Sign in

VOR on Nasdaq

Vor Biopharma Inc.

Biological products company, listed on Nasdaq (VOR)1

In its 2026 annual report the company says: “Vor Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on developing a novel therapy in the treatment of autoimmune diseases. Our global Phase 3 clinical trial in gMG is currently underway across the United States, Europe, South America, and Asia to support potential approval in the United States, Europe, and Japan.”3 It is headquartered in Boston, Massachusetts.1

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with another stock.

  • TickerVOR on Nasdaq1
  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersBoston, Massachusetts1
  • Business address500 Boylston Street, Suite 1350, Boston, Ma 021162
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2

See how the biggest companies compare on our leaderboards

Vor Biopharma, Inc. ("Vor Bio") is a clinical-stage biopharmaceutical company focused on developing a novel therapy in the treatment of autoimmune diseases. In June 2025, we in-licensed telitacicept from RemeGen Co., Ltd. (“RemeGen”). Pursuant to our license agreement with RemeGen, we were granted an exclusive license to develop and commercialize telitacicept outside of the Greater China region, which includes mainland China, Hong Kong, Macau and Taiwan. RemeGen retains development and commercialization rights in Greater China.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income45678-$371.6M in 2025+757% since 2020
-$400.0M-$300.0M-$200.0M-$100.0M02020: -$43.4M-$43.4M20202021: -$69.0M-$69.0M2021+59%2022: -$93.4M-$93.4M2022+35%2023: -$126.0M-$126.0M2023+35%2024: -$121.2M-$121.2M2024−4%2025: -$371.6M-$371.6M2025+207%
Net income45678-$696.0M in 2025+1506% since 2020
-$800.0M-$600.0M-$400.0M-$200.0M02020: -$43.3M-$43.3M20202021: -$68.9M-$68.9M2021+59%2022: -$92.1M-$92.1M2022+34%2023: -$117.9M-$117.9M2023+28%2024: -$116.9M-$116.9M2024−1%2025: -$696.0M-$696.0M2025+495%

Every line of the income statement as filed: the last 2 fiscal years, latest first.8

Period ending2025-12-312024-12-31
Research and development$321.5M$93.3M
General and administrative$50.1M$27.9M
Total operating expenses$371.6M$121.2M
Loss from operations-$371.6M-$121.2M
Interest income$5.9M$4.3M
Other income$4.2M$0
Change in fair value of warrant liabilities-$334.4M$0
Total other income (expense), net-$324.3M$4.3M
Net loss-$696.0M-$116.9M
Net loss per share, basic-$70.50-$34.03
Net loss per share, diluted-$70.50-$34.03
Weighted-average common shares outstanding, basic9.9M shares3.4M shares
Weighted-average common shares outstanding, diluted9.9M shares3.4M shares
Unrealized gain on available for sale marketable securities$19.0K$99.0K
Total other comprehensive income$19.0K$99.0K
Comprehensive loss-$696.0M-$116.8M

Compare Vor Biopharma Inc. with another company

Corporate structure

Vor Biopharma Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Vor Biopharma Inc.

  • Vor Biopharma Inc. Boston, Massachusetts

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Vor Biopharma Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$558.0K8 Dec 31, 2025$17.8M8 Dec 31, 2024−96.9%
Accumulated depreciation$25.0K8 Dec 31, 2025$11.2M8 Dec 31, 2024−99.8%
Property and equipment, net$533.0K8 Dec 31, 2025$6.6M8 Dec 31, 2024−91.9%
Operating-lease assets (leased space)$2.9M8 Dec 31, 2025$35.0M8 Dec 31, 2024−91.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$396.5M8 Dec 31, 2025$81.9M8 Dec 31, 2024+383.8%
Marketable securities, current$58.7M8 Dec 31, 2025$10.0M8 Dec 31, 2024+488.6%
Debt securities available for sale$58.7M8 Dec 31, 2025$10.0M8 Dec 31, 2024+488.6%

Properties, in its own words

Our principal executive office is located at 500 Boylston Street, Suite 1350, Boston, Massachusetts where we lease approximately 8,391 square feet of office space pursuant to a lease that expires in August 2031. We believe that this facility will be adequate for our near-term needs. If required, we believe that suitable additional or alternative space would be available in the future on commercially reasonable terms.

