Why did Voyager's net profit surge in Q4 2024 despite high operating expenses?

Voyager Therapeutics Inc's net profit surged in Q4 2024 despite high operating expenses due to Increased INGREZZA Sales and Cost Management Efforts.

1. Increased INGREZZA Sales: Net Product Sales of INGREZZA (valbenazine) for the third quarter of 2024 were $613 million, representing a 26% year-over-year growth. The 2024 net product sales guidance for INGREZZA was raised to $2.30 - $2.32 billion. The significant increase in sales of INGREZZA contributed to the overall net profit.
2. Cost Management Efforts: Despite the increased operating expenses, Voyager Therapeutics Inc managed to control costs effectively. For instance, the company's selling, general, and administrative (SG&A) expenses were $234.3 million for the third quarter of 2024. The company's focus on cost management allowed it to maintain profitability despite the high operating expenses.

In conclusion, Voyager's net profit surge in Q4 2024 can be attributed to the increased sales of INGREZZA and effective cost management efforts that outweighed the impact of high operating expenses.