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 UncertaintyThe decision to downgrade VOR is due to uncertainties regarding the company's pipeline development and business strategies going forward.
Workforce ReductionThe company is winding down all clinical and manufacturing operations, retaining only eight essential employees, leading to a workforce reduction of approximately 95%.