By Dean Seal
The board of Vor Bio is exploring a potential sale, winding down operations and cutting the vast majority of its workforce.
The clinical-stage cell-and-genome engineering company said Thursday that the board will also consider licensing or selling company assets, pursuing a merger, and any other strategic action that could enhance shareholder value.
Vor is immediately winding down its clinical and manufacturing operations, including its ongoing clinical trials, the Cambridge, Mass., company said. The discontinuation isn't related to any safety concerns with Vor's drug candidates, it said.
The company has also decided to cut 95% of its workforce and plans to retain just eight employees to help with the exploration of strategic alternatives and the wind-down of operations.
The shakeup reflects the currently available data from Vor's key clinical programs as well as a challenging fundraising environment, the company said.
Shares of Vor were down 46% to 29 cents in premarket trading after being halted ahead of the news. They had fallen 52% year to date when the market closed Wednesday.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 08, 2025 09:08 ET (13:08 GMT)
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