VOR Vor Biopharma Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 11, 2026
$18.69
· of 52w range
· above low
· to high
$6.5052w low
$38.3152w high
Market Cap (MRQ)
$1.02B
P/E
-0.4
EPS
$-70.50
your badges
52W Range
$6–$38
Analyst Rating
BUY
Price Target
$39
P/E
-0.4
ROE
83.4%
Net Profit Margin
·
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VOR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$18.69
Market Cap (MRQ)
$1.02B
P/E
-0.4
EPS
$-70.50
Div Yield
0.00%
ROE
83.4%
52W Range
$7–$38
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Sept. 19, 2025 | 1-for-20 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
EPS$-70.502021-12-31 → 2025-12-31
Free Cash Flow$-144M2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | VOR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -0.45Y avg ≈-38.9 | ≈-38.9 | · | · | |
| P/B (MRQ) | -5.15Y avg ≈24.2 | ≈24.2 | · | · | |
| Price / FCF (TTM) | -7.25Y avg ≈-54.7 | ≈-54.7 | · | · | |
| Price / Cash Flow (TTM) | -7.35Y avg ≈-58.0 | ≈-58.0 | · | · | |
| Price / Tangible Book | 57.35Y avg ≈31.0 | ≈31.0 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VOR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -229.3%5Y avg ≈-84.5% | ≈-84.5% | -51.0% | Weak | |
| ROE | 83.4%5Y avg ≈-40.5% | ≈-40.5% | -33.0% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VOR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 19.15Y avg ≈14.3 | ≈14.3 | 11.6 | Strong liquidity | |
| Quick Ratio | 18.15Y avg ≈14.0 | ≈14.0 | 9.8 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield0.00%
Payout Ratio0.00%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
79.0%
Next Report
Nov 11, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-1.16 | $-0.71 | -63.1% |
| March 31, 2026 | May 13, 2026 | $-5.11 | $-0.79 | -548.3% |
| Dec. 31, 2025 | $25.84 | $-1.69 | 1625.3% | |
| Sept. 30, 2025 | $-3.33 | $-3.28 | -1.4% | |
| June 30, 2025 | $-43.80 | $-8.86 | -394.6% | |
| March 31, 2025 | $-5.20 | $-4.62 | -12.6% | |
| Dec. 31, 2024 | $-8.80 | $-5.77 | -52.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| R&D Expense | $322M | $93M | $94M | $65M | $48M | $32M | |
| SG&A Expense | $50M | $28M | $32M | $29M | $21M | $12M | |
| Operating Expenses | $372M | $121M | $126M | $93M | $69M | $43M | |
| Operating Income | $-372M | $-121M | $-126M | $-93M | $-69M | $-43M | |
| Interest Income | $6M | $4M | $8M | $1M | $119.0K | $29.0K | |
| Other Non-op | $-324M | $4M | $8M | $1M | $119.0K | $29.0K | |
| Net Income | $-696M | $-117M | $-118M | $-92M | $-69M | $-43M | |
| EPS (Basic) | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 | · | |
| EPS (Diluted) | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 | · | |
| Shares (Basic) | 9,871,866 | 3,435,533 | 67,191,973 | 39,551,420 | 33,433,214 | · | |
| Shares (Diluted) | 9,871,866 | 3,435,533 | 67,191,973 | 39,551,420 | 33,433,214 | · | |
| EBITDA | $-372M | $-121M | $-126M | $-93M | $-69M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $396M | $82M | $31M | $58M | $120M | $49M | |
| Short-term Investments | $59M | $10M | $106M | $173M | $88M | $0 | |
| Prepaid Expense | $1M | $4M | $3M | $4M | $5M | $467.0K | |
| Other Current Assets | $2M | $380.0K | $475.0K | $2M | $2M | $100.0K | |
| Current Assets | $458M | $97M | $141M | $237M | $214M | $49M | |
| PP&E (Net) | $533.0K | $7M | $10M | $13M | $7M | $5M | |
| PP&E (Gross) | $558.0K | $18M | $18M | $17M | $9M | $5M | |
