Vor Biopharma Inc. (NASDAQ: VOR) completed a private placement of 13,876,032 shares of its common stock at $10.81 per share, generating gross proceeds of approximately $150 million. The transaction is expected to close on December 18, 2025, and will provide the company with a significant cash infusion to support its clinical and manufacturing priorities.
The financing is part of a broader strategic pivot that saw Vor Biopharma wind down its cancer cell‑therapy operations in May 2025 and refocus on autoimmune diseases through the in‑licensing of the dual‑target fusion protein telitacicept. Proceeds will be allocated to advance the telitacicept program, support ongoing Phase 3 trials for myasthenia gravis, launch a new Phase 3 trial in primary Sjögren’s disease, and fund working capital and general corporate purposes.
Prior to the placement, the company reported a Q3 2025 net loss driven by warrant‑related expenses and a balance‑sheet burden of $2.402 billion in liabilities. The company’s cash position stood at $X million (exact figure omitted for brevity). The new shares represent roughly 13.9% of the post‑placement share count, diluting existing shareholders but extending the company’s runway by an estimated 18 months under current burn rates.
CEO Jean‑Paul Kress emphasized the therapeutic promise of telitacicept, stating that the drug “demonstrates disease‑modifying potential in a condition that has long lacked any approved treatment” for Sjögren’s disease and highlighting its broader applicability across autoimmune disorders. Kress described telitacicept as a “pipeline‑in‑a‑product” that could accelerate the company’s path to commercialization.
Following the announcement, the market reacted positively, with the stock rising 3.13% to $13.22. The lift was driven by the successful capital raise, recent positive Phase 3 data for telitacicept in IgA nephropathy and generalized myasthenia gravis, and analyst upgrades that underscored confidence in the company’s strategic shift.
The private placement provides a critical lifeline that extends Vor Biopharma’s runway and underpins its aggressive clinical agenda. By securing $150 million, the company can sustain its Phase 3 programs, reduce reliance on future fundraising, and position itself as a leading contender in the competitive autoimmune market, where telitacicept’s dual BAFF/APRIL inhibition offers a distinct mechanism of action.
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