Vor Biopharma Inc. reported a net loss of $812.7 million for the third quarter of 2025, compared to a net loss of $27.6 million for the same period in 2024. Total operating expenses were $28.1 million, slightly down from $28.5 million in the third quarter of 2024. Research and development expenses decreased to $14.1 million from $21.8 million, mainly due to lower stock-based compensation and headcount, offset by increased spending on telitacicept for generalized myasthenia gravis. Cash, cash equivalents, and marketable securities were $170.5 million as of September 30, 2025, with projected funding into the second quarter of 2027 after additional financing activities. The company highlighted late-stage data readouts for telitacicept and expanded its executive leadership and board during the quarter.