VOR: net income -$62.8M. Vor narrows operating loss 82.6%; runway extends to early 2029 on cash

Filed August 11, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 12, 2025 · ~1 min read

Key Changes

• high

  Operating loss narrowed 83% YoY to $47.9M in Q2 2026 (from $274.3M in Q2 2025), as prior-year quarter included $222.6M upfront telitacicept license expense and $18.4M restructuring charges. Current spend reflects ongoing telitacicept trials ($18.5M) and minimal legacy-program costs.

  MD&A: Operating Loss verify on EDGAR →
• high

  Cash runway extended from Q1 2027 to early 2029, supported by $466.1M in cash/marketable securities at June 30, 2026 (vs $200.6M prior year) and $48.9M raised via ATM subsequent to quarter-end. Extension reflects both higher balances and lower post-restructuring burn.

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

  Separate Phase 3 SjD trial initiated March 2026, targeting ~250 patients globally. Both trials expand addressable market beyond China approvals (gMG, SLE, RA, SjD, IgAN).

  MD&A: Clinical Milestones verify on EDGAR →