Voyager Therapeutics
Develops CNS gene therapies and antibodies around TRACER delivery and tau biology.
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Profile
Develops clinical-stage neurogenetic medicines for neurological diseases, led by tau programs for Alzheimer's disease and a TRACER brain-delivery platform. The portfolio has no approved commercial medicines, mixes wholly owned and partnered CNS programs, and depends on clinical data, regulatory progress, collaboration funding, and continued access to capital.
Builds disease-modifying neurotherapeutics around CNS delivery and human genetics. The current portfolio centers on VY7523, an anti-tau antibody, and VY1706, a tau-silencing gene therapy, with APOE gene therapy and earlier research extending the Alzheimer's focus.
TRACER supplies the delivery platform: RNA-based screening for AAV capsids designed to cross the blood-brain barrier and reach CNS tissue. Partnered programs with Neurocrine, Novartis, Alexion, and Transition Bio add rare-neurology and CNS targets such as NBIB-223, GBA1, and TDP-43.
Operations are concentrated in the United States from Lexington, Massachusetts, with no approved commercial medicines. The business depends on clinical readouts, IND and trial execution, partner choices, reimbursement of collaboration work, and financing before product revenue can begin.
Company facts
Key statistics
Year to date −12.2% · Average volume (30d) 493.4K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.48 | −$0.40 | +17.3% | $4.5M | $3.2M | −30.0% | +4.47% |
| May 7, 2026Q1 FY26 | −$0.54 | −$0.47 | +13.0% | $8.8M | $2.6M | −70.5% | +2.27% |
| Mar 9, 2026Q4 FY25 | −$0.54 | −$0.46 | +14.8% | $10.5M | $15.3M | +46.2% | +21.65% |
| Nov 10, 2025Q3 FY25 | −$0.53 | −$0.47 | +11.3% | $10.5M | $13.4M | +27.4% | 0.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.5M | $5.2M | $13.4M | $15.3M | $2.6M | $3.2M | |
| Gross profit | −$25.1M | −$26.1M | −$22.5M | −$18.2M | $1.7M | $3.2M | |
| Operating income | −$34.7M | −$36.6M | −$30.6M | −$29.9M | −$30.3M | −$26.4M | |
| Net income | −$31.0M | −$33.4M | −$27.9M | −$27.4M | −$27.9M | −$24.5M | |
| Diluted EPS | −$0.53 | −$0.57 | −$0.47 | −$0.47 | −$0.47 | −$0.40 | |
| Gross margin | -387.0% | -502.5% | -168.4% | -118.8% | 64.1% | 100.0% | |
| Operating margin | -536.0% | -704.3% | -228.9% | -195.2% | -1,167.4% | -833.9% |
Fiscal years (4-quarter sums)FY21 $37.4M · FY22 $40.9M · FY23 $250.0M · FY24 $80.0M · FY25 $40.4M
Balance sheet, Jun 30, 2026Cash & short-term investments $116.3M · Total debt $32.6M · Total assets $197.8M · Shareholders' equity $154.4M
Dividends
No dividends on record.
Ownership
Shares outstanding 60.42M · Float 50.40M · 83.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.57M | 9.22% | 13F | May 13, 2026 |
| Armistice Capital, LLC | 3.50M | 5.79% | 13F | May 15, 2026 |
| Millennium Management LLC | 3.43M | 5.67% | 13F | May 15, 2026 |
| Integrated Core Strategies (US) LLC | 3.34M | 6.00% | 13G | Jan 26, 2026 |
| Vestal Point Capital, LP | 3.00M | 4.97% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 2, 2026 | Alfred Sandrock | director, officer: President and CEO | −11,511 | $3.87 |
| Feb 24, 2026 | Todd Alfred Carter | officer: Chief Scientific Officer | −4,174 | $3.76 |
| Feb 24, 2026 | Nathan D. Jorgensen | officer: Chief Financial Officer | −4,668 | $3.77 |
| Feb 24, 2026 | Alfred Sandrock | director, officer: President and CEO | −14,197 | $3.79 |
| Feb 24, 2026 | Robin Swartz | officer: COO & CBO | −6,458 | $3.77 |
Peers
- Denali Therapeutics
BBB-delivery and tau programs in neurodegeneration
- Ionis Pharmaceuticals
Tau antisense and neurology RNA medicines
- AC Immune
Tau-focused Alzheimer's immunotherapy and diagnostics peer
- Biogen
Commercial-scale Alzheimer's and tau-ASO rival
- Lexeo Therapeutics
APOE Alzheimer's and genetic-medicine pipeline overlap
- uniQure
CNS AAV gene-silencing competitor
- Passage Bio
Focused CNS AAV programs for neurodegeneration
- REGENXBIO
NAV AAV platform and rare-CNS gene-therapy peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Voyager Therapeutics | $3.53 | −0.28% | $213.9M | — | — | 6.2 | −39.1% |
| Denali Therapeutics | $24.00 | +0.04% | $3.81B | — | — | 1,056.9 | — |
| Ionis Pharmaceuticals | $61.05 | +0.02% | $10.15B | — | — | 11.6 | −40.7% |
| AC Immune | $2.65 | −0.56% | $269.7M | — | — | 12.5 | +498.6% |
| Biogen | $218.19 | −0.14% | $32.28B | 38.7 | 16.5 | 3.2 | +3.4% |
| Lexeo Therapeutics | $4.77 | −1.95% | $381.6M | — | — | — | — |
| uniQure | $49.46 | +1.55% | $3.38B | — | — | 181.0 | +11.0% |
| Passage Bio | $4.52 | −0.88% | $14.5M | — | — | — | — |
| REGENXBIO | $9.65 | −0.21% | $499.4M | — | — | 2.9 | +405.7% |
| Median | 38.7 | 16.5 | 12.0 | +11.0% |