Vor BioPharma stocks surge 33% after private placement

Investing.com -- Vor BioPharma's shares experienced a significant surge, rising as much as 33% on Friday, after the company announced a private placement of $55.6 million in shares.

Under the agreement terms, Vor Bio will issue around 55.9 million shares of common stock along with warrants to purchase approximately 69.8 million shares.

Additionally, Vor disclosed plans to release updated clinical data from its VBP301 and VBP101 trials next year.

The funds raised from the private placement are expected to extend Vor's cash runway through the release of the updated data from the VBP301 and VBP101 trials in 2025.

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Source: Investing.com