Voyager Therapeutics Announces Q2 2024 Financial and Operating Results

Voyager Therapeutics, Inc., a biotechnology firm focused on neurogenetic medicines, has reported its financial and operational results for the second quarter of 2024. The company, known for its research in neurological diseases such as Alzheimer’s, ALS, and Parkinson’s, is advancing several key projects with promising timelines and financial backing.

In the second quarter, Voyager initiated a Phase 1a single ascending dose (SAD) trial of its anti-tau antibody VY7523 for Alzheimer’s disease. This trial, which is double-blind and placebo-controlled, aims to evaluate the safety and pharmacokinetics of VY7523 in healthy volunteers. The enrollment of around 48 participants is on schedule, and key safety and pharmacokinetic data are expected in the first half of 2025. This trial is crucial because VY7523 has shown potential in reducing tau protein spread in Alzheimer’s models.

Parallel to this, Voyager has made significant strides in its gene therapy pipeline. The VY9323 program for SOD1 ALS has completed pre-IND meetings with the FDA and begun Good Laboratory Practice (GLP) toxicology studies, moving towards an IND filing by mid-2025. Additionally, Voyager, in collaboration with Neurocrine Biosciences, has selected development candidates for the GBA1 gene therapy program aimed at treating Parkinson’s disease and other GBA1-mediated conditions, resulting in a $3 million milestone payment.

Voyager has also secured its financial leadership by appointing Nathan Jorgensen, Ph.D., as Chief Financial Officer. Dr. Jorgensen’s extensive background in investment banking, healthcare investment, and biotech operations is expected to be instrumental in guiding the company’s financial strategies.

At the American Society of Gene & Cell Therapy (ASGCT) 27th annual meeting, Voyager presented a range of translational data, including findings on its TRACER™-derived AAV capsids. This included cross-species receptor data and activity against targets in Alzheimer’s and ALS, highlighting the potential translational impact of their research.

The company’s financial results for the second quarter of 2024 show a notable increase in collaboration revenues, which reached $29.6 million compared to $4.9 million in the same period the previous year. This increase is attributed primarily to its agreements with Neurocrine and Novartis. Despite this, Voyager reported a net loss of $10.1 million, an improvement from the $22.2 million net loss in the second quarter of 2023. Increased collaboration revenue was a significant factor in minimizing losses.

Research and development (R&D) expenses rose to $34.5 million from $22 million in the previous year, driven by higher facilities costs, including a non-recurring lease impairment charge and increased program-related spending and headcount. General and administrative expenses also saw an uptick, totaling $10.2 million in the second quarter compared to $8.3 million in 2023, primarily due to non-recurring items such as lease impairments and personnel transition costs.

Voyager’s financial position remains robust, with $371 million in cash, cash equivalents, and marketable securities as of June 30, 2024. The company anticipates that this financial strength will sustain its operations and support multiple clinical data readouts into 2027.

Looking ahead, Voyager expects to initiate a multiple ascending dose (MAD) trial for VY7523 in early Alzheimer’s patients in 2025, potentially offering initial tau PET imaging data by the second half of 2026. For the VY9323 program, the company plans to file an IND and start clinical trials in SOD1 ALS patients by mid-2025, with prospects for proof-of-concept data based on specific biomarkers.

In summary, Voyager Therapeutics is making substantial progress in its neurogenetic medicine pipeline, supported by strategic financial management and robust research and development activities. With several critical milestones on the horizon, the company is well-positioned to advance its mission of addressing severe neurological diseases.