Voyager Therapeutics Inc (VYGR) Reports Q3 2023 Financial Results
Voyager Therapeutics Inc (NASDAQ:VYGR) reported a net loss of $25.9 million in Q3 2023, compared to a net income of $17.6 million in Q3 2022.
Collaboration revenue for the quarter was $4.6 million, a significant decrease from $41.1 million in the same period last year.
The company's cash, cash equivalents, and marketable debt securities stood at $252.9 million as of September 30, 2023.
VYGR expects its current financial resources to meet its planned operating expenses and capital expenditure requirements into mid-2025.
On November 6, 2023, Voyager Therapeutics Inc (NASDAQ:VYGR), a biotechnology company dedicated to advancing gene therapy and neurology, released its third quarter 2023 financial and operating results. The company reported a net loss of $25.9 million, compared to a net income of $17.6 million in the same period last year. The company's collaboration revenue for the quarter was $4.6 million, a significant decrease from $41.1 million in Q3 2022.
Financial Highlights
The company's total operating expenses for the quarter were $34.1 million, up from $26.6 million in Q3 2022. Research and development expenses were $25.9 million, compared to $19.3 million in the same period last year. General and administrative expenses also increased to $8.3 million from $7.3 million in Q3 2022.
As of September 30, 2023, the company's cash, cash equivalents, and marketable debt securities stood at $252.9 million, up from $118.8 million as of December 31, 2022. The company's total assets were $294.7 million, and total stockholders' equity was $176.2 million.
Company's Outlook
Voyager Therapeutics Inc (NASDAQ:VYGR) is committed to maintaining a strong balance sheet that supports the advancement and growth of its platform and pipeline. The company continues to assess its planned cash needs both during and in future periods. According to the company's financial guidance, its current financial resources, along with amounts expected to be received as reimbursement for development costs under the Neurocrine collaborations and interest income, are expected to be sufficient to meet Voyagers planned operating expenses and capital expenditure requirements into mid-2025.
CEO's Commentary
Voyager continues to advance our prioritized programs towards the clinic: the initiation of GLP toxicology studies for our anti-tau antibody VY-TAU01 keeps us on track for an anticipated IND filing in the first half of 2024. Further, we expect to select a development candidate for our wholly-owned SOD1 ALS gene therapy program by end-of-year, and our broader gene therapy pipeline presents multiple opportunities for INDs in 2025 across our wholly-owned and partnered programs," said Alfred W. Sandrock, Jr., M.D., Ph.D., Chief Executive Officer of Voyager.
About Voyager Therapeutics Inc (NASDAQ:VYGR)
Voyager Therapeutics Inc (NASDAQ:VYGR) is a biotechnology company dedicated to breaking through barriers in gene therapy and neurology. The company's TRACER AAV capsid discovery platform has generated novel capsids with high target delivery and blood-brain barrier penetration at low doses, potentially addressing the narrow therapeutic window associated with conventional gene therapy delivery vectors. This platform is fueling alliances with Alexion, AstraZeneca Rare Disease; Novartis Pharma AG; Neurocrine Biosciences, Inc. and Sangamo Therapeutics, Inc., as well as multiple programs in Voyagers own pipeline.
Explore the complete 8-K earnings release (here) from Voyager Therapeutics Inc for further details.
This article first appeared on GuruFocus.
