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Vor Biopharma Soars 10% as New CEOs Join Board
29 Jul
Summary
- Vor Biopharma stock jumps 10% on Monday
- Company adds two new CEOs, Alexander Cumbo and Michel Detheux, to its board
- Cumbo and Detheux bring extensive commercial and leadership experience
Vor Biopharma Inc. (NASDAQ:VOR) has seen its stock price soar in recent days, jumping 10% on Monday to close at $2.42 per share. This marks the fourth consecutive day of gains for the biotech company, bucking the overall decline in the healthcare sector.
The surge in Vor Biopharma's stock price comes on the heels of the company's announcement last week that it has added two new CEOs to its board of directors. Alexander Cumbo, the president and CEO of Solid Biosciences, and Michel Detheux, the president and CEO of iTeos Therapeutics, have joined Vor's leadership team.
Cumbo brings over 30 years of commercial and executive experience, including nearly eight years at Sarepta Therapeutics, where he most recently served as Executive Vice President and Chief Commercial Officer. Detheux, meanwhile, has led iTeos to raise over $1 billion in capital, complete a successful IPO, and secure a landmark $2 billion partnership with GSK.
Vor Biopharma believes that the addition of these two seasoned executives will be invaluable as the company advances its lead candidate, telitacicept, through late-stage development and expands its long-term vision to bring transformative therapies to patients with autoimmune diseases.
