LEXINGTON, Mass. – Voyager Therapeutics, Inc. (NASDAQ:), a company focused on developing treatments for neurological diseases, announced Thursday the appointment of Nathan Jorgensen, Ph.D., MBA, as Chief Financial Officer, effective July 8, 2024. Jorgensen’s extensive background includes roles in investment banking, healthcare investing, and operational positions in the biotech industry, with a particular focus on neuroscience.
Jorgensen, who previously served as CFO for Vor Biopharma Inc., has been recognized for his strategic financial leadership and his role in raising over $400 million through public and private financings. His prior experience also includes managing healthcare investments for the Qatar Investment Authority and leading healthcare investment efforts at Calamos Investments LLC. Additionally, Jorgensen has a research background in Parkinson’s disease from his time at Columbia University Irving Medical Center.
Alfred W. Sandrock, Jr., M.D., Ph.D., CEO of Voyager, emphasized Jorgensen’s unique blend of operational and strategic expertise, which is expected to be instrumental in advancing the company’s clinical programs and establishing Voyager as a leading multi-modality neurotherapeutics company.
Voyager Therapeutics is engaged in advancing a pipeline of neurogenetic medicines, with multiple programs targeting diseases such as Alzheimer’s, ALS, and Parkinson’s. The company’s TRACER™ AAV capsid discovery platform is a cornerstone of its strategy to overcome delivery challenges in neurology. Voyager has collaborations with several partners, including Alexion (NASDAQ:), AstraZeneca (NASDAQ:) Rare Disease, Novartis (SIX:) Pharma AG, Neurocrine (NASDAQ:) Biosciences, Inc., and Sangamo Therapeutics, Inc.
Jorgensen expressed his enthusiasm for Voyager’s differentiated platform and the potential to address neurological disorders more effectively. His strategic financial skills are expected to support the execution and delivery of Voyager’s scientific advancements.
In other recent news, Voyager Therapeutics has announced substantial advancements in its gene therapy programs. The company received Investigational New Drug (IND) clearance for its anti-tau antibody, VY-TAU01, a potential Alzheimer’s disease treatment. The first healthy volunteer is expected to be dosed in the single-ascending dose portion of the study by mid-2024.
In addition, Voyager Therapeutics has secured a financial runway into 2027 through strategic collaborations with Neurocrine and Novartis. The company’s gene therapy pipeline, including programs for GBA1 and Friedreich’s Ataxia, is progressing with INDs anticipated in 2025.
Meanwhile, Wedbush has adjusted its outlook on Voyager Therapeutics, reducing its price target on the company’s shares from $10.00 to $8.00, while maintaining a Neutral rating. This revision follows a review of the company’s first quarter 2024 performance and recent developments, which were in line with expectations.
InvestingPro Insights
As Voyager Therapeutics welcomes Nathan Jorgensen as its new CFO, investors and stakeholders may be keen to understand the financial health and outlook of the company. With the aim of providing a more comprehensive picture, here are some key metrics and insights from InvestingPro that may be relevant:
The company holds a market capitalization of $471.59 million, reflecting its valuation in the current market. Despite the challenges in the biotech sector, Voyager Therapeutics boasts a solid liquidity position, as indicated by the InvestingPro Tip that the company holds more cash than debt on its balance sheet. This suggests a degree of financial stability and flexibility in managing its capital structure and funding its operations.
From a profitability standpoint, the company’s P/E ratio stands at -134.62, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -154.79. This negative P/E ratio is consistent with the InvestingPro Tips that analysts do not anticipate the company will be profitable this year and that it has not been profitable over the last twelve months. Furthermore, the company’s revenue has seen a significant decline of 37.58% over the last twelve months as of Q1 2024.
Investors should also note that Voyager Therapeutics does not pay a dividend to shareholders, which is common for companies focused on growth and reinvestment in their research and development efforts. For those interested in a deeper dive into Voyager’s financials and future prospects, InvestingPro offers additional tips. There are 6 more InvestingPro Tips available for Voyager Therapeutics, which can be accessed through the dedicated link: https://www.investing.com/pro/VYGR. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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