Customers and end markets

No commercial customers as of the 10-K filed 2026-03-30. Target end markets are patients with blood cancers and autoimmune diseases, including gMG and SjD.

Value-chain role

Clinical-stage drug developer. Conducts internal and externally contracted research and development. Relies on third-party contract manufacturers and clinical research organizations. Has not yet reached commercialization.

Geographic exposure

Headquartered in the United States. Subject to EU GDPR, UK GDPR, and China PIPL data privacy obligations, indicating some international research or data operations, but primary operations are U.S.-based as of the 10-K filed 2026-03-30.

Source: SEC 10-K, filed 2026-03-30

Industry: Biological Products, (No Diagnostic Substances) Peers: Savara Inc Armata Pharmaceuticals Inc Anixa Biosciences Inc Brainstorm Cell Therapeutics Inc CEL-SCI Corp CHIMERIX INC Clovis Oncology, Inc. Viracta Therapeutics, Inc.