Voyager Therapeutics, Inc. (NASDAQ:VYGR) Q2 2019 Earnings Conference Call - Final Transcript

Aug 09, 2019 • 08:00 am ET


Voyager Therapeutics, Inc. (NASDAQ:VYGR) Q2 2019 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Voyager Therapeutics Second Quarter 2019 Financial Results and Corporate Highlights Conference Call. [Operator Instructions].

At this time, I'd like to turn the call over to Allison Dorval, Voyager's Chief Financial Officer. Please, proceed.

Allison Dorval

Thank you. Good morning, and welcome to the call. Earlier today, we issued a press release, which outlines the financial results and corporate highlights for the second quarter of 2019. The release is available at Before we begin, just a reminder that the forward-looking statements included in this call represent the company's views as of today, August 9, 2019. Voyager disclaims any obligation to update these statements to reflect future events or circumstances, except as required by law. Please refer to today's press release as well as Voyager's filings with the SEC for information concerning risk factors that could cause actual results to differ materially from those expressed or implied by such statements.

With that, I'll pass the call over to Andre.

Andre Turenne

Thank you, Allison, and good morning, everyone. Welcome to our Q2 earnings and corporate highlights call. Today, I'll discuss selected elements of our portfolio evolution, including the recent restructuring of our gene therapy relationship with Sanofi Genzyme. Next, Omar Khwaja, our Chief Medical Officer and Head of R&D, will comment on our existing programs and new discovery efforts. Allison will wrap up the call with a discussion of our second quarter results. Mat Ottmer, our Chief Operating Officer has also joined us for the Q&A after our prepared remarks. We entered 2019 with the focused strategic vision of becoming a leading fully integrated biopharmaceutical company focused on AAV gene therapy for severe neurological disease. And in the second quarter, we continued to take steps in achieving that goal. As we've outlined previously, under our plan, we will pursue new program opportunities with 3 distinct approaches.

The first approach is to advance novel discovery programs with a partner, up to an earlier point, typically the IND stage, when the partner takes on full development and future commercial responsibility. Our partners provide an upfront payment and fund the research activities through cost reimbursement and where typically eligible for near-term development milestones, later-stage milestones and royalty payments, all of which can be funneled back into our operations. Both programs with AbbVie as well as the discovery programs with Neurocrine follow this approach. We're currently eligible for up to more than $300 million in preclinical milestone payments over the coming years across these programs. Under the second approach, we advance existing development programs and candidates with the support of partners' funding and resources, but retain co-development and co-commercialization rights. Our Parkinson's and Friedreich's ataxia programs with Neurocrine align with this approach.

Working with selected partners in this way allows us to do more while maintaining an option for meaningful commercial participation. Finally in the third approach, we advance promising program on our own and retain full upside value. In June, we announced the key development in that part of our portfolio with the