Vor pivots from AML wind-down to autoimmune disease, raises $75M, extends runway to 2029

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

• high

  VOR completed strategic pivot from AML cell therapy to autoimmune disease via June 2025 in-license of telitacicept from RemeGen; now running two global Phase 3 trials (gMG topline H1 2027, SjD initiated March 2026).

  MD&A: Business Model Pivot verify on EDGAR →
• high

  Cash position improved from $60M (sub-12-month runway) to $491.5M with runway into early 2029; going-concern doubt removed after March 2026 private placement raised $75M at $14.05/share.

  MD&A: Cash Runway and Liquidity verify on EDGAR →
• high

  Telitacicept already approved in China for three autoimmune indications (gMG, SLE, RA) with two additional BLAs pending (SjD, IgAN), de-risking regulatory pathway though VOR's license covers ex-Greater China only.

  MD&A: China Approvals verify on EDGAR →