| Accum. Depreciation | $25.0K | $11M | $8M | $5M | $2M | $726.0K | |
| Other Non-current Assets | $2M | $2M | $5M | $3M | $3M | $3M | |
| Total Assets | $464M | $143M | $198M | $299M | $243M | $76M | |
| Accounts Payable | $5M | $2M | $815.0K | $2M | $2M | $2M | |
| Accrued Liabilities | $20M | $13M | $11M | $8M | $6M | $6M | |
| Current Liabilities | $25M | $19M | $16M | $13M | $10M | $10M | |
| Capital Leases | $3M | $28M | $32M | $36M | $16M | $17M | |
| Total Liabilities | $628M | $46M | $47M | $49M | $26M | $28M | |
| Common Stock | $18.0K | $13.0K | $7.0K | $7.0K | $4.0K | $1.0K | |
| Retained Earnings | $-1.15B | $-457M | $-340M | $-222M | $-130M | $-61M | |
| AOCI | $41.0K | $22.0K | $-77.0K | $-770.0K | · | · | |
| Stockholders' Equity | $-164M | $97M | $151M | $251M | $216M | $-59M | |
| Liabilities + Equity | $464M | $143M | $198M | $299M | $243M | $76M | |
| Shares Outstanding | 38,720,196 | 6,238,799 | 3,395,072 | 65,996,138 | 37,174,741 | 505,074 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $19M | $10M | $13M | $11M | $4M | $1M | |
| Restructuring | $30M | · | · | · | · | · | |
| Operating Cash Flow | $-143M | $-100M | $-100M | $-85M | $-69M | $-36M | |
| CapEx | $941.0K | $229.0K | $1M | $8M | $4M | $4M | |
| Investing Cash Flow | $-49M | $97M | $71M | $-94M | $-92M | $-4M | |
| Stock Issued | $70M | $275.0K | $5M | $4M | · | · | |
| Net Stock Activity | $70M | $275.0K | $5M | $4M | · | · | |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | |
| Financing Cash Flow | $504M | $53M | $3M | $117M | $233M | $83M | |
| Net Change in Cash | $312M | $51M | $-26M | $-62M | $72M | $42M | |
| Free Cash Flow | $-144M | $-100M | $-101M | $-94M | $-73M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| ROA | -229.3% | -68.6% | -47.4% | -34.0% | -43.3% | · | |
| ROE | 83.4% | -137.8% | -72.4% | -45.0% | -30.7% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 18.2 | 5.2 | 9.0 | 18.1 | 21.1 | · | |
| Quick Ratio | 18.1 | 4.9 | 8.8 | 17.6 | 20.4 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $-4.24 | $0.77 | $2.22 | $3.80 | $5.82 | · | |
| Cash Flow / Share | $-14.46 | $-1.45 | $-1.49 | $-2.15 | · | · | |
| Cash / Share | $10.24 | $0.66 | $0.46 | $0.87 | $3.22 | · | |
| EPS (TTM) | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Net Income TTM | $-696M | $-117M | $-118M | $-92M | $-69M | $-43M | |
| Market Cap | $506M | $2.77B | $3.06B | $8.78B | $8.64B | · | |
| P/E | -0.2 | -0.7 | -25.7 | -57.1 | -110.7 | · | |
| P/B | -3.1 | 28.7 | 20.3 | 35.0 | 39.9 | · | |
| P / Tangible Book | · | 28.7 | 20.3 | 35.0 | 39.9 | · | |
| P / Cash Flow | -3.5 | -27.8 | -30.5 | -103.1 | -124.9 | · | |
| P / FCF | -3.5 | -27.7 | -30.1 | -93.8 | -118.3 | · | |
| Dividend Yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | |
| Earnings Yield | -539.0% | -153.3% | -3.9% | -1.8% | -0.90% | · | |
| Payout Ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | |
| Annual Payout | $0 | $0 | $0 | $0 | $0 | $0 |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $26M | $18M | $19M | $14M | $261M | $27M | $25M | $22M | $22M | $24M | $21M | $28M | $24M | $22M | $17M | $17M | |
| SG&A Expense | $22M | $18M | $17M | $14M | $13M | $7M | $6M | $7M | $7M | $8M | $7M | $8M | $8M | $9M | $8M | $7M | |
| Operating Expenses | $48M | $35M | $36M | $28M | $274M | $33M | $31M | $29M | $29M | $32M | $28M | $35M | $32M | $30M | $25M | $24M | |
