Voyager Therapeutics Inc · Q1 2023 earnings

Briefing

Voyager Therapeutics' first quarter 2023 financial results were reported, highlighted by strategic collaborations and advancements in Alzheimer's disease programs.

Voyager Therapeutics reported a net income of $124.0 million for Q1 2023, a significant increase compared to the net loss of $21.3 million for the same period in 2022. This improvement was primarily driven by collaboration revenues of $150.5 million, resulting from strategic collaborations with Neurocrine Biosciences and Novartis.

• Secured $175 million upfront in a strategic collaboration with Neurocrine Biosciences for the GBA1 gene therapy program and three new gene therapy programs.
• Novartis exercised options to Voyager's novel capsids for two neurologic disease targets, triggering a $25 million payment.
• Advanced Alzheimer’s disease franchise by selecting a lead candidate for anti-tau antibody program and launching a tau knock-down gene therapy program.
• Cash, cash equivalents and marketable securities as of March 31, 2023, were $273.3 million.

Headline financials

Revenue & EPS history

Voyager expects that its cash, cash equivalents, and marketable securities, together with the $25.0 million options exercise payment received in April 2023 from Novartis, along with amounts expected to be received as reimbursement for development costs under the Neurocrine collaborations, to be sufficient to meet Voyager’s planned operating expenses and capital expenditure requirements into 2025.