Voyager Therapeutics' (VYGR) shares dropped nearly 13% in recent Tuesday trading after the company said it no longer expects to file an investigational new drug application for VY9323 in mid-2025.

The biotechnology company reported an obstacle in its superoxide dismutase 1 amyotrophic lateral sclerosism, or SOD1 ALS, gene therapy program, as three-month non-human primate data revealed the need to assess alternate payloads for VY9323, while maintaining the use of the novel capsid component.

This change extends the company's cash runway until mid-2027, not accounting for possible milestone payments from partnerships, the company said, adding that it will provide an update on the SOD1 ALS program timeline as it continues evaluating alternative payloads.

This decision does not impact the company's other gene therapy programs, with IND filings still expected in 2025 from Neurocrine Biosciences (NBIX) for the GBA1 Parkinson's and GBA1-mediated disease program, as well as the Friedreich's ataxia program, while Voyager also anticipates filing an IND for VY1706 (tau silencing) gene therapy program in 2026, the company said.

Price: 4.64, Change: -0.69, Percent Change: -12.88