Voyager posts a $0.40 per-share loss in Q3 as net loss narrows
Key Facts
Voyager Therapeutics reported basic and diluted loss per share of $0.40 in the third quarter of 2026, compared with a loss of $0.47 in the same period of 2025, according to financial results announced by the company. Net loss was $24.694 million, versus $27.892 million a year earlier. The results show an improvement in quarterly loss alongside lower operating expenses, while revenue figures show a sharp decline in collaboration revenue. The company's stock closed at $1.87 on November 4, 2026.
Research and development expenses fell to $24.4 million in the third quarter, from $35.9 million in the corresponding period of 2025. The company said the decline was tied to lower clinical trial and manufacturing costs, as well as program prioritization. General and administrative expenses also fell to $6.1 million from $8.1 million a year earlier. Voyager attributed the decline to lower employee-related expenses and consulting costs. The contraction in these two expense items means the company spent less on research and administration than in the comparable quarter, alongside a lower net loss.
Cash, cash equivalents and marketable securities totaled $132.1 million on September 30, 2026. Voyager said these resources, together with expected collaboration reimbursements and interest income, are expected to cover planned operating and capital expenses through the second quarter of 2028. This estimate is based on the company's current operating plans and links its funding runway to expected reimbursements and income alongside existing liquidity. This period provides a timeframe for funding programs the company continues to develop, including upcoming clinical trials. Near-term milestones are focused on Alzheimer's disease programs, according to the company's announced schedule.
The company continues to screen patients in the United States for the VY1706 trial in adults with early-stage Alzheimer's disease. Subject to enrollment completion, Voyager expects to begin dosing in the coming months and to report preliminary acute safety data in the first quarter of 2027. This timeline places the start of dosing ahead of the preliminary data milestone set by the company. Voyager also plans to present research posters on its VY7523 and VY1706 programs at the Clinical Trials on Alzheimer's Disease conference, scheduled for November 16-19, 2026. The posters will present baseline characteristics of patients enrolled in the VY7523 multiple-ascending-dose study and the first-in-human study design for VY1706.