Vor Biopharma's QQ4 2024 results underscore a clinical-stage biotech profile: no revenue recognized in the quarter, ongoing operating losses driven by R&D and G&A expenses, and a clear emphasis on advancing the VOR33 engineered HSC program. The quarter closed with a robust liquidity position and a net cash balance that provides runway into 2025, aided by a substantial financing infusion. Key quarterly metrics show an EBITDA deterioration consistent with early-stage biotech economics, but the company preserves financial flexibility to fund its pipeline milestones absent immediate revenue generation. Competitive biology dynamics and clinical risk remain the primary overhangs, while the potential upside hinges on successful trial updates and strategic collaborations.
Key Performance Indicators
Operating Income
Decreasing
-31.31M
QoQ: -9.81% | YoY: -11.33%
Net Income
Decreasing
-30.71M
QoQ: -11.44% | YoY: -16.95%
EPS
Decreasing
-0.45
QoQ: -12.50% | YoY: -15.38%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue: not recognized in QQ4 2024; trailing four-quarter revenue temporarily flat given absence of quarterly top-line data in 2024. - Operating income: -$31.31M in QQ4 2024, YoY -11.33%, QoQ -9.81%. - Net income: -$30.71M, YoY -16.95%, QoQ -11.44%. - EPS: -$0.45, YoY -15.38%, QoQ -12.50%. - EBITDA: -$30.45M. - R&D expense: $25.35M; G&A: $5.96M. - Operating cash flow: -$24.06M; Capex: $0.072M; Free cash flow: -$24.14M. - Financing activity: +$53.29M via share issuance; Net change in cash: +$29.15M; Cash end of period: $84.36M. - Balance sheet: Total assets $142.89M; Total liabilities $46.23M; Total equity $96.66M; Net debt: -$50.12M (net cash).
Income Statement
Metric
Value
YoY Change
QoQ Change
Operating Income
-31.31M
-11.33%
-9.81%
Net Income
-30.71M
-16.95%
-11.44%
EPS
-0.45
-15.38%
-12.50%
Key Financial Ratios
Return on Assets
Weak
-0.22%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.32%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
5.19
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.33
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-0.62x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
0.79x
Trading below book value, potential value opportunity or distressed
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