Last week, HC Wainwright hosted Voyager Therapeutics, Inc.’s (NASDAQ:VYGR) management during HCW's Annual Global Investment Conference.
The management emphasized recent preclinical murine data from a head-to-head study showing that its alkaline phosphatase (ALPL) receptor-mediated non-viral NeuroShuttle sustained central nervous system (CNS) exposure for more than 3 weeks compared to less than 1 week with transferrin receptor shuttles, highlighting durability and a potential safety advantage.
In July, Voyager Therapeutic expanded its Alzheimer’s disease (AD) franchise with the introduction of a wholly-owned program that modulates the expression of apolipoprotein E (APOE), the strongest genetic risk factor for Alzheimer’s disease.
The program uses a proprietary intravenous (IV)-delivered, blood-brain barrier (BBB)-penetrant TRACER capsid to deliver a bifunctional payload that is designed to decrease expression of APOE in carriers of the variant APOE4, while delivering the variant APOE2.
Analyst Patrick R. Trucchio views these updates as platform-enhancing and partner-catalyzing, and reiterates a Buy rating and a price forecast of $30.
Voyager's Alzheimer's Franchise Encompasses Four Programs
VY7523, a pathologic-specific anti-tau antibody, which is being evaluated in a multiple ascending dose (MAD) clinical trial in AD patients, with initial tau positron emission tomography (PET) data expected in the second half of 2026. HC Wainwright estimates VY7523 is worth $3 per share.
VY1706, an IV-delivered tau silencing gene therapy that has shown up to 73% knockdown of tau mRNA in non-human primates following a single IV dose and is advancing towards IND in 2026. Analyst estimates VY1706 is worth $6 per share.
A vectorized anti-Aβ antibody gene therapy, which demonstrated over 15-fold greater brain-to-plasma ratio after a single IV dose compared to a passively administered antibody over 4 weeks in a murine model.
The APOE gene therapy program is designed to knock down APOE in APOE4 carriers while delivering APOE2 and maintaining total APOE levels. For now, potential value from the program is included in the estimated platform value of $10 per share.
Price Action: VYGR stock is trading lower by 2.27% to $4.09 at last check Monday.
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