VOR Stock — Vor Biopharma Inc.: Cash, EV, Pipeline

Share price

$21.84

Market cap

$1,292.1M

Cash

$466.1M

Enterprise value

$826.0M

Balance sheet

Cash	$466.1M
Debt	$0.0M
Net cash	$466.1M
Enterprise value	$826.0M
Basic shares	54.5M shares
Fully diluted shares	109.5M shares
Fully diluted market cap	$2,391.3M
Cash per share	$8.55

Cash figures as of 2026-06-30. Database snapshot: 2026-09-22.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jun 12 - Jul 24	Telitacicept	Phase 3	Generalized Myasthenia Gravis	—
Jan 12 - Feb 23	Telitacicept	Phase 3	Primary Sjogren's Disease	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Telitacicept

Phase 3 · Active Modality: fusion protein

Target BAFF/APRIL (TACI fusion protein)

Partnerships Exclusive license from RemeGen Co., Ltd. (Jun 2025) to develop/commercialize ex-Greater China; RemeGen retains Greater China. $45M upfront + 16M-share warrant ($177.4M value); up to $330M regulatory and $3.775B sales milestones; high-single-digit to mid-teen tiered royalties.

Indications

Generalized myasthenia gravis (gMG) (Phase 3)
Sjögren's disease (SjD) (Phase 3)
Systemic lupus erythematosus (SLE) (Approved)
Rheumatoid arthritis (RA) (Approved)
IgA nephropathy (IgAN) (Approved)

Catalysts

— 1H 2027

Status note Lead product candidate. Approved in China for gMG, SLE, RA, Sjögren's disease and IgA nephropathy. Global Phase 3 in gMG ongoing (recruiting in North America, Europe, Latin America, Asia; topline anticipated 1H 2027). Global Phase 3 in Sjögren's disease initiated (first patient dosed Mar 2026; ~250 adults). Vor is substantially dependent on telitacicept's success.

trem-cel

Stage not disclosed · Active Modality: cell therapy

Target CD33

Indications

not disclosed (Stage not disclosed)

Status note Prior cell-therapy program tracked in R&D program expenses; current development status not described in the excerpts. Company pivoted in Jun 2025 to focus on autoimmune diseases via telitacicept.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Telitacicept
Lead indication	Generalized Myasthenia Gravis
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06456580	Phase 3	Recruiting	Sponsor	Vor Biopharma	—	Generalized Myasthenia Gravis	—
NCT07404865	Phase 3	Recruiting	Sponsor	Vor Biopharma	—	Primary Sjogren's Disease	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Vor Biopharma on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Frazier Life Sciences	2,543,939	no change	1.02%	2026-08-14
ADAR1 Capital Management	680,626	+680,626	0.59%	2026-08-14
Logos Global Management	650,000	-100,000	0.52%	2026-08-14
Braidwell LP	573,104	+106,330	0.39%	2026-08-14
Sphera Biotech	416,417	+94,500	1.10%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

VOR — Vor Biopharma Inc.