Vor Biopharma Reports $32.5 Million Net Loss in Q1 2025, Announces Strategic Shift

Vor Biopharma Inc. reported a net loss of $32.5 million for the first quarter of 2025, compared to a net loss of $30.8 million for the same period in 2024. The company's total operating expenses increased slightly to $33.3 million from $32.3 million year-over-year. Research and development expenses rose to $26.7 million, up from $24.3 million, primarily due to increased clinical trial costs associated with its trem-cel and VCAR33 programs. General and administrative expenses decreased to $6.6 million from $8.0 million, attributed to lower stock-based compensation and personnel costs.

As of March 31, 2025, Vor Biopharma's cash, cash equivalents, and marketable securities totaled $60.0 million, a decrease from $96.5 million at the end of 2024. The company’s accumulated deficit reached $489.5 million, reflecting ongoing financial challenges. The decline in cash reserves was influenced by significant operating losses and a reduction in interest income, which fell to $805,000 from $1.5 million in the prior year, as the company held lower balances of cash and marketable securities.

In a significant strategic shift, Vor Biopharma announced on May 8, 2025, its decision to wind down clinical and manufacturing operations and explore strategic alternatives to maximize shareholder value. This includes a workforce reduction of approximately 95%, affecting 147 employees, which is expected to incur severance costs of about $10.9 million. The company anticipates additional costs related to asset disposals and contract terminations, although the exact amounts remain uncertain.

The company has not generated any revenue since its inception and does not expect to do so in the near future. Vor Biopharma's future operations depend heavily on its ability to secure additional funding or complete a strategic transaction. The company has filed a universal shelf registration statement to facilitate future capital raises, but management has expressed substantial doubt regarding its ability to continue as a going concern within the next year. The ongoing strategic review process may lead to further changes in operations and financial strategy as the company seeks to navigate its current challenges.