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DJ Vor Biopharma Prices Upsized IPO At The Top Of The Expected Range, Raises $177 Million -- MarketWatch

· 02/05/2021 08:36
For more from MarketWatch: http://www.marketwatch.com/newsviewer

Vor Biopharma Inc. (VOR), the Massachusetts-based cell therapy company focused on cancer treatments, said Friday that its upsized initial public offering priced at the top of the expected range to raise $176.9 million. The company, which was co-founded by PureTech Health PLC , said it sold 9.83 million shares in the IPO, which priced at $18 a share. The company had previously said it was offering 8.23 million shares, and the IPO was expected to price between $16 and $18 a share. With 34.64 million shares outstanding after the IPO, the pricing values Vor at $623.5 million. The stock is expected to start trading Friday on the Nasdaq, under the ticker symbol "VOR." Goldman Sachs, Evercore ISI, Barclays and Stifel were the underwriters. For the nine months through Sept. 30, the company recorded a net loss of $31.4 million on no revenue, after a loss of $8.2 million on no revenue in the same period a year ago. The company is going public at a time that the Renaissance IPO ETF (IPO) has rallied 29.0% over the past three months while the S&P 500 has gained 10.3%.

-Tomi Kilgore

(END) Dow Jones Newswires

February 05, 2021 08:36 ET (13:36 GMT)

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