Voyager Therapeutics, Inc.

Voyager Therapeutics, Inc. reported a net loss of $119.7 million for fiscal year 2025, driven by significant operating expenses of $172.2 million that substantially exceeded collaboration revenue of $40.4 million. The company generated a comprehensive loss of $119.3 million, with basic and diluted net loss per share of $2.00. Operating cash flow was negative $132.5 million, though this was partially offset by $125.4 million in net cash provided by investing activities, primarily from proceeds from sales and maturities of marketable securities. The company ended the period with $100.5 million in cash, cash equivalents, and restricted cash, and total assets of $252.3 million. Stockholders' equity stood at $196.1 million, with an accumulated deficit of $445.9 million. The financial results reflect the company's continued investment in research and development, which totaled $134.7 million for the year.

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