Vor Bio announces exploration of strategic alternatives, 95% workforce reduction

Vor Bio (VOR) announced that, based on currently available clinical data from its key clinical programs and a challenging fundraising environment, the Board of Directors has approved the initiation of a process to explore a range of strategic alternatives aimed at maximizing both near- and long-term shareholder value. These strategic alternatives could include, among other alternatives, a potential sale of assets of the Company, a potential licensing of assets of the Company, a sale of the Company, a business combination, a merger or other strategic action. The Company is also winding down its clinical and manufacturing operations, beginning immediately, including its ongoing clinical trials. The decision to discontinue clinical operations is not due to any safety concerns with Vor Bio’s product candidates. In conjunction with the strategic process, Vor Bio implemented a workforce reduction of approximately 95% with a cost of approximately $10.9 million. Vor Bio plans to retain approximately 8 employees to assist in exploring its strategic alternatives, maintaining compliance with regulatory and financial reporting requirements, and winding-down the clinical and manufacturing operations. Vor Bio does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the process will result in any strategic alternative being announced or consummated. Vor Bio does not intend to discuss or disclose further developments during this process unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate or required by law.The Company has retained Cooley LLP as its legal advisor. As of December 31, 2024, the Company had cash, cash equivalents and marketable securities were $91.9 million. The Company plans to report first quarter 2025 financial results as planned on May 14, 2025.