Vor Biopharma Inc. (NASDAQ:VOR) on Tuesday priced an underwritten public offering of 10 million shares at $10.00 per share.
The gross proceeds from the offering are expected to be $100 million.
In addition, Vor Bio has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares.
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Trial Data
- On Saturday, Vor Bio said it achieved the primary endpoint in Stage A of a Phase 3 clinical study in China evaluating telitacicept in adults with IgA nephropathy (IgAN).
- The study enrolled 318 adult patients.
- In Stage A of the Phase 3 study, telitacicept achieved the primary endpoint of reducing proteinuria, demonstrating a significant reduction in 24-hour urine protein-to-creatinine ratio (24h-UPCRvs).
- Placebo at 39 weeks compared to placebo (-58.9% vs. -8.8%), 24h-UPCR is an objective and internally recognized regulatory marker for assessing disease activity in IgAN.
Vor Bio, and its collaborator RemeGen Co., Ltd, recorded statistically significant benefits across all secondary endpoints.
Treatment with telitacicept achieved statistically significant improvements across all key secondary endpoints at Week 39.
Compared with placebo, telitacicept stabilized kidney function (GMR of eGFR relative to baseline, showing stabilization in the telitacicept group (-0.10) in contrast to a decline in the placebo group (-0.77)) and reduced the risk of eGFR decline ≥ 30% (6.3% in the telitacicept group vs. 27.0% in the placebo group).
61% of patients on telitacicept vs.19.5% of patients on placebo achieved 24h-UPCR <0.8 g/g, 42.1% of patients on telitacicept vs. 7.5% of patients on placebo achieved <0.5 g/g, and 24.5% of patients on telitacicept vs. 0.6% of patients on placebo achieved <0.3 g/g, thresholds linked to low risk of disease progression.
Telitacicept demonstrated a favorable and well-tolerated safety profile. While overall treatment-emergent adverse events were more frequent with telitacicept (89.3% vs. 78.6%), most were mild or moderate, and serious adverse events occurred less often with telitacicept than with placebo (2.5% vs. 8.2%). No apparent unexpected safety findings were noted.
RemeGen submitted a Biologics License Application to the Center for Drug Evaluation of the National Medical Products Administration in China for IgAN, which, if approved, would make telitacicept the fifth indication approved in China.
Price Action: VOR stock is down 44.31% at $10.47 during the premarket session at the last check on Tuesday.
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