Vor Biopharma launches up to $150 million at-the-market stock offering
Vor filed a prospectus supplement on October 30, 2026 to sell shares through William Blair and RBC Capital Markets after its prior $125 million Stifel agreement expired.
Vor Biopharma Inc. filed a prospectus supplement dated October 30, 2026 for an at-the-market offering of up to $150,000,000 in common stock. The company entered into a sales agreement with William Blair & Company, L.L.C. and RBC Capital Markets, LLC dated October 30, 20261 covering the sale of shares. This replaces an earlier arrangement: a prior sales agreement dated December 23, 2022 with Stifel, Nicolaus & Company, Incorporated expired in accordance with its terms, as Vor had sold an aggregate of $125 million of shares under that agreement1.
As of October 29, 2026, the last reported sale price of Vor's common stock was $20.91 per share1. The Sales Agents will be entitled to compensation at a fixed commission rate of up to 3.0% of the gross sales price per share sold under the Sales Agreement1. Vor also agreed to reimburse the Sales Agents up to $75,000 of their actual outside legal expenses incurred in connection with the execution of the Sales Agreement1, and estimated total expenses of the offering payable by the company, excluding commissions, at approximately $225,0001.
The company said it currently intends to use net proceeds for working capital, capital expenditures and other general corporate purposes, and may also use a portion to invest in or acquire complementary businesses or technologies, though it has no current plans, commitments or agreements for any acquisitions1.
On dilution, Vor disclosed that its net tangible book value deficit as of September 30, 2026 was $(137.2) million, or $(2.23) per share1, and that an assumed sale of 7,173,601 shares at $20.91 would produce an immediate increase in net tangible book value of $2.35 per share to existing stockholders and immediate dilution of $20.79 per share to new investors1.
Separately, the filing notes Vor's lead program: in June 2025 the company in-licensed telitacicept from RemeGen Co., Ltd., gaining exclusive rights to develop and commercialize it outside Greater China1. In September 2026, Vor announced completion of enrollment in its Phase 3 UPSTREAM MG trial, with topline data anticipated in the first half of 20271.
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