Item 2 of the 10-K filed Mar 30, 2026.3

Leadership

Who has led Vor Biopharma Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert Ang2021–2025
  2. Jean-Paul Kress2025–now

Chair

  1. Jean-Paul Kress2025–now

President

  1. Robert Ang2021–now

Chief financial officer

  1. Nathan D. Jorgensen2021–2024
  2. Han Wook Choi2024–2025
  3. Sandesh Mahatme2025–now
2025
Board members and other officers (23)

Timeline

  1. Jul 7, 20268-K Executive or director change37
  2. Jun 12, 20268-K Shareholder vote38
  3. Jun 8, 20268-K Regulation FD disclosure39
  4. Mar 27, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure40
  5. Jan 12, 20268-K Results of operations; Regulation FD disclosure41
  6. Jan 2, 20268-K Executive or director change42
  7. Dec 18, 20258-K Entered a material agreement; Unregistered sale of shares; Executive or director change43
  8. Dec 9, 20258-K Executive or director change44
  9. Nov 12, 20258-K Other events45
  10. Nov 3, 20258-K Executive or director change; Regulation FD disclosure46
  11. Oct 28, 20258-K Regulation FD disclosure47
  12. Sep 17, 20258-K Change to shareholders' rights; Other events48
  13. Jun 27, 2025New chief executive Jean-Paul Kress becomes CEO11
  14. Feb 4, 2021New chief executive Robert Ang becomes CEO12

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($3.33) a share, on Nov 13, 2025.49

When it reported results

  1. Jan 12, 2026Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

398 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 46 major events, 182 insider forms, 65 large holders, 84 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Sep 4, 2026S-3ASR EDGAR
  3. Aug 26, 20264 EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 14, 2026SCHEDULE 13G/A EDGAR
  6. Aug 13, 2026SCHEDULE 13G/A EDGAR
  7. Aug 11, 202610-Q EDGAR
  8. Aug 7, 2026SCHEDULE 13G/A EDGAR
  9. Aug 6, 2026SCHEDULE 13G EDGAR
  10. Jul 30, 2026SCHEDULE 13G EDGAR
  11. Jul 21, 2026SCHEDULE 13D/A EDGAR
  12. Jul 21, 20264 EDGAR
  13. Jul 9, 20263 EDGAR
  14. Jul 9, 20264 EDGAR
  15. Jul 7, 20268-K EDGAR
  16. Jun 12, 20264 EDGAR
  17. Jun 12, 20264 EDGAR
  18. Jun 12, 20264 EDGAR
  19. Jun 12, 20264 EDGAR
  20. Jun 12, 20264 EDGAR

The 398 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

59 open-market trades by officers, directors and large owners since October 2021: 1 buys and 58 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 16, 2026Shah Rajeev M.10% ownerSale213$19.75$4.2KForm 4
Apr 22, 2026Shah Rajeev M.10% ownerSale165,150$15.77$2.6MForm 4
Apr 20, 2026RA CAPITAL MANAGEMENT, L.P.10% ownerSale171,963$15.77$2.7MForm 4
Apr 17, 2026RA CAPITAL MANAGEMENT, L.P.10% ownerSale458,411$16.28$7.5MForm 4
Apr 15, 2026RA CAPITAL MANAGEMENT, L.P.10% ownerSale53,644$16.01$858.8KForm 4
Apr 14, 2026RA CAPITAL MANAGEMENT, L.P.10% ownerSale153,735$15.97$2.5MForm 4
Apr 13, 2026RA CAPITAL MANAGEMENT, L.P.10% ownerSale530,610$16.15$8.6MForm 4
Apr 10, 2026Shah Rajeev M.10% ownerSale828$15.75$13.0KForm 4
Apr 9, 2026Shah Rajeev M.10% ownerSale135,201$16.59$2.2MForm 4
Apr 8, 2026Shah Rajeev M.10% ownerSale484,104$16.48$8.0MForm 4
Apr 6, 2026Kolchinsky Peter10% ownerSale589,257$16.59$9.8MForm 4
Apr 2, 2026Kolchinsky Peter10% ownerSale260,000$18.23$4.7MForm 4
Oct 30, 2025Kolchinsky Peter10% ownerSale24,579$25.12$617.4KForm 4
Oct 29, 2025Kolchinsky Peter10% ownerSale251,518$25.22$6.3MForm 4
Oct 28, 2025Kolchinsky Peter10% ownerSale124,311$27.42$3.4MForm 4
Oct 27, 2025RA CAPITAL MANAGEMENT, L.P.10% ownerSale90,941$28.12$2.6MForm 4
Oct 24, 2025RA CAPITAL MANAGEMENT, L.P.10% ownerSale53,345$28.01$1.5MForm 4
Oct 23, 2025RA CAPITAL MANAGEMENT, L.P.10% ownerSale76,880$28.01$2.2MForm 4
Oct 21, 2025Reprogrammed Interchange LLC10% ownerSale200$30.08$6.0KForm 4
Oct 21, 2025RA Capital Nexus Fund, L.P.DirectorSale25,027$28.11$703.5KForm 4

