Voyager Therapeutics, Inc. (VYGR) stock soared today following the announcement of its agreement with Pfizer. VYGR stock price saw a surge of 49.60% to reach $3.70 a share as of this writing. The stock was declining in the previous trading session and went low by 3.52% at closing. Let’s deep dive to explore more of it.
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Voyager Therapeutics, Inc is a clinical-stage company that is intended to develop therapeutics in order to treat patients that suffer neurological diseases. Its lead product candidate is VY-AADC which is used for the treatment of Parkinson’s disease. The company was founded in 2013 and its headquarters are located in Cambridge, Massachusetts.
VYGR stock today announced the License Option Agreement with Pfizer under which the latter can exercise options to license novel capsids generated from Voyager’s RNA-driven TRACERTM technology for the development, manufacturing, and commercialization of gene therapies for the treatment of certain neurologic and cardiovascular diseases.
According to the agreement, Pfizer will be able to evaluate novel capsids intended for the central nervous system from Voyager’s TRACER platform. Pfizer may exercise options to license capsids for exclusive use in its development of AV gene therapies incorporating two undisclosed transgenes. VYGR stock will retain global rights for the use of all licensed capsids in other transgenes. It will also retain global rights for its all-other application in TRACER technology.
VYGR stock will get a $30 million upfront payment and $20 million exercise fees for two options which Pfizer will exercise within 12 months of signing. Moreover, Voyager is anticipating earning $580 million in total development, regulatory and commercial milestone related to the licensed product that Pfizer is incorporating with its two undisclosed transgenes.
Financial View of VYGR stock:
In the second quarter of 2021, VYGR stock reported $1.4 million in revenue as compared to $28.7 million collaboration revenue in the same tenure of the previous year. The stock suffered a net loss of $30.1 million as compared to an $8.7 million net loss in the second quarter of 2020. The stock spent $19.5 million in research and development expenses and $10.4 million in general and administrative expenses in the recently reported quarter. By the end of the second quarter, Voyager stock had $143.0 million in cash and cash equivalents.
VYGR stock is hot among investors after the announcement of its deal with Pfizer Inc. This agreement will prove to be effective for Voyager in the long run. Thus, investors having long-term prospects should keep an eye on this stock.