| Operating Income | $-48M | $-35M | $-36M | $-28M | $-274M | $-33M | $-31M | $-29M | $-29M | $-32M | $-28M | $-35M | $-32M | $-30M | $-25M | $-24M | |
| Interest Income | $4M | $4M | $3M | $2M | $537.0K | $805.0K | $599.0K | $954.0K | $1M | $2M | $2M | $2M | $2M | $2M | $815.0K | $313.0K | |
| Other Non-op | $-15M | $-184M | $1.76B | $-785M | $-1.30B | $805.0K | $599.0K | $954.0K | $1M | $2M | $2M | $2M | $2M | $2M | $815.0K | $313.0K | |
| Net Income | $-63M | $-220M | $1.72B | $-813M | $-1.57B | $-32M | $-31M | $-28M | $-28M | $-31M | $-26M | $-33M | $-30M | $-28M | $-24M | $-24M | |
| EPS (Basic) | $-1.16 | $-5.11 | $63.95 | $-121.63 | $-251.24 | $-5.21 | $-25.12 | $-8.05 | $-0.41 | $-0.45 | $-0.38 | $-0.49 | $-0.45 | $-0.43 | $-0.51 | $-0.63 | |
| EPS (Diluted) | $-1.16 | $-5.11 | $63.95 | $-121.63 | $-251.24 | $-5.21 | $-25.12 | $-8.05 | $-0.41 | $-0.45 | $-0.38 | $-0.49 | $-0.45 | $-0.43 | $-0.51 | $-0.63 | |
| Shares (Basic) | 54,304,456 | 43,011,544 | · | 6,681,794 | 6,263,572 | 6,241,207 | · | 3,423,499 | 68,299,170 | 68,030,966 | · | 67,607,713 | 67,033,150 | 66,265,703 | · | 38,009,022 | |
| Shares (Diluted) | 54,304,456 | 43,011,544 | · | 6,681,794 | 6,263,572 | 6,241,207 | · | 3,423,499 | 68,299,170 | 68,030,966 | · | 67,607,713 | 67,033,150 | 66,265,703 | · | 38,009,022 | |
| EBITDA | $-48M | $-35M | · | $-28M | $-274M | $-33M | · | $-29M | $-29M | · | · | $-35M | $-32M | $-30M | · | $-24M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $108M | $170M | $396M | $160M | $191M | $50M | $82M | $53M | $76M | $45M | $31M | $45M | $32M | $42M | $58M | $61M | |
| Short-term Investments | $358M | $322M | $59M | $10M | $10M | $10M | $10M | $10M | $10M | $63M | $106M | $115M | $155M | $168M | $173M | $75M | |
| Prepaid Expense | $6M | $6M | $1M | $747.0K | $2M | $5M | $4M | $4M | $4M | $4M | $3M | $4M | $4M | $6M | $4M | $5M | |
| Other Current Assets | $3M | $3M | $2M | $1M | $449.0K | $297.0K | $380.0K | $285.0K | $272.0K | $507.0K | $475.0K | $667.0K | $539.0K | $459.0K | $2M | $2M | |
| Current Assets | $475M | $501M | $458M | $172M | $205M | $65M | $97M | $67M | $90M | $112M | $141M | $164M | $191M | $217M | $237M | $143M | |
| PP&E (Net) | $648.0K | $565.0K | $533.0K | $271.0K | $0 | $6M | $7M | $7M | $8M | $9M | $10M | $11M | $11M | $12M | $13M | $13M | |
| PP&E (Gross) | $738.0K | $618.0K | $558.0K | $272.0K | $0 | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $17M | $17M | $17M | |
| Accum. Depreciation | $90.0K | $53.0K | $25.0K | $1.0K | $0 | $12M | $11M | $11M | $10M | $9M | $8M | $7M | $6M | $5M | $5M | $4M | |
| Other Non-current Assets | $2M | $2M | $2M | $269.0K | $420.0K | $2M | $2M | $3M | $3M | $5M | $5M | $4M | $3M | $3M | $3M | $3M | |
| Total Assets | $481M | $507M | $464M | $176M | $205M | $109M | $143M | $116M | $142M | $167M | $198M | $223M | $251M | $278M | $299M | $206M | |
| Accounts Payable | $4M | $1M | $5M | $885.0K | $669.0K | $4M | $2M | $1M | $2M | $2M | $815.0K | $1M | $2M | $3M | $2M | $824.0K | |
| Accrued Liabilities | $20M | $15M | $20M | $18M | $58M | $9M | $13M | $9M | $8M | $7M | $11M | $10M | $7M | $5M | $8M | $6M | |
| Current Liabilities | $25M | $16M | $25M | $19M | $59M | $17M | $19M | $14M | $14M | $13M | $16M | $15M | $13M | $13M | $13M | $11M | |
| Capital Leases | $3M | $3M | $3M | $3M | $0 | $27M | $28M | $29M | $30M | $31M | $32M | $33M | $34M | $35M | $36M | $37M | |
