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VOR Vor Reports First Quarter 2021 Financial Results and Provides Company Update May 6 , 2021 Health Canada clears the CTA for VOR33 clinical trial Vor to present on VOR33 manufacturing scale - up and in - depth genomic characterization at the American Society of Gene & Cell Therapy ( ASGCT ) Annual Meeting Successful completion of Initial Public Offering raising $ 203.4 million in gross proceeds CAMBRIDGE , Mass . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Vor Biopharma ( Nasdaq : VOR or the Company ) today reported financial results for the three - month period ended March 31 , 2021 , and provided an update on its business , including the announcement of the second regulatory authority to allow development of VOR33 in acute myeloid leukemia ( AML ) patients with the Canadian clinical trial application ( CTA ) clearance . " The Vor team remains focused on delivering upon multiple clinical and operational milestones , " said Robert Ang , MBBS , MBA , Vor's President and Chief Executive Officer . " We have established a strong foundation to generate several important catalysts over the next 12 to 24 months which will demonstrate the potential of Vor's novel platform . With respect to our lead clinical program , VOR33 in patients suffering from acute myeloid leukemia , we remain on track to enroll the first patient in our Phase 1 / 2a trial in the second quarter of 2021. ” Corporate Highlights • Health Canada clears the CTA for VOR33 clinical trial . In April 2021 , the Company received a No Objection Letter from Health Canada for its CTA to conduct a clinical trial for Vor's lead engineered hematopoietic stem cell ( eHSC ) product candidate , VOR33 . This CTA clearance represents the second regulatory authority to allow development of VOR33 in AML patients following the U.S. Food and Drug Administration's clearance of Vor's investigational new drug ( IND ) application for VOR33 in AML in January 2021. The Canadian CTA utilizes the same protocol as cleared under the IND in the U.S. and data from these patients can be used with data from U.S. - treated patients to expedite development . Vor expects to initiate a first - in - human Phase 1 / 2a trial of VOR33 in AML patients in combination with Mylotarg ™ ( gemtuzumab ozogamicin ) by enrolling the first patient in the second quarter of 2021. The Company believes VOR33 , if successful , has significant potential to improve clinical outcomes for malignant cancers beyond AML . • Vor to present on VOR33 manufacturing scale - up and in - depth genomic characterization at the American Society of Gene & Cell Therapy ( ASGCT ) Annual Meeting , taking place virtually May 11-14 , 2021. On May 11 , 2021 at 7:00 PM ET , the Company will conduct an oral presentation titled VOR33 : A Clinic - Ready CRISPR / Cas9 Engineered Hematopoietic Stem Cell Transplant for the Treatment of Acute Myeloid Leukemia . The study outlined the pre - clinical journey of VOR33 and the manufacturing scale - up for its clinical development . Also on May 11 , 2021 , between 8:00 AM and 10:00 AM ET , the Company will have a poster presentation titled Rigorous Assessment of Off - Target Editing by CRISPR / Cas9 in VOR33 , an Engineered Hematopoietic Stem Cell Transplant for the Treatment of Acute Myeloid Leukemia . The in - depth genomic characterization included evaluation of homology sequence based as well as sequence homology independent off - target assessment through deep sequencing of genome - edited DNA . These studies confirmed that CD33 - edited HSCs , generated at clinical scale , had no significantly detectable genotoxic risk . • Successful completion of Initial Public Offering raising $ 203.4 million in gross proceeds . In February 2021 , the Company completed its IPO , raising $ 203.4 million in gross proceeds before deducting underwriting discounts , commissions and other offering expenses . First Quarter 2021 Financial Results • Cash and Cash Equivalents : Vor finished the first quarter of 2021 with $ 262.6 million in cash and cash equivalents , compared with $ 48.5 million as of December 31 , 2020. Cash and cash equivalents on March 31 , 2021 includes the $ 186.3 million in net proceeds from the Company's IPO completed in February 2021 as well as $ 45.4 million in net proceeds from the completion of its Series B preferred stock financing in January 2021 . • R & D Expenses : Research and development expenses increased to $ 8.9 million in the first quarter of 2021 , up from $ 6.2 million in the first quarter of 2020. The increase in research and development expenses was primarily due to an increase in employee headcount necessary to support the growth of our research and development efforts and increases in facilities and other expenses .