VYGR · Voyager Therapeutics, Inc.

Voyager Therapeutics announced its first quarter 2026 financial results alongside significant pipeline advancements, emphasizing progress in Alzheimer's disease programs during what CEO Alfred W. Sandrock describes as the 'Year of Tau.' The company completed IND-enabling GLP toxicology for VY1706, its tau silencing gene therapy, positioning it for FDA IND submission in Q2 2026 and first-in-human dosing in AD patients in H2 2026. Similarly, VY7523, an anti-tau antibody, advances with expected tau PET imaging efficacy data from its ongoing multiple ascending dose trial in H2 2026. In partnership updates, Neurocrine completed GLP toxicology for NBIB-‘223 in Friedreich’s ataxia, securing FDA orphan drug designation and planning a clinical trial in H2 2026 pending IND clearance. These milestones are complemented by multiple presentations at ASGCT 2026, including a late-breaker on VY1706 data, and prior AD/PD™ posters. Financially, collaboration revenue declined to $2.6 million from $6.5 million in Q1 2025, attributed to maturing Neurocrine and Novartis agreements moving beyond research phases. This was offset by R&D expense reductions to $24.6 million from $31.5 million and G&A to $8.3 million from $9.6 million, driven by cost-cutting initiatives, though partially countered by VY1706 ramp-up costs. Net loss improved to $27.9 million ($0.47 per share) from $31.0 million ($0.53 per share). Balance sheet remains robust with $171.7 million in cash, cash equivalents, and marketable securities as of March 31, 2026, providing runway into 2028 alongside expected collaboration reimbursements and interest income. Upcoming catalysts include mid-2026 third-party tau data and H2 milestones, supporting pipeline execution without near-term funding needs.