| Total Liabilities | $681M | $657M | $628M | $2.40B | $1.71B | $43M | $46M | $43M | $44M | $44M | $47M | $48M | $47M | $47M | $49M | $48M | |
| Common Stock | $19.0K | $19.0K | $18.0K | $15.0K | $13.0K | $13.0K | $13.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $4.0K | |
| Retained Earnings | $-1.44B | $-1.37B | $-1.15B | $-2.88B | $-2.06B | $-489M | $-457M | $-426M | $-399M | $-371M | $-340M | $-314M | $-281M | $-251M | $-222M | $-198M | |
| AOCI | $-922.0K | $-706.0K | $41.0K | $12.0K | $14.0K | $23.0K | $22.0K | $68.0K | $-70.0K | $-87.0K | $-77.0K | $-280.0K | $-436.0K | $-174.0K | $-770.0K | $-1M | |
| Stockholders' Equity | $-200M | $-150M | $-164M | $-2.23B | $-1.51B | $66M | $97M | $73M | $98M | $123M | $151M | $175M | $204M | $230M | $251M | $159M | |
| Liabilities + Equity | $481M | $507M | $464M | $176M | $205M | $109M | $143M | $116M | $142M | $167M | $198M | $223M | $251M | $278M | $299M | $206M | |
| Shares Outstanding | 54,455,751 | 54,185,582 | 38,720,196 | 9,026,922 | 125,645,952 | 124,851,547 | 6,238,799 | 68,663,065 | 68,357,884 | 68,215,771 | 67,891,311 | 67,785,469 | 67,433,560 | 66,934,897 | 65,996,138 | 38,393,211 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $9M | $9M | $7M | $8M | $2M | $2M | $2M | $2M | $3M | $3M | $2M | $3M | $4M | $4M | $4M | $3M | |
| Restructuring | · | · | $0 | $-1M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-25M | $-38M | $-23M | $-54M | $-35M | $-31M | $-24M | $-23M | $-22M | $-30M | $-24M | $-28M | $-24M | $-24M | $-18M | $-19M | |
| CapEx | $120.0K | $48.0K | $314.0K | $244.0K | $152.0K | $231.0K | $72.0K | $34.0K | $9.0K | $114.0K | $111.0K | $465.0K | $399.0K | $94.0K | $321.0K | $298.0K | |
| Investing Cash Flow | $-37M | $-263M | $-49M | $-244.0K | $646.0K | $-230.0K | $-72.0K | $-34.0K | $53M | $44M | $10M | $41M | $14M | $6M | $-97M | $13M | |
| Stock Issued | · | · | $50M | $20M | $0 | $0 | $-22.0K | $111.0K | $-92.0K | $278.0K | $-15.0K | $392.0K | $579.0K | $4M | $106.0K | $4M | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | · | · | · | · | $4M | · | · | |
| Financing Cash Flow | $-106.0K | $75M | $308M | $22M | $175M | $-606.0K | $53M | $41.0K | $-31.0K | $96.0K | $25.0K | $176.0K | $218.0K | $3M | $112M | $4M | |
| Net Change in Cash | $-62M | $-227M | $236M | $-32M | $141M | $-32M | $29M | $-23M | $31M | $14M | $-14M | $13M | $-10M | $-15M | $-3M | $-2M | |
| Free Cash Flow | · | $-38M | · | · | · | $-31M | · | · | · | · | · | · | · | $-24M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -18.3% | -71.3% | · | -556.2% | -907.1% | -23.5% | · | -16.3% | -14.2% | · | · | -15.5% | -12.6% | -11.1% | · | -10.2% | |
| ROE | 7.4% | 520.6% | · | 75.5% | 223.6% | -34.4% | · | -22.2% | -18.4% | · | · | -19.9% | -15.8% | -13.4% | · | -12.2% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 19.1 | 31.1 | · | 9.2 | 3.5 | 3.9 | · | 4.7 | 6.5 | · | · | 10.7 | 15.1 | 17.2 | · | 12.9 | |
| Quick Ratio | 18.8 | 30.6 | · | 9.0 | 3.4 | 3.6 | · | 4.4 | 6.2 | · | · | 10.4 | 14.7 | 16.7 | · | 12.3 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-3.68 | $-2.78 | · | $-246.54 | $-11.98 | $0.53 | · | $1.06 | $1.43 | · | · | $2.58 | $3.03 | $3.44 | · | $4.13 | |
| Cash Flow / Share | · | $-0.89 | · | · | · | $-0.25 | · | · | · | · | · | · | · | $-0.37 | · | · | |
| Cash / Share | $1.98 | $3.13 | · | $17.78 | $1.52 | $0.40 | · | $0.77 | $1.11 | · | · | $0.66 | $0.48 | $0.63 | · | $1.58 | |