All 59 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jean-Paul Kress$344.6K$65.0M63
2025Sandesh Mahatme$217.8K$39.4M63
2025Qing Zuraw$243.4K$11.8M63
2025Robert Ang$515.0K$3.4M63
2024Former President and Chief Executive Officer$620.9K$2.2M63

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
TCG Crossover Management, LLC5,673,078$104.4M2.5%No change
Fmr LLC4,932,149$90.8M0.0%+3,392,479
Fcpm III Services B.v.4,117,354$75.8M10.1%No change
BlackRock, Inc.3,468,107$63.8M0.0%+2,673,348
Venrock Adviser, LLC3,041,719$56.0M1.7%No change
State Street Corp2,616,336$48.2M0.0%+1,497,878
Frazier Life Sciences Management, L.P.2,543,939$46.8M1.0%No change
Ra Capital Management, L.P.2,402,095$44.2M0.4%−3,002,903
Vanguard Capital Management LLC2,084,328$38.4M0.0%+651,048
Caligan Partners LP1,925,066$35.4M1.7%No change
Paradigm Biocapital Advisors LP1,750,000$32.2M0.6%No change
Great Point Partners LLC1,700,000$31.3M7.4%−50,000
Nantahala Capital Management, LLC1,690,000$31.1M0.9%New
Geode Capital Management, LLC1,062,469$19.6M0.0%+719,896
NEXTBio Capital Management LP889,164$16.4M7.5%−110,803
ADAR1 Capital Management, LLC680,626$12.5M0.6%New
Logos Global Management LP650,000$12.0M0.5%−100,000
Rosalind Advisors, Inc.648,600$11.9M4.5%−51,400
Nan Fung Trinity (hk) Ltd646,550$11.9M1.2%New
Braidwell LP573,104$10.6M0.4%+106,330
Boothbay Fund Management, LLC558,702$10.3M0.2%+3,000
UBS Group AG493,278$9.1M0.0%+4,910
Millennium Management LLC428,067$7.9M0.0%+169,480
Sphera Funds Management Ltd.416,417$7.7M1.1%+94,500
Woodline Partners LP379,723$7.0M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Vor Biopharma Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVor Biopharma Inc.1
  • CIK0001817229
  • Employer ID (EIN)81-15911633
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address500 Boylston Street, Suite 1350, Boston, MA 021161
  • Phone617-655-65801
  • Shares outstanding59,162,294 as of Aug 6, 202610
  • Public float$76.1M as of Jun 30, 20253
  • AuditorErnst & Young LLP, Boston, Massachusetts PCAOB ID 42; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJul 10, 20201
  • Filings459 in all: 4 (179), 8-K (48), 3 (32), SCHEDULE 13D/A (24), 144 (22), 10-Q (17), SCHEDULE 13G/A (17), CORRESP (11)1
    All 41 form types

    SCHEDULE 13G (11), UPLOAD (10), S-8 (8), EFFECT (7), S-3 (7), 10-K (6), DEF 14A (6), DEFA14A (6), SC 13G/A (6), 424B5 (5), ARS (4), SC 13D/A (4), 424B3 (3), PRE 14A (2), S-1/A (2), SC 13D (2), SC 13G (2), SCHEDULE 13D (2), SEC STAFF LETTER (2), 10-Q/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DEFR14A (1), DRS (1), DRS/A (1), DRSLTR (1), FWP (1), S-1 (1), S-1MEF (1), S-3/A (1), S-3ASR (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 27, 2026
    Latest 8-K (8-K) Jul 7, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareVORNasdaq Global Select Market

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Vor Biopharma Inc. names in Item 1A of its 10-K filed Mar 30, 2026: 70 risks under these headings, as written.3

