NASDAQ$VYGR
Voyager Therapeutics Inc · Q2 2025 earnings
Q2 2025 earnings · · After market close · Investor relations
Briefing
Voyager Therapeutics reported Q2 2025 results with collaboration revenue of $5.2 million and a net loss of $33.4 million.
Voyager Therapeutics posted collaboration revenue of $5.2 million for the second quarter of 2025, down from $29.6 million in the prior-year period. The company reported an operating loss of $36.6 million and a net loss of $33.4 million, or $0.57 per share. Cash, cash equivalents, and marketable securities totaled $262.0 million at quarter end, supporting operations into 2028.
- Q2 collaboration revenue declined sharply to $5.2 million from $29.6 million year-over-year due to timing of upfront recognition under the 2023 Neurocrine agreement.
- R&D expenses fell to $31.3 million while G&A expenses rose slightly to $10.5 million, reflecting restructuring actions completed in the quarter.
- Net loss widened to $33.4 million as lower revenue more than offset reduced operating expenses and interest income.
- Cash position of $262.0 million provides runway into 2028, funding multiple clinical readouts including VY7523 tau PET data in 2026.
Headline financials
Revenue & EPS history
Voyager Therapeutics · Revenue · Quarterly
$5.2M
Revenue by segment
Voyager Therapeutics · $4.6M total across 1 segment · Q3 2023
- Collaboration Revenue$4.6M-88.8%100.0%
Forward guidance
Cash runway extended into 2028 following restructuring; multiple clinical inflection points expected in 2026.
Tailwinds
- Cash position supports operations through key data readouts
- VY7523 MAD trial ongoing with initial tau PET data expected H2 2026
- Neurocrine-partnered FA and GBA1 programs on track for 2026 clinical entry
Headwinds
- Continued net losses expected as pipeline advances
- Revenue dependent on collaboration milestones and reimbursements
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports
+0.2%
Avg return
Earnings day
-1.6%
Avg return
5 days after
+2.3%
Avg return
30 days after
45%
19 / 42 earnings
Positive
+60.3%
Q4 2021
Best reaction
-21.7%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -5.0% | -0.5% | — | |
| Q4 2025 | +21.7% | +8.5% | -3.6% | |
| Q3 2025 | +0.0% | -7.7% | +3.5% | |
| Q1 2025 | +0.0% | -9.4% | +0.3% | |
| Q4 2024 | +2.3% | -2.0% | -20.2% | |
| Q3 2024 | -4.6% | -19.5% | -10.8% | |
| Q2 2024 | -11.7% | -13.2% | -20.5% | |
| Q1 2024 | -1.5% | -1.1% | -1.8% | |
| Q4 2023 | -6.6% | +8.2% | +4.5% | |
| Q3 2023 | +1.6% | -5.4% | +13.4% | |
| Q2 2023 | -1.7% | -1.2% | +12.2% | |
| Q1 2023 | +19.0% | +25.6% | +53.9% | |
| Q4 2022 | +2.1% | -5.5% | +0.4% | |
| Q3 2022 | +6.5% | +14.6% | +25.7% | |
| Q2 2022 | -2.0% | -13.6% | -6.4% | |
| Q1 2022 | -18.4% | -38.0% | -23.9% | |
| Q4 2021 | +60.3% | +42.2% | +129.8% | |
| Q3 2021 | +7.5% | +2.4% | -21.0% | |
| Q2 2021 | +10.4% | -3.1% | +4.7% | |
| Q1 2021 | +2.1% | +5.6% | +9.1% | |
| Q4 2020 | -14.0% | -14.0% | -26.9% | |
| Q3 2020 | -21.7% | -22.1% | -28.1% | |
| Q2 2020 | +0.1% | +0.7% | -6.8% | |
| Q1 2020 | -5.9% | +8.0% | +4.9% | |
| Q4 2019 | +6.6% | -3.3% | -23.3% | |
| Q3 2019 | -2.6% | -5.0% | -5.9% | |
| Q2 2019 | -2.8% | +2.3% | -21.1% | |
| Q1 2019 | +1.9% | +1.6% | -4.3% | |
| Q4 2018 | +11.5% | +19.0% | +37.0% | |
| Q3 2018 | -9.6% | -15.6% | -21.3% | |
| Q2 2018 | -15.7% | -10.5% | -3.6% | |
| Q1 2018 | -4.3% | +8.0% | +17.6% | |
| Q4 2017 | -9.9% | -13.2% | -22.7% | |
| Q3 2017 | -17.5% | -34.6% | -29.5% | |
| Q2 2017 | +6.6% | +4.3% | +71.7% | |
| Q1 2017 | +6.1% | +4.0% | -0.1% | |
| Q4 2016 | -1.9% | -0.3% | -2.5% | |
| Q3 2016 | +2.9% | +17.3% | +21.4% | |
| Q2 2016 | +3.0% | +2.8% | -18.3% | |
| Q1 2016 | -6.5% | — | — | |
| Q4 2015 | -7.2% | — | — | |
| Q3 2015 | +9.2% | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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