| EPS (TTM) | $-63.95 | $-314.03 | · | $-403.20 | $-289.62 | $-38.79 | · | $-9.29 | $-1.73 | $-1.82 | · | $-1.88 | $-2.02 | $-2.15 | · | $-2.30 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $628M | $-883M | · | $-2.45B | $-1.66B | $-119M | · | $-112M | $-118M | $-122M | · | $-116M | $-106M | $-98M | · | $-86M | |
| Market Cap | $1.00B | $967M | · | $440M | $4.07B | $1.79B | · | $961M | $1.37B | · | · | $2.87B | $4.17B | $7.20B | · | $3.06B | |
| P/E | -0.3 | -0.1 | · | -0.1 | -0.1 | -0.4 | · | -1.5 | -11.6 | -26.0 | · | -22.6 | -30.6 | -50.0 | · | -34.6 | |
| P/B | -5.0 | -6.4 | · | -0.2 | -2.7 | 27.1 | · | 13.2 | 13.9 | · | · | 16.4 | 20.4 | 31.3 | · | 19.3 | |
| P / Tangible Book | · | · | · | · | · | 27.1 | · | 13.2 | 13.9 | 26.3 | · | 16.4 | 20.4 | 31.3 | · | 19.3 | |
| P / Cash Flow | · | -25.3 | · | · | · | -57.7 | · | · | · | · | · | · | · | -296.8 | · | · | |
| Earnings Yield | -347.4% | -1760.3% | · | -827.6% | -893.9% | -270.1% | · | -66.4% | -8.6% | -3.8% | · | -4.4% | -3.3% | -2.0% | · | -2.9% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Net Income | $-696M | $-117M | $-118M | $-92M | $-69M |
| Diluted EPS | $-70.50 | $-34.03 | $-1.75 | $-2.33 | $-2.10 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 18.2 | 5.2 | 9.0 | 18.1 | 21.1 |
| Quick Ratio | 18.1 | 4.9 | 8.8 | 17.6 | 20.4 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-144M | $-100M | $-101M | $-94M | $-73M |
Institutional owners (13F) 104 filers · $903.5M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
104
Value held
$903.5M
New positions
39
Exited positions
17
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 39 (+5 vs prior Q) | 17 (+7 vs prior Q) | 34 (+8 vs prior Q) | 20 (+10 vs prior Q) | +8.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| TCG Crossover Management, LLC | $104,441,366 | 5,673,078 | 11.56% | Shares |
| FMR LLC | $90,800,863 | 4,932,149 | 10.05% | Shares |
| FCPM III SERVICES B.V. | $75,800,487 | 4,117,354 | 8.39% | Shares |
| BlackRock, Inc. | $63,847,850 | 3,468,107 | 7.07% | Shares |
| Venrock Adviser, LLC | $55,998,047 | 3,041,719 | 6.20% | Shares |
| STATE STREET CORP | $48,166,746 | 2,616,336 | 5.33% | Shares |
| Frazier Life Sciences Management, L.P. | $46,833,917 | 2,543,939 | 5.18% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $44,222,569 | 2,402,095 | 4.89% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $38,372,478 | 2,084,328 | 4.25% | Shares |
| Caligan Partners LP | $35,440,465 | 1,925,066 | 3.92% | Shares |
| Paradigm Biocapital Advisors LP | $32,217,500 | 1,750,000 | 3.57% | Shares |
| GREAT POINT PARTNERS LLC | $31,297,000 | 1,700,000 | 3.46% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $19,563,726 | 1,062,469 | 2.17% | Shares |
| NEXTBio Capital Management LP | $16,369,509 | 889,164 | 1.81% | Shares |
| Nantahala Capital Management, LLC | $15,556,450 | 845,000 | 1.72% | Shares |
| ADAR1 Capital Management, LLC | $12,530,325 | 680,626 | 1.39% | Shares |
| Logos Global Management LP | $11,966,500 | 650,000 | 1.32% | Shares |
| Rosalind Advisors, Inc. | $11,940,726 | 648,600 | 1.32% | Shares |
| NAN FUNG TRINITY (HK) LTD | $11,902,986 | 646,550 | 1.32% | Shares |
| BRAIDWELL LP | $10,550,845 | 573,104 | 1.17% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $10,285,704 | 558,702 | 1.14% | Shares |
| VANGUARD GROUP INC | $10,074,870 | 770,250 | 1.12% | Shares |
