Voyager Therapeutics, Inc. Q2 FY2023 earnings call

• Recognized progress in neurotherapeutics and gene therapy, including FDA approvals in these areas. • Voyager uses TRACER capsid discovery platform for novel capsids with CNS tropism; recent data at ASGCT 2023 showed >50% transduction in multiple brain areas in marmosets. • Pipeline includes four CNS programs towards IND filings, with three wholly owned Alzheimer's disease assets; new early research initiative on vectorized anti-Aβ antibody. • Partnerships generated over $200M in non-dilutive revenue in 2023, with 11 partner programs after license agreement with Sangamo on prion disease. • Potential to expand into other neurogenetic medicine approaches, with progress in receptor program for shuttling non-viral genetic medicines across BBB.

No detailed financial performance breakdown by product segments provided in the transcript.

• Expect to identify lead candidate for wholly owned SOD1 ALS gene therapy program by end of 2023. • Anticipate multiple IND filings across wholly owned and collaborative/licensed programs in 2024-2025, translating to milestone payment opportunities. • Continue engaging in discussions with potential partners regarding collaboration and licensing arrangements.

• Forward-looking statements are inherently uncertain and subject to risks and uncertainties that may cause actual results to differ materially from forward-looking statements. • Need to review company's most recent annual report on Form 10-K and quarterly report on Form 10-Q for detailed material risks.

Q: On the Alzheimer's program, any info on antibody choice for vectorization and mitigating ARIA risk?

A: Al Sandrock said they haven't disclosed the antibody yet, but are experimenting with several; risks of ARIA are being considered, including waiting until risk passes and using small molecules to regulate gene expression. No plan to combine vectorized RNAi tau with anti-Aβ in same vector.

Q: Elaboration on Sangamo deal and competitive position for Parkinson's?

A: Al Sandrock said Sangamo came to them for capsid for prion disease, and they trust Sangamo with the capsid and IP.

Q: R&D expense trajectory into 2024?

A: Pete Pfreundschuh said R&D burn up ~50% in first six months of 2023, overall burn tracking 15% higher than last year; Al Sandrock added they exercise financial discipline with early stage programs.

Q: Pre-IND activities for tau antibody IND in first half of 2024?

A: Al Sandrock said they had pre-IND feedback, timelines based on that; main things are initiating GLP tox studies and gearing up manufacturing.

Q: Details on identifying lead candidate for SOD1 ALS gene therapy?

A: Todd Carter said they're combining optimal trans gene with optimal capsid, doing experiments in non-human primates; process involves screening siRNAs for specificity and off-target effects.

Q: Type of partnerships interested in?

A: Al Sandrock said they do various deals, from capsid licensing with Pfizer/Novartis (minimal post-licensing work) to research collaborations with Neurocrine (reimbursed for expenses, working hand in hand).

Q: Details on new anti-Aβ program targeting monomer, oligomer, fibrillar?

A: Al Sandrock said they target aggregated forms like soluble oligomers and fibrillar amyloid, citing aducanumab and lecanemab as examples; Todd Carter discussed vectorized antibody avoiding ARIA by constitutive secretion and targeting plaques before blood vessels.

Q: Thoughts on Biogen's acquisition of Reata and differentiating factors for FA gene therapy?

A: Al Sandrock said Reata's acquisition shows regulatory precedents and accepted outcome measures; Pete Pfreundschuh mentioned Neurocrine's capable hands with the FA program and milestones in partnerships not factored into cash runway yet.

Q: Prioritizing spend on Alzheimer's vs other programs?

A: Al Sandrock clarified no vectorized anti-tau antibody program; they prioritize programs for efficient proof of biology, like antibody to tau with rapid path to derisking using tau PET imaging with 25 patients per dose group in a year study.