Core Insights - Voyager Therapeutics anticipates 2026 to be a transformative year, focusing on tau-targeting assets for Alzheimer's disease, novel I.V.-delivered neuro gene therapies, and the advancement of its nonviral delivery platform, Voyager NeuroShuttle [2][4] Financial Position - As of December 31, 2025, Voyager reported a cash position of $201.7 million, which is expected to sustain operations into 2028 [7][8] - Collaboration revenue for Q4 2025 was $15.3 million, up from $6.3 million in Q4 2024, while total collaboration revenue for the year was $40.4 million, down from $80.0 million in 2024 [12][20] Research and Development Highlights - The company expects to complete a GLP toxicology study for VY1706 in Q1 2026, with an IND application submission planned for Q2 2026 and first-in-human dosing anticipated in H2 2026 [5][6] - VY7523's clinical trial for Alzheimer's disease completed enrollment in Q4 2025, with tau PET imaging data expected in H2 2026 [6][12] Partnerships and Collaborations - Neurocrine plans to initiate a clinical trial with NBIB-'223 for Friedreich's ataxia in H2 2026, pending FDA IND clearance [6] - Voyager's partnership with Novartis for Huntington's disease and spinal muscular atrophy continues to advance [6] Pipeline Updates - Voyager has paused development of its apolipoprotein E gene therapy program to prioritize more advanced programs, despite demonstrating promising results in murine studies [5][6] - The Voyager NeuroShuttle platform has shown sustained brain exposure in a proof-of-concept study, indicating potential for high brain penetration with genetic medicines [5][6]