2023-03-24 14:10:31 ET
- Cell therapy developer Vor Biopharma ( NASDAQ: VOR ) added ~15% marking the highest intraday rise in more than three months, after announcing Q4 2022 results on Friday with an update on its liquidity position.
- The Cambridge, Massachusetts-based biotech noted that its cash runway extends to Q1 2025 after generating ~$116M in gross proceeds following an underwritten offering and a private placement in December.
- The announcement comes amid concerns in the space over financing in the wake of the failure of Silicon Valley Bank, which prompted many development-stage companies to reassure investors over their liquidity position.
- As for the pipeline, Vor ( VOR ) expects additional data for its investigational leukemia therapy trem-cel (formerly VOR33) by the year-end. The genome-edited allogeneic hematopoietic stem cell transplant is targeted at patients with acute myeloid leukemia.
- Additionally, Vor ( VOR ) reaffirmed plans to submit an investigational new drug (IND) application for its experimental T cell therapy VCAR33 in H1 2023.
- With its Q3 2022 financials in November, the company reported $136.1M in cash and equivalents, which it said would fund operations into Q1 2024.
For further details see:
Vor Biopharma jumps 15% after Q4 update