  • Risks Related to Our Financial Position and Need for Additional Capital
  • We have incurred significant net losses since inception. We expect to incur net losses for the foreseeable future and may never achieve or maintain profitability.
  • We will need substantial additional funding. If we are unable to raise capital when needed, we would be forced to delay, reduce or eliminate our research and product development programs or future commercialization efforts.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • We have a limited operating history, have not yet completed any clinical trials and have no history of commercializing products, which may make it difficult to evaluate the success of our business to date and to assess our future viability.
  • We have never generated revenue from product sales and may never become profitable.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes to offset taxable income or taxes may be limited.
  • Risks Related to Development, Manufacturing and Commercialization
  • We are substantially dependent on the success of our lead product candidate, telitacicept. If we are unable to complete development of, obtain approval for and commercialize telitacicept in a timely manner, our business will be harmed.
  • We may derive results and data for telitacicept from clinical trials conducted by RemeGen in China; our access to the clinical results and data may be limited and there is no assurance that the clinical data from any such trials will be accepted or considered by the FDA, or other comparable regulatory authorities.
  • We are dependent on third parties accurately generating and reporting data related to our product candidates, and their conduct could adversely affect our business.
  • Our clinical trials may fail to demonstrate the safety and efficacy of our product candidates, or serious adverse or unacceptable side effects may be identified during the development of our product candidates, which could increase our costs or necessitate the abandonment or limitation of the development of our product candidates.
The other 60 risks
  • Interim, topline and preliminary data from our clinical trials that we announce or publish from time to time may change as more subject data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Success in preclinical studies or clinical trials may not be indicative of results in future clinical trials, particularly for clinical trials that involve only a small number of patients.
  • We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • Even if a product candidate receives marketing approval, it may fail to achieve the degree of market acceptance by physicians, patients, healthcare payors and others in the medical community necessary for commercial success.
  • If, in the future, we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market our product candidates, we may not be successful in commercializing those product candidates if and when they are approved.
  • We face significant competition in an environment of rapid technological change, and there is a possibility that our competitors may achieve regulatory approval before us or develop therapies that are safer or more advanced or effective than ours, which may harm our financial condition and our ability to successfully market or commercialize product candidates, if approved.
  • Negative developments in the field of protein-based therapies, including in particular fusion protein therapies, or approved therapies or therapies in development for the treatment of B cell-mediated autoimmune diseases, could damage public perception of our product candidate and negatively affect our business.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of our product candidates.
  • Fusion protein therapies are novel, complex and difficult to manufacture. We could experience manufacturing problems that result in delays in the development or commercialization of telitacicept or other product candidates or otherwise harm our business.
  • If we or any contract manufacturers and suppliers that we engage fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • Risks Related to Regulatory Review
  • If clinical trials of any of our product candidates fail to demonstrate safety and efficacy to the satisfaction of regulatory authorities or do not otherwise produce positive results, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of such product candidates.
  • Even if we complete the necessary clinical trials, we cannot predict when, or if, we will obtain regulatory approval to commercialize telitacicept or any other product candidate we may develop in the United States or any other jurisdiction, and any such approval may be for a more narrow indication than we seek.
  • If we experience significant delays or difficulties in the enrollment or retention of patients in clinical trials, the cost of developing product candidates could increase and our receipt of necessary regulatory approvals could be delayed or prevented.
  • Risks Related to Our Relationships with Third Parties
  • We rely on third parties to conduct our clinical trials, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials, research or testing.
  • We will continue to contract with third parties for the manufacture and supply of materials for development of our product candidates, advancement of our current and future clinical trials, and potential commercialization of our product candidates. This increases the risk that we will not have sufficient quantities and quality of such materials for the development of our product candidates, or that such supply will not be available to us at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • We have and may enter into collaborations with third parties for the research, development and commercialization of our product candidates. If any such collaborations are not successful, we may not be able to capitalize on the market potential of those product candidates.
  • If we are not able to establish collaborations on commercially reasonable terms, we may have to alter our development and commercialization plans.
  • Risks Related to Our Intellectual Property
  • We are highly dependent on intellectual property licensed from third parties and termination of these licenses could result in the loss of significant rights, which would harm our business.
  • Our commercial success depends on our ability to obtain, maintain and protect our intellectual property and proprietary technology.
  • The patent protection we obtain for our product candidates may not be sufficient to provide us with any competitive advantage or our patents may be challenged.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position may be harmed.
  • We may not be successful in acquiring or in-licensing necessary rights to key technologies underlying our product candidates.
