Voyager Therapeutics (VYGR) Misses Q2 EPS by 12c, Miss on Revenues

Voyager Therapeutics (NASDAQ: VYGR) reported Q2 EPS of ($0.73), $0.12 worse than the analyst estimate of ($0.61). Revenue for the quarter came in at $1.2 million versus the consensus estimate of $3.42 million.

Second Quarter 2017 Financial Results and 2017 Guidance

• Voyager reported a GAAP net loss of $18.9 million, or $0.73 per share, for the second quarter ended June 30, 2017, compared to a GAAP net loss of $9.3 million, or $0.37 per share, for the same period in 2016.
• Collaboration revenues of $1.2 million for the second quarter of 2017 compared to $3.7 million for the second quarter of 2016. Collaboration revenues reflect recognition of payments for research and development services provided to Voyager for various programs under the Sanofi-Genzyme collaboration agreement. Collaboration revenues, which are subject to variability based on quarterly assessments of expected or anticipated efforts under the collaboration, decreased during the second quarter of 2017 from the prior year period primarily due to ongoing reviews of programs under the collaboration.
• Research and development (R&D) expenses of $15.3 million for the second quarter ended June 30, 2017 compared to $10.5 million for the same period in 2016. The increase in R&D expenses was primarily due to expenditures associated with the development of Voyager’s pipeline, and increased personnel and facility costs to support the advancement of the pipeline programs.
• General and administrative (G&A) expenses of $4.5 million for the second quarter ended June 30, 2017 compared to $2.9 million for the same period in 2016. The increase in G&A expenses primarily related to personnel costs to support Voyager’s growth and facility costs.
• Total cash, cash equivalents, and marketable debt securities as of June 30, 2017 were $141.3 million. Based on the company’s current operating plan, Voyager continues to expect to end 2017 with total cash, cash equivalents, and marketable debt securities of approximately $90 million to $100 million and continues to project that its existing cash, cash equivalents, and marketable debt securities will be sufficient to fund operating expenses and capital expenditure requirements into 2019.

For earnings history and earnings-related data on Voyager Therapeutics (VYGR) click here.

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