One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Vor Biopharma Inc.
VOR · NMS · Healthcare · Biotechnology
Current price
$19.98
52-week range
$6.50 - $26.00
Market cap
$1.23B
Balance sheet
Healthy
-63.33x Concerning
Net cash $478.74M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
0 Risks
1 rewards · 0 risks
View details ↓What this company does
Vor Biopharma Inc.
Vor Biopharma is developing a new medicine for autoimmune diseases like myasthenia gravis and lupus. They make money primarily through licensing agreements for their drug candidate, which means another company pays them to develop and sell it. This approach is important because it allows Vor Biopharma to advance their treatments without having to handle all the manufacturing and sales themselves.
How the company got here
Vor Biopharma Inc. was founded in 2015 and initially focused on cell and gene therapies for blood cancers. However, after facing challenges with its previous product candidates and the fundraising environment, the company underwent a significant strategic shift in 2025. It decided to wind down its cell therapy operations and pivot to become a biopharmaceutical company focused on developing treatments for autoimmune diseases. This pivot involved licensing the rights to a drug called telitacicept from a Chinese company, RemeGen, and appointing a new CEO with experience in the biopharmaceutical industry. This strategic redirection aimed to leverage existing clinical data and focus on a more promising area of medicine.
What it actually does
Vor Biopharma is a clinical-stage biopharmaceutical company. This means it is in the process of developing new medicines, but these medicines have not yet been approved by regulatory bodies like the FDA for widespread use. The company's main focus is on creating therapies that aim to correct the underlying issues in autoimmune diseases, rather than just managing symptoms. Autoimmune diseases occur when the body's immune system mistakenly attacks its own healthy tissues. Vor's approach is to develop treatments that can rebalance the immune system to stop these attacks.
Telitacicept
Vor Biopharma's primary focus is on a drug called telitacicept. This drug is a novel fusion protein designed to treat various autoimmune diseases. It works by targeting specific signaling molecules, BAFF and APRIL, which are involved in the survival and maturation of B cells. B cells are a type of white blood cell that produces antibodies; in autoimmune diseases, these B cells can produce harmful antibodies that attack the body's own tissues. By inhibiting BAFF and APRIL, telitacicept aims to reduce the production of these harmful autoantibodies and thereby control the autoimmune disease. Telitacicept is currently in Phase 3 clinical trials for conditions like generalized myasthenia gravis and Sjögren's disease. The company has licensed the rights to develop and commercialize telitacicept outside of China. While telitacicept has received approvals in China for other indications, Vor is conducting global trials to seek approval in other major markets like the U.S. and Europe.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-24.14M
FY2025 Q1
$-31.30M
FY2025 Q2
$-35.34M
FY2025 Q3
$-53.91M
FY2025 Q4
$-23.11M
FY2026 Q1
$-38.29M
FY2026 Q2
$-25.50M
FY2026 Q3
$-32.77M
Revenue
—
Net income
$-86.73M
Diluted EPS
-1.45
Operating cash flow
$-32.75M
Free cash flow
$-32.77M
Fetching…
Sources
Revenue
—
Net income
$-62.81M
Diluted EPS
-1.16
Operating cash flow
$-25.38M
Free cash flow
$-25.50M
Fetching…
Sources
Revenue
—
Net income
$-219.59M
Diluted EPS
-5.11
Operating cash flow
$-38.25M
Free cash flow
$-38.29M
Fetching…
Sources
Revenue
—
Net income
$1.72B
Diluted EPS
63.95
Operating cash flow
$-22.80M
Free cash flow
$-23.11M
Fetching…
Sources
Revenue
—
Net income
$-812.68M
Diluted EPS
-121.63
Operating cash flow
$-53.66M
Free cash flow
$-53.91M
Fetching…
Sources
Revenue
—
Net income
$-1.57B
Diluted EPS
-12.56
Operating cash flow
$-35.18M
Free cash flow
$-35.34M
Fetching…
Sources
Revenue
—
Net income
$-32.49M
Diluted EPS
-0.26
Operating cash flow
$-31.07M
Free cash flow
$-31.30M
Fetching…
Sources
Revenue
—
Net income
$-30.71M
Diluted EPS
-0.44
Operating cash flow
$-24.06M
Free cash flow
$-24.14M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $19.98
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $478.7M - more cash than debt. Interest coverage -63.3x.
Net debt
$-478.74M
Interest coverage
-63.33x
Vor Biopharma Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
VOR
BASELINE
Vor Biopharma Inc.
Total debt $2.81M Interest coverage -63.33x This is the baseline the peer rows are being compared against.
Total debt $76.79M Interest coverage -41.89x Neither company has much profit cushion over interest right now.
Total debt $58.66M Interest coverage 24.61x This peer still has a real interest-payment cushion, while VOR does not.
Total debt $269.59M Interest coverage 2.84x This peer still has a real interest-payment cushion, while VOR does not.
Total debt $23.17M Interest coverage -85.95x Neither company has much profit cushion over interest right now.
What you should know
The case for and against VOR
1 Reward
0 Risks
Rewards
-
Trades at 0.1x P/E vs peer median 7.3x (99.1% cheaper).
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
0.07x
Forward P/E
-5.97x
P/B
-8.95x
P/S
—
EV/EBITDA
-5.07x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
0.0%
Net margin
0.0%
ROE
—
ROA
-27.5%
Health
Liquidity and balance-sheet strength
Debt / equity
—
Current ratio
13.50x
Quick ratio
13.25x
Total debt
$2.81M
Total cash
$481.55M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
—
EPS TTM
300.56
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-119.17M
Free CF TTM
$-143.65M
FCF margin
—
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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