Voyager Therapeutics Reports Q1 2024 Results, Focus on Gene Therapy Development

TL;DR

**Voyager Therapeutics (VYGR) filed its Q1 2024 10-Q, highlighting ongoing gene therapy development and key partnerships.**

AI Summary

Voyager Therapeutics, Inc. (VYGR) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Voyager Therapeutics reported Q1 2024 results on May 13, 2024. The company is focused on gene therapy development. Key collaborations include agreements with Neurocrine Biosciences and Novartis. Voyager Therapeutics is incorporated in Delaware. The company's principal executive offices are located at 75 Hayden Avenue, Lexington, MA.

Why It Matters

For investors and stakeholders tracking Voyager Therapeutics, Inc., this filing contains several important signals. The filing provides an update on Voyager's financial and operational status, crucial for investors tracking progress in the competitive gene therapy market. Details on collaborations with Neurocrine Biosciences and Novartis are important for understanding potential future revenue streams and pipeline advancements.

Risk Assessment

Risk Level: medium — Voyager Therapeutics, Inc. shows moderate risk based on this filing. The company's financial health and ability to fund its research and development activities are subject to market conditions and the success of its clinical trials, which carry inherent risks.

Analyst Insight

Investors should monitor upcoming clinical trial results and partnership milestones for Voyager Therapeutics (VYGR) to assess its progress in the gene therapy space.

Key Numbers

• 2024-03-31 — Report Date (Conformed Period of Report)
• 2024-05-13 — Filing Date (As of Date)
• 0001640266 — Central Index Key (Company Identifier)
• 0001558370-24-007953 — Accession Number (Filing Identifier)
• 1934 Act — SEC Act (Governing Legislation)
• 1231 — Fiscal Year End (Reporting Cycle)

Key Players & Entities

• Voyager Therapeutics, Inc. (company) — Filer
• Neurocrine Biosciences, Inc. (company) — Collaboration Partner
• Novartis Pharma AG (company) — Collaboration Partner
• 75 Hayden Avenue, Lexington, MA (company) — Business Address
• DE (company) — State of Incorporation
• 2836 (regulator) — Standard Industrial Classification
• 001-37625 (regulator) — SEC File Number
• 24938872 (regulator) — Film Number

FAQ

Risk Factors

• Net Loss [medium — financial]: The company has a history of net losses and may not achieve profitability.
• Regulatory Approval Risk [high — regulatory]: The development and commercialization of gene therapies are subject to stringent regulatory review and approval processes.
• Competition [medium — market]: The gene therapy market is highly competitive, with numerous companies developing similar treatments.
• Reliance on Third Parties [medium — operational]: Voyager relies on third-party manufacturers for its gene therapy products, creating potential supply chain risks.

Industry Context

Voyager Therapeutics operates in the biotechnology sector, specifically focusing on the development of gene therapies for serious diseases. This industry is characterized by high R&D costs, long development cycles, and significant regulatory hurdles.

Regulatory Implications

The development and approval of gene therapies are overseen by regulatory bodies like the FDA, which require extensive clinical data to demonstrate safety and efficacy before market authorization.

What Investors Should Do

1. Review the detailed financial statements in the 10-Q for cash burn rate and liquidity.
2. Analyze the progress and milestones related to the Neurocrine Biosciences and Novartis collaborations.
3. Assess the company's pipeline and the competitive landscape for its gene therapy candidates.