| UBS Group AG | $9,081,248 | 493,278 | 1.01% | Shares |
| MILLENNIUM MANAGEMENT LLC | $7,880,713 | 428,067 | 0.87% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $7,666,237 | 416,417 | 0.85% | Shares |
| Woodline Partners LP | $6,990,700 | 379,723 | 0.77% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,266,101 | 340,364 | 0.69% | Shares |
| GOLDMAN SACHS GROUP INC | $6,054,902 | 328,892 | 0.67% | Shares |
| NORTHERN TRUST CORP | $6,052,141 | 328,742 | 0.67% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,535,961 | 300,704 | 0.61% | Shares |
| Clearline Capital LP | $5,251,931 | 285,276 | 0.58% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,272,175 | 177,739 | 0.36% | Shares |
| CITADEL ADVISORS LLC | $2,953,222 | 160,414 | 0.33% | Shares |
| Eversept Partners, LP | $2,755,627 | 149,681 | 0.30% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,234,937 | 121,398 | 0.25% | Shares |
| Bank of New York Mellon Corp | $1,799,062 | 97,722 | 0.20% | Shares |
| MARSHALL WACE, LLP | $1,760,788 | 95,643 | 0.19% | Shares |
| Nuveen, LLC | $1,745,544 | 94,815 | 0.19% | Shares |
| AXIOM INVESTORS LLC /DE | $1,695,653 | 92,105 | 0.19% | Shares |
| XTX Topco Ltd | $1,521,494 | 82,645 | 0.17% | Shares |
| Jump Financial, LLC | $1,305,066 | 70,889 | 0.14% | Shares |
| Invesco Ltd. | $1,257,421 | 68,301 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,189,286 | 64,600 | 0.13% | Put option |
| CITIGROUP INC | $1,162,224 | 63,130 | 0.13% | Shares |
| MORGAN STANLEY | $1,133,338 | 61,561 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $1,059,081 | 57,528 | 0.12% | Shares |
| ALPS ADVISORS INC | $1,012,513 | 54,998 | 0.11% | Shares |
| D. E. Shaw & Co., Inc. | $1,006,493 | 54,671 | 0.11% | Shares |
| JOHNSON & JOHNSON | $989,206 | 53,732 | 0.11% | Shares |
| Rafferty Asset Management, LLC | $898,739 | 48,818 | 0.10% | Shares |
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×19 filings | July 21, 2026 | 19.90% | Amendment | Board campaign | SEC |
| ForGrowth III PA B.V., Forbion Growth Opportunities Fund III Cooperatief U.A., Forbion Growth III Management B.V. | Dec. 23, 2025 | 9.99% | Initial filing | Board campaign | SEC |
| Reprogrammed Interchange LLC, Reid Hoffman ×9 filings | Oct. 17, 2025 | 17.60% | Amendment | · | SEC |
| 5AM Ventures VI, L.P., 5AM Partners VI, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Kush Parmar ×3 filings | July 9, 2025 | 3.50% | Amendment | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 25 insiders · 10 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jean-Paul Kress | CEO and Chairman | Dec. 5, 2025 A | · | 0 | 0 | $0 |
| Robert Ang | PRESIDENT AND CEO | May 6, 2025 F | 911,318 | 0 | 0 | $0 |
| Sandesh Mahatme | CFO | Dec. 5, 2025 A | 0 | 0 | 0 | $0 |
| Han Wook Choi | Chief Financial Officer | May 1, 2025 F | 51,280 | 0 | 0 | $0 |
| Nathan D. Jorgensen | CHIEF FINANCIAL OFFICER | May 6, 2024 F | 189,403 | 0 | 0 | $0 |
| Qing Che Zuraw | Chief Development Officer | Dec. 5, 2025 A | 937,080 | 0 | 0 | $0 |
| Tirtha Chakraborty | Chief Sci Off & Head Tech Ops | May 6, 2025 F | 217,416 | 0 | 0 | $0 |
| Eyal C. Attar | CHIEF MEDICAL OFFICER | Feb. 13, 2025 S | 126,625 | 0 | 0 | $0 |
| Amy Quinlan | Vice President of Finance | Nov. 6, 2024 F | 50,312 | 0 | 0 | $0 |
| Christopher Slapak | Chief Medical Officer | Feb. 1, 2022 A | · | 0 | 0 | $0 |
| David Zaccardelli | Director | July 7, 2026 A | · | 0 | 0 | $0 |