  • Third-party claims of intellectual property infringement, misappropriation or other violations may prevent or delay our product discovery and development efforts and have a material adverse effect on our business.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Some intellectual property that we have in-licensed may have been discovered through government funded programs and thus may be subject to federal regulations such as “march-in” rights, certain reporting requirements and a preference for U.S.-based companies. Compliance with such regulations may limit our exclusive rights and limit our ability to contract with non-U.S. manufacturers.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time-consuming and unsuccessful.
  • Changes to patent law in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we do not obtain patent term extension and data exclusivity for patents related to any of our product candidates, our business may be materially harmed.
  • Third parties may assert that our employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to Regulatory and Other Legal Compliance Matters
  • Failure to obtain marketing approval in foreign jurisdictions would prevent product candidates from being marketed in such jurisdictions, which, in turn, would materially impair our ability to generate revenue.
  • Even if we, or any collaborators we may have, obtain marketing approvals for our product candidates, the terms of approvals and ongoing regulation of our product candidates could require the substantial expenditure of resources and may limit how we, or they, manufacture and market our product candidates, which could materially impair our ability to generate revenue.
  • Even if we receive regulatory approval for any product candidate, we will be subject to ongoing obligations and continued regulatory review, which may result in significant additional expense. Additionally, our product candidates for which we obtain marketing approval could be subject to labeling and other restrictions or withdrawal from the market, and we may be subject to substantial penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our products, when and if any of them are approved.
  • Disruptions at the FDA and other government agencies caused by funding shortages, layoffs, shifting policy priorities or global health concerns could hinder their ability to hire, retain or deploy key leadership and other personnel, or otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, which could negatively impact our business.
  • Our relationships with healthcare providers, including physicians, and third-party payors will be subject to applicable anti-kickback, fraud and abuse, health data privacy, transparency, anti-bribery and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Healthcare and other reform legislation, may increase the difficulty and cost for us and any collaborators we may have to obtain marketing approval of and commercialize our product candidates, if approved, and affect the prices we, or they, may obtain.
  • The successful commercialization of our product candidates will depend in part on the extent to which governmental authorities and health insurers establish adequate coverage, reimbursement levels and pricing policies. Failure to obtain or maintain coverage and adequate reimbursement for our product candidates, if approved, could limit our ability to market those products and decrease our ability to generate revenue.
  • Our employees, principal investigators, consultants and commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • Laws and regulations governing any international operations we may have in the future may preclude us from developing, manufacturing and selling certain product candidates outside of the United States and require us to develop and implement costly compliance programs.
  • We and the third parties with whom we work are subject to stringent and evolving privacy and information security laws, regulations, industry standards, policies, contractual obligations and other obligations related to privacy and information security. Our (or the third parties with whom we work) actual or perceived failure to comply with such obligations could adversely affect our business.
  • Risks Related to Employee Matters, Managing Growth and Information Technology
  • Our future success depends on our ability to retain our Chief Executive Officer and other key executives and to attract, retain and motivate qualified personnel.
  • We expect to expand our development, regulatory and future sales and marketing capabilities, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • Our insurance policies may be inadequate and potentially expose us to unrecoverable risks.
  • If our information technology systems, or those of our third-party vendors, collaborators, or other contractors or consultants or other third parties with whom we work, or our data are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to a material disruption of our product development programs, regulatory investigations or actions, litigation, fines and penalties, reputational harm and other adverse consequences.
  • Risks Related to the Ownership of Our Common Stock
  • An active trading market for our common stock may not be sustained.
  • The market price of our common stock may be volatile.
  • If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.
  • A significant portion of our total outstanding shares may be sold into the market in the near future, which could cause the market price of our common stock to decline significantly, even if our business is doing well.
  • Insiders have substantial control over our company, which could limit the ability of our other stockholders to affect the outcome of key transactions, including a change of control.
  • If we fail to establish and maintain proper and effective internal control over financial reporting, our operating results and our ability to operate our business could be harmed.
  • We are an “emerging growth company” and a “smaller reporting company,” and the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies may make our common stock less attractive to investors.
  • We will continue to incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • Our management team has broad discretion in the use of our cash reserves and may not use them effectively.
  • We do not expect to pay any dividends for the foreseeable future. Accordingly our stockholders must rely on capital appreciation, if any, for any return on their investment.
  • Unfavorable global economic conditions, new tariffs or bank closures could adversely affect our business, financial condition or results of operations.
  • Provisions in our certificate of incorporation and bylaws and under Delaware law could make a change in control of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and the federal district courts of the United States of America will be the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.

Legal proceedings

From time to time, we may become involved in legal proceedings arising in the ordinary course of our business. We are not currently subject to any material legal proceedings. Regardless of outcome, such proceedings or claims can have an adverse impact on us because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
    SEC EDGAROther events
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63