Key Dates

• 2024-03-31: Quarter End — Reporting period for the 10-Q filing
• 2024-05-13: Filing Date — Date the 10-Q was officially submitted to the SEC
• 2024-01-04: Over-Allotment Option Exercise — Related to a previous financing event
• 2023-12-28: Novartis Collaboration Agreement — Key partnership agreement

Year-Over-Year Comparison

This 10-Q filing provides the first quarter 2024 financial and operational update, following the company's previous filings.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value VYGR Nasdaq Global Select

Filing Documents

• vygr-20240331x10q.htm (10-Q) — 1327KB
• vygr-20240331xex10d1.htm (EX-10.1) — 46KB
• vygr-20240331xex10d4.htm (EX-10.4) — 59KB
• vygr-20240331xex31d1.htm (EX-31.1) — 13KB
• vygr-20240331xex31d2.htm (EX-31.2) — 13KB
• vygr-20240331xex32d1.htm (EX-32.1) — 10KB
• vygr-20240331x10q006.jpg (GRAPHIC) — 87KB
• 0001558370-24-007953.txt ( ) — 6348KB
• vygr-20240331.xsd (EX-101.SCH) — 41KB
• vygr-20240331_cal.xml (EX-101.CAL) — 48KB
• vygr-20240331_def.xml (EX-101.DEF) — 182KB
• vygr-20240331_lab.xml (EX-101.LAB) — 372KB
• vygr-20240331_pre.xml (EX-101.PRE) — 294KB
• vygr-20240331x10q_htm.xml (XML) — 1030KB

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "target," "potential," "contemplate," "anticipate," "goals," "will," "would," "could," "should," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about: our plans to develop and commercialize our product candidates based on adeno-associated virus, or AAV, gene therapy and our proprietary antibodies; our ability to continue to develop our proprietary gene therapy platform technologies, including our TRACER TM (Tropism Redirection of AAV by Cell-type-specific Expression of RNA) discovery platform and our vectorized antibody platform, our proprietary antibody program, and our gene therapy and vectorized antibody programs; our ability to identify and optimize product candidates and proprietary AAV capsids; our strategic collaborations and licensing agreements with, and funding from, our collaboration partners Neurocrine Biosciences, Inc. and Novartis Pharma AG, or Novartis, and our licensee Alexion, AstraZ

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 5 CONDENSED CONSOLIDATED BALANCE SHEETS 5 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) Income 6 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY 7 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 8 NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 9 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 18 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 37

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 37 ITEM 1A.

RISK FACTORS

RISK FACTORS 38 ITEM 2 . UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 38 ITEM 5. OTHER INFORMATION 38 ITEM 6. EXHIBITS 39

SIGNATURES

SIGNATURES 41 4 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Voyager Therapeutics, Inc. Condensed Consolidated Balance Sheet s (amounts in thousands, except share and per share data) (unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 143,078 $ 68,802 Marketable securities, current 256,490 162,073 Accounts receivable 837 80,150 Related party collaboration receivable 2,620 3,341 Prepaid expenses and other current assets 6,112 5,318 Total current assets 409,137 319,684 Property and equipment, net 17,381 16,494 Deposits and other non-current assets 2,890 1,593 Marketable securities, non-current 980 — Operating lease, right-of-use assets 39,204 13,510 Total assets $ 469,592 $ 351,281 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 7,579 $ 1,604 Accrued expenses 7,595 16,823 Other current liabilities 5,940 3,200 Deferred revenue, current 51,439 42,881 Total current liabilities 72,553 64,508 Deferred revenue, non-current 13,157 32,359 Other non-current liabilities 42,996 18,094 Total liabilities 128,706 114,961 Commitments and contingencies (see note 7) Stockholders' equity: Preferred stock, $ 0.001 par value: 5,000,000 shares authorized at March 31, 2024 and December 31, 2023; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value: 120,000,000 shares authorized at March 31, 2024 and December 31, 2023; 54,318,133 and 44,038,333 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 54 44 Additional paid-in capital 613,850 497,506 Accumulated other comprehensive loss ( 506 ) ( 48 ) Accumulated deficit ( 272,512 ) ( 261,182 ) Total stockholders' equity 340,886 236,320 Total liabilities and stockholders' equity $ 469,592 $ 351,281 The accompanying notes are an integral part of these condensed c

View Full Filing

View this 10-Q filing on SEC EDGAR