Stock DowngradeDespite having a healthy balance sheet, the uncertainties due to potential strategic alternatives have led to a downgrade of VOR stock to Neutral from Buy.
Strategic UncertaintyVor Biopharma, Inc. announced the initiation of a strategic review to explore options to maximize shareholder value, including a potential sale of assets or the company itself, due to challenging financing conditions and accumulated clinical data.
Workforce ReductionThe company is winding down all clinical and manufacturing operations, retaining only eight essential employees, leading to a workforce reduction of approximately 95%.