Voyager Expects VY1706 Dosing in the Next Few Months

The Tip Desk · November 5, 2026 · 3 min read

Cash, cash equivalents and marketable securities were $132.1 million at September 30, 2026, with a runway the company restated as into the second quarter of 2028.

Voyager Therapeutics (VYGR), a biotechnology company dedicated to leveraging genetics to treat neurological diseases, said it now expects to dose the first patient with its lead tau-silencing gene therapy VY1706 in the next few months, pending enrollment, after previously pointing to a start in the fourth quarter of 2026.

The company also said the last patient visit in its VY7523 multiple ascending dose trial is complete, and it continues to expect tau PET imaging efficacy data in the fourth quarter of 2026. Chief Executive Officer Alfred W. Sandrock, Jr. said there is strong momentum behind the two tau-targeted Alzheimer’s disease programs.

Collaboration revenue was $4.0 million in the third quarter of 2026, down from $13.4 million a year earlier. Voyager said the decrease was primarily attributable to lower revenue recognized under the Neurocrine collaboration agreement as activities transition beyond the research phase. Sequentially, collaboration revenue rose to $4.0 million from $3.2 million in the second quarter.

Research and development expenses were $24.4 million in the third quarter, down from $35.9 million a year earlier. The company attributed the year-over-year decline primarily to lower clinical and manufacturing costs and program prioritization. Those expenses increased from $22.0 million in the second quarter. General and administrative expenses were $6.1 million, down from $8.1 million a year earlier, which Voyager attributed primarily to lower employee-related expenses and consulting costs. G&A declined from $7.5 million in the second quarter.

Net loss was $24.7 million, or $0.40 a share, compared with $27.9 million, or $0.47 a share, a year earlier. The second-quarter net loss was $24.5 million. Operating loss was $26.4 million in the three months ended September 30, 2026.

On a non-GAAP basis that excludes reimbursed research and development services, net collaboration revenue was $0.6 million in the third quarter, down from $11.2 million a year earlier. Net research and development expenses on that basis were $21.0 million. Reimbursable R&D services recorded in both collaboration revenue and R&D expenses were $3.4 million in the quarter.

Cash, cash equivalents and marketable securities were $132.1 million as of September 30, 2026, down from $148.8 million as of June 30. The company said that, based on current operating plans, that cash together with anticipated collaboration reimbursements and interest income is expected to be sufficient to fund planned operating expenses and capital expenditures into the second quarter of 2028. The prior-quarter release had used the broader “into 2028” language.

Partner Neurocrine Biosciences said the NBIB-‘223 Friedreich’s ataxia gene therapy program is expected to enter a Phase 1 clinical study in the coming months, with initial patient-level data anticipated in 2027. In the second-quarter release, Neurocrine had said it intended to initiate a trial in the second half of 2026, pending FDA IND clearance.

Voyager presented a pharmacology and safety summary from a 6-month GLP toxicology non-human primate study of VY1706 at ESGCT 2026. Patient screening continues in the United States for the VY1706 trial in adults with early Alzheimer’s disease. Pending enrollment, the company expects initial acute safety data in the first quarter of 2027 and the potential to establish capsid platform validation with initial CSF tau biomarker-based data approximately one year after dosing begins.

Robin Swartz was appointed President and is expected to succeed Dr. Sandrock as part of a planned leadership transition announced in October 2026. Voyager is scheduled to present at the CTAD conference in November, including posters on VY7523 baseline characteristics and the design of the first-in-human VY1706 study.