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Voyager Therapeutics, Inc., a biotechnology company, focuses on the human genetics for the cure of neurological diseases. Its product pipeline includes VY1706, a tau silencing gene therapy and VY7523, an anti-tau antibody program for the treatment of alzheimer's disease. The company also provides research program for the treatment of Huntington's disease. In addition, it offers TRACER, an adeno-associated virus (AAV) capsid discovery platform; ALPL-VYGR-NeuroShuttle, to target an undisclosed neurological disease; and develops selective small molecules for the treatment of amyotrophic lateral sclerosis (ALS) and frontotemporal dementia with TDP-43 pathology. The company has collaboration and license agreements with Alexion; AstraZeneca Ireland Limited; Novartis Pharma AG; and Transition Bio, Inc. for the treatment of various other diseases of the central nervous system. Voyager Therapeutics, Inc. was incorporated in 2013 and is headquartered in Lexington, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $40M | $-128M | $-120M | $-135M | -61.1% | -49.5% | 84.2% |
| 2024 | $80M | $-79M | $-65M | $-19M | -21.7% | -68.0% | -149.1% |
| 2023 | $250M | $126M | $132M | $75M | 56.0% | 511.2% | -385.1% |
| 2022 | $41M | $-45M | $-46M | $-15M | -78.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 40.91 | 250.01 | 80 | 40.37 |
| Operating Revenue | - | 40.91 | 250.01 | 80 | 40.37 |
| Operating Expense | - | 91.74 | 127.99 | 163.29 | 172.22 |
| Research And Development | - | 60.76 | 92.17 | 127.37 | 134.67 |
| Selling General And Administration | - | 30.98 | 35.82 | 35.92 | 37.54 |
| Total Expenses | - | 91.74 | 127.99 | 163.29 | 172.22 |
| Operating Income | - | -50.84 | 122.01 | -83.29 | -131.84 |
| Total Operating Income As Reported | - | -50.84 | 122.01 | -83.29 | -131.84 |
| EBITDA | - | -44.65 | 126.46 | -78.56 | -127.78 |
| Normalized EBITDA | - | -44.65 | 126.46 | -78.56 | -127.78 |
| EBIT | - | -50.84 | 122.01 | -83.29 | -131.84 |
| Net Interest Income | - | 1.79 | 11.72 | 18.33 | 10.62 |
| Other Non Operating Income Expenses | - | 2.65 | 0 | 0.62 | 1.65 |
| Other Income Expense | - | 2.65 | 0 | 0.62 | 1.65 |
| Net Non Operating Interest Income Expense | - | 1.79 | 11.72 | 18.33 | 10.62 |
| Pretax Income | - | -46.39 | 133.74 | -64.34 | -119.58 |
| Tax Provision | - | 0.02 | 1.41 | 0.66 | 0.14 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -46.41 | 132.33 | -65 | -119.72 |
| Net Income From Continuing And Discontinued Operation | - | -46.41 | 132.33 | -65 | -119.72 |
| Net Income From Continuing Operation Net Minority Interest | - | -46.41 | 132.33 | -65 | -119.72 |
| Net Income | - | -46.41 | 132.33 | -65 | -119.72 |
| Net Income Common Stockholders | - | -46.41 | 132.33 | -65 | -119.72 |
| Net Income Including Noncontrolling Interests | - | -46.41 | 132.33 | -65 | -119.72 |
| Normalized Income | - | -46.41 | 132.33 | -65 | -119.72 |
| Diluted NI Availto Com Stockholders | - | -46.41 | 132.33 | -65 | -119.72 |
| Basic Average Shares | 37.67 | 38.36 | 43.02 | 57.67 | - |
| Diluted Average Shares | 37.67 | 38.36 | 44.57 | 57.67 | - |
| Reconciled Depreciation | - | 6.19 | 4.44 | 4.73 | 4.06 |
| General And Administrative Expense | - | 30.98 | 35.82 | 35.92 | 37.54 |
| Other Gand A | - | 30.98 | 35.82 | 35.92 | 37.54 |
| Total Other Finance Cost | - | -1.79 | -11.72 | -18.33 | -10.62 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Voyager Therapeutics, Inc.this co. | VYGR | $219M | -1.83 | 1.12 | -61.1% | -1.49 |
| LENZ Therapeutics, Inc. | LENZ | $226M | - | 0.79 | -28.9% | - |
| Fulcrum Therapeutics, Inc. | FULC | $225M | - | 0.64 | -21.5% | - |
| Foghorn Therapeutics Inc. | FHTX | $220M | -2.96 | -2.02 | 68.5% | -2.28 |
| Inhibikase Therapeutics, Inc. | IKT |
| - |
| - |
| - |
| - |
| - |
| - |
| $219M |
| -4.54 |
| 1.27 |
| -27.9% |
| -1.50 |
| Utah Medical Products, Inc. | UTMD | $216M | 19.17 | 1.82 | 9.5% | 9.09 |
| Pro-Dex, Inc. | PDEX | $214M | 23.83 | 5.84 | 24.5% | 16.29 |
| Keros Therapeutics, Inc. | KROS | $213M | 2.45 | 0.70 | 28.7% | -0.83 |
| RxSight, Inc. | RXST | $211M | -5.42 | 0.77 | -14.1% | -5.68 |
| Peer Median | - | -0.25 | 0.78 | -2.3% | -1.17 | |