Voyager Therapeutics (VYGR) Q3 2026 earnings summary

Executive summary

• Genetic medicines pipeline includes wholly owned Alzheimer’s disease candidates VY1706 and VY7523, partnered programs, and TRACER and NeuroShuttle delivery platforms; no product revenue generated to date.

• Q3 net loss narrowed YoY as operating expenses declined, while collaboration revenue fell; cash, cash equivalents and marketable securities totaled $132.1M at September 30, 2026.

Financial highlights

• Q3 collaboration revenue was $4.0M vs. $13.4M YoY; lower Neurocrine collaboration revenue reflected activities moving beyond the research phase.

• Nine-month collaboration revenue was $9.8M vs. $25.0M.

• Q3 net loss was $24.7M vs. $27.9M YoY; basic and diluted loss per share was $0.40 vs. $0.47.

• Nine-month net loss was $77.1M vs. $92.3M; loss per share was $1.27 vs. $1.57.

• Q3 operating expenses were $30.4M vs. $44.0M; nine-month expenses were $92.9M vs. $127.0M.

Outlook and guidance

• Existing cash, cash equivalents and marketable securities, plus expected collaboration cost reimbursements and interest income, are projected to fund planned expenses into Q2 2028.

• Initial VY7523 tau PET imaging efficacy data are expected in Q4 2026; the last patient visit in the AD multiple ascending dose trial is complete.

• VY1706 dosing is expected in the coming months, pending enrollment; initial acute safety data are anticipated in Q1 2027, with initial CSF tau biomarker data potentially available approximately one year after dosing begins.

• Neurocrine expects NBIB-’223 to enter Phase 1 in the coming months, with initial patient-level data anticipated in 2027.