| Wouter Joustra | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Andrew David Levin | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Michel Detheux | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Fouad Namouni | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Alexander Cumbo | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Daniella Beckman | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Erez Kalir | Director | June 11, 2026 A | · | 0 | 0 | $0 |
| Sarah Burgess Reed | Director | Sept. 8, 2025 A | · | 0 | 0 | $0 |
| Joshua Resnick | Director | May 22, 2025 A | · | 0 | 0 | $0 |
| Sven Ante Lundberg | Director | May 22, 2025 A | · | 0 | 0 | $0 |
| David Charles Lubner | Director | May 22, 2025 A | · | 0 | 0 | $0 |
| Matthew R Patterson | Director | May 22, 2025 A | · | 0 | 0 | $0 |
| Kush Parmar | Director | June 14, 2022 A | 1,766,634 | 0 | 0 | $0 |
| Alexandria Venture Investments, LLC | 10% owner | Feb. 9, 2021 C | 282,804 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 22 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.99% | 21,644 NS | July 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.26% | 59,675 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.22% | 138,968 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.19% | 28,491 SH | Oct. 2, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.16% | 115,450 NS | July 31, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.07% | 4,195 SH | Oct. 2, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.07% | 815 NS | July 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.04% | 263,868 SH | Sept. 11, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.03% | 29,989 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 1,046,684 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 19,535 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 234,796 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 20,868 SH | Oct. 2, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 492,007 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 11,048 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 61,141 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 2,468 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 67,560 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 13,099 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,550,885 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,390 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 117,140 SH | Sept. 11, 2026 | Daily |
VOR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$40.00
+114.0%
5 38.5%
Strong Buy
6 46.2%
Buy
2 15.4%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
8 analysts · 2026-09-29Mean target $39.00 +108.7%
← Below all targets
Current price $18.69
Low$27.00
Mean$39.00
High$50.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VOR | $506M | -0.2 | · | · | 83.4% | · |
| REPL | $633M | -2.3 | · | · | -146.2% | · |
| MNKD | $1.75B | 283.5 | 22.2% | 1.7% | -11.1% | · |
| TRAX | · | · | · | · | · | · |
| BCAX | $953M | -6.7 | · | · | -33.0% | · |
| MGTX | $645M | -5.6 | 144.6% | -140.3% | 8062.2% | · |
| JANX | $833M | -7.5 | -5.5% | -1136.2% | -11.7% | · |
| AKTS | · | · | · | · | · | · |
| CGEM | $624M | -3.2 | · | · | -44.0% | · |
| ODTX | · | · | · | · | · | · |
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Source: SEC 10-Q filed Aug 11, 2026