Vor Biopharma Inc. ( 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.

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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