Voyager Therapeutics, Inc.

Voyager Therapeutics, Inc. is a U.S.-based biotechnology company focused on developing gene therapy and other genetic medicine approaches for neurological diseases. Its programs are built around the TRACER AAV capsid discovery platform and a pipeline that includes candidates for Alzheimer’s disease, Friedreich’s ataxia, Parkinson’s disease, and other central nervous system disorders.

−316,5 %

−296,5 %

−49,5 %

7.64

7.64

— Voyager Therapeutics, Inc.
%
Gene therapy programs45% Clinical and preclinical programs using AAV-based genetic medicines for neurological diseases.
Collaboration revenue40% Revenue from strategic research, development, and licensing collaborations with pharma partners.
Platform technologies10% TRACER and related discovery tools used to identify capsids and enable brain delivery.
Other research services5% Additional research and service arrangements tied to partnered programs and milestones.

Voyager’s direct customers are primarily pharmaceutical and biotechnology partners that license programs, fund...

  • Pharmaceutical collaboration partnersprimary

    Partners such as Neurocrine, Novartis, Alexion, and others that pay for research, milestones, or licenses.

  • Biotechnology licensees and co-development partnersprimary

    Companies that use Voyager’s capsid discovery and delivery technologies in partnered programs.

  • Clinical trial ecosystemsecondary

    CROs, investigators, and clinical sites that execute preclinical and clinical studies for Voyager and collaborators.

  • Future end patientsemerging

    Patients with Alzheimer’s, Friedreich’s ataxia, Parkinson’s, and other CNS disorders targeted by the pipeline.

Voyager is headquartered in the United States and conducts most of its research, development, and corporate activity...

  • •Headquartered and primarily operated in the United States
  • •Clinical studies are run at multiple U.S. sites
  • •Some clinical activity is expected in Canada
  • •Trademark and IP protection extends to other countries
  • •Partnering and licensing can create international exposure

Voyager’s strategy is to advance genetic medicines for neurological disease by combining internal discovery with...

01
Advance neurological disease pipelinemedium-term

Clinical progress is needed to validate the platform and create future partnering or product opportunities.

02
Improve CNS delivery with TRACERmedium-term

Better brain penetration can differentiate Voyager’s genetic medicines from competing approaches.

03
Expand strategic collaborationsshort-term

Partnerships provide funding, validation, and access to external development capabilities.

04
Protect and monetize IPlong-term

Patent and trademark protection supports exclusivity and licensing value in a competitive field.

Voyager faces the typical risks of a development-stage biotech company: clinical failure, regulatory delay, and...

high

Clinical development failure

Product candidates may not generate sufficient safety or efficacy data for approval.

Scope
Pipeline programs in CNS and rare disease
Materiality
high
high

Dependence on third-party service providers

Voyager relies on CROs, investigators, and vendors for trial execution and data quality.

Scope
Preclinical and clinical programs
Materiality
high
high

Manufacturing complexity

AAV gene therapies and other biological modalities are difficult to produce consistently.

Scope
Gene therapy and vector supply
Materiality
high
high

Capital dependence

The company expects to fund operations through collaborations and external financing.

Scope
Operating runway and program funding
Materiality
high
medium

Competitive pressure

Larger or better-funded peers may reach approval first or develop superior therapies.

Scope
CNS gene therapy and delivery platforms
Materiality
medium
ASC 606 collaboration revenue
Can shift revenue between periods and create volatility
Clinical trial accruals
Affects R&D expense and liabilities
Stock-based compensation
Raises operating expense without cash outflow
Sublease income and marketable securities
Can partially offset operating losses

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: 29.4.2026