Voyager Therapeutics Announces Proposed Public Offering
January 04 2024 - 4:14PM
Voyager Therapeutics, Inc. (Nasdaq: VYGR), a biotechnology
company dedicated to advancing neurogenetic medicines, today
announced that it has commenced an underwritten public offering of
$100 million of shares of its common stock (or pre-funded warrants
to purchase common stock in lieu thereof). All of the securities in
the proposed offering are to be sold by the Company. In addition,
the Company expects to grant the underwriters of the offering a
30-day option to purchase up to an additional $15 million of shares
of its common stock. The proposed offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed or as to the actual size or
terms of the offering.
Citigroup and Guggenheim Securities are acting as joint
book-running managers for the offering. Oppenheimer & Co. is
acting as book-running manager for the offering.
The Company intends to use the net proceeds from the proposed
offering, together with its existing cash and cash equivalents and
marketable securities, the $20.0 million the Company received from
Novartis Pharma AG (Novartis) in January 2024 as consideration for
the purchase of shares of its common stock and the additional $80.0
million upfront payment the Company anticipates receiving from
Novartis in connection with the Company’s entry into a strategic
collaboration and a stock purchase agreement with Novartis in
December 2023, to advance the Company’s anti-tau antibody program
for the treatment of Alzheimer’s disease (AD) and its SOD1
silencing gene therapy program for the treatment of amyotrophic
lateral sclerosis (ALS) into clinical development, to advance its
tau silencing gene therapy program for the treatment of AD and its
anti-amyloid gene therapy program for the treatment of AD in
preclinical development, to support its other preclinical
development programs, and for working capital and other general
corporate purposes.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-268240) that was
previously filed with and declared effective by the U.S. Securities
and Exchange Commission (SEC). This offering will be made only by
means of a prospectus supplement and the accompanying prospectus
that form a part of the registration statement. A preliminary
prospectus supplement relating to and describing the terms of the
public offering is expected to be filed with the SEC and, if and
when filed, will be available for free by visiting the SEC’s
website at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to this
offering may also be obtained, when available, by contacting
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146,
Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at
(212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com, and Oppenheimer
& Co. Inc., Attention: Syndicate Prospectus Department, 85
Broad Street, 26th Floor, New York, NY 10004, by telephone at (212)
667-8055, or by email at EquityProspectus@opco.com. The final terms
of the proposed offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Voyager TherapeuticsVoyager
Therapeutics is a biotechnology company dedicated to leveraging the
power of human genetics to modify the course of – and ultimately
cure – neurological diseases. The Company’s pipeline includes both
wholly owned and collaborative programs for Alzheimer’s disease,
amyotrophic lateral sclerosis, Parkinson’s disease, and multiple
other diseases of the central nervous system. Many of the Company’s
programs are derived from its TRACER™ AAV capsid discovery
platform, which the Company has used to generate novel capsids and
identify associated receptors.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements for the purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995 and other federal
securities laws. The use of words such as “anticipate,” “expect,”
“plan,” “believe,” “potential,” “proposed,” “will,” “would,”
“intend,” or “may,” and other similar expressions are intended to
identify forward-looking statements.
For example, any statements in this press release about future
expectations, plans, and prospects for Voyager, including Voyager’s
expectations and plans regarding the proposed public offering,
including the size, structure and completion of the proposed
offering, the grant to the underwriters of an option to purchase
additional shares of common stock, the receipt of any payments from
Novartis Pharma AG and the Company’s anticipated use of proceeds of
the proposed public offering, are forward-looking. All
forward-looking statements are based on estimates and assumptions
by Voyager’s management that, although Voyager believes such
forward-looking statements to be reasonable, are inherently
uncertain. All forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those that Voyager expected. Such risks and uncertainties
include, among others, uncertainties related to market conditions,
the final terms of the proposed public offering, the satisfaction
of customary closing conditions related to the proposed public
offering, and other factors discussed in the “Risk Factors” section
contained in the preliminary prospectus supplement related to the
proposed public offering and the Company’s quarterly and annual
reports filed with the SEC.
All information in the press release is as of the date of this
press release, and any forward-looking statement speaks only as of
the date on which it was made. Voyager undertakes no obligation to
publicly update or revise this information or any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law.
Voyager Therapeutics® is a registered trademark, and TRACER™ is
a trademark, of Voyager Therapeutics, Inc.
ContactsInvestorsInvestors@vygr.comAndrew
Funderburkafunderburk@kendallir.com
MediaTrista Morrisontmorrison@vygr.com Peg
Rusconiprusconi@vergescientific.com
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