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What does Voyager Therapeutics do and what are its main business segments?

- **Pipeline Momentum**: Tau-silencing gene therapy (VY1706) IND in 2026, anti-tau antibody (VY7523) entering MAD study. 
- **Financial Strength**: $332M cash, $8.2B potential milestones, and no reliance on dilutive funding. 
- **Innovative Delivery**: ALPL shuttle targeting CNS diseases, with data expected later this year. 
- **Strategic Partnerships**: Neurocrine collaborations advancing Friedreich’s ataxia and GBA programs, with INDs filed in 2025.

**【CEO Summary Section】**
- **Pipeline Progress**: Four wholly owned programs (including two tau-silencing gene therapies) and 13 partnered programs. VY1706 tau-silencing gene therapy advancing to IND in 2026, with NHP studies showing 50%-73% tau mRNA knockdown. VY7523 anti-tau antibody entering MAD study in Alzheimer's patients, targeting tau spreading. 
- **Partnerships & Cash Flow**: $332M cash as of Q4 2024, with $8.2B potential future milestones. Partnerships (e.g., Novartis for SMA gene therapy) provide non-dilutive revenue. 
- **Gene Therapy Differentiation**: Emphasizes IV-delivered AAV capsids for CNS diseases, citing Zolgensma's success. ALPL-based non-viral shuttle aims to improve BBB penetration for proteins, antibodies, and ASOs. 
- **External Milestones**: Watching tau antibody data from Merck (mid-2025) and Biogen (Q3 2026), as well as ALPL shuttle preclinical data later this year.

**【CFO Financial Commentary】**
- **Financial Health**: $332M cash on hand, with $2.9B developmental milestones as upside to mid-2027 cash runway. 
- **Partnership Revenue**: $8.2B potential future milestones from collaborations, including Friedreich’s ataxia and GBA programs with Neurocrine.

**【Q&A Key Points】**
- **ALPL Shuttle**: Being tested for CNS delivery of proteins, antibodies, and ASOs. Early data expected later this year. Potential advantages over TfR-based shuttles include reduced hematologic risks. 
- **Tau Antibody MAD Study**: Designed to test high doses for tau PET signal reduction. Focus on low-tau and APOE4-negative subgroups, informed by UCB's bepranemab data. 
- **Gene Therapy Capsid Safety**: SOD1 program failure attributed to payload toxicity, not capsid. Same capsid used for VY1706, supported by preclinical safety data across other payloads. 
- **Business Development**: Open to new partnerships, prioritizing assets with near-term clinical catalysts or non-dilutive funding opportunities.

Voyager Therapeutics (VYGR)-11 Mar 25-2024 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-12 Nov 24-2024 Q3 Earnings call transcript

Voyager Therapeutics (VYGR)-6 Aug 24-2024 Q2 Earnings call transcript

Voyager Therapeutics (VYGR)-13 May 24-2024 Q1 Earnings call transcript

Voyager Therapeutics (VYGR)-28 Feb 24-2023 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-6 Nov 23-2023 Q3 Earnings call transcript

Voyager Therapeutics (VYGR)-9 May 23-2023 Q1 Earnings call transcript

Voyager Therapeutics (VYGR)-7 Mar 23-2022 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-8 Nov 22-2022 Q3 Earnings call transcript

Voyager Therapeutics (VYGR)-6 Aug 22-2022 Q2 Earnings call transcript

Voyager Therapeutics (VYGR)-26 Feb 21-2020 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-3 Mar 20-2019 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-9 Nov 19-2019 Q3 Earnings call transcript

Voyager Therapeutics (VYGR)-11 Aug 19-2019 Q2 Earnings call transcript

Voyager Therapeutics (VYGR)-26 Feb 19-2018 Q4 Earnings call transcript

Voyager Therapeutics (VYGR)-8 Nov 18-2018 Q3 Earnings call transcript

Voyager Therapeutics (VYGR)-7 Aug 18-2018 Q2 Earnings call transcript

Voyager Therapeutics (VYGR)-14 Mar 18-2017 Q4 Earnings call transcript

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