Vor Biopharma Stock Sinks 48%

(RTTNews) - Vor Biopharma Inc. (VOR) is down 47.19 percent to $9.91 in Tuesday trading, likely reacting to yesterday's announcement of a heavily discounted public offering.

With a projected gross profit of $100 million and a 30-day option for underwriters to purchase an extra 1.5 million shares, the company priced 10 million shares at $10.00 each. The transaction should close on November 12.

VOR has so far fluctuated between $9.00 and $10.21, opening at $9.60 following a previous close of $18.80 on the Nasdaq. The volume has increased to 7.35 million, which is significantly higher than the 374,350 average.

The stock is currently trading between $2.62 and $65.80 over a 52-week period.