Voyager Therapeutics Q4 2023 Earnings Call Transcript

Quartr
Provided by Quartr
February 28, 2024

There are 9 speakers on the call.

Operator

Good day. Thank you for standing by. Welcome to the Q4 2023 Voyager Therapeutics Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer Please be advised that today's conference is being recorded.

Operator

I would now like to hand the conference over to your first speaker today, Peter Franchiou, Chief Financial Officer. Please go ahead.

Speaker 1

Thank you and good afternoon. Joining me on the call today is Doctor. Al Sandrock, our CEO and Doctor. Todd Carter, our Chief Scientific Officer. We issued our Q4 year end 2023 financial results press release this afternoon.

Speaker 1

The press release and 10 ks are available on our website. In a moment, I will turn the call over to Al. Before I do this, I want to remind everyone that during this call, Voyager representatives may make forward looking statements as noted in Slide 2 of today's deck. These forward looking statements include future expectations, plans and prospects. All forward looking statements are inherently uncertain and are subject to risks and uncertainties that may cause actual results to differ materially from those indicated by these forward looking statements.

Speaker 1

You are encouraged to review and understand the various material risks and uncertainties facing the company as described in the company's most recent annual report, Form 10 ks filed with the SEC this afternoon. All SEC filings are available on the company's website. Now it is my pleasure to turn the call over to Al.

Speaker 2

Thank you, Pete, and good afternoon, everyone. Please turn to Slide 3. I'd like to start by defining Voyager's position as an emerging leader in neurogenetic medicine. First, our pipeline. We anticipate having at least 4 wholly owned and partnered CNS programs in the clinic by the end of 2025 with the potential to generate clinical data in 20252026.

Speaker 2

Our most advanced programs are anti tau antibody for Alzheimer's disease and our SOD1 gene therapy program for amyotrophic lateral sclerosis or ALS. I will talk more about both programs in a few minutes. 2nd, our platform. Voyager is working to solve the delivery challenges inherent to CNS gene therapies with our tracer capsid discovery platform. We have demonstrated high transduction in multiple brain areas at relatively low doses with detargeting of the liver and dorsal root ganglia across multiple species.

Speaker 2

We have also shown blood brain barrier penetrance across multiple animal species and we have identified a receptor that is expressed in humans. 3rd partnerships. In January of 2024, we received $100,000,000 from Novartis in a combination of upfront payment and equity investment to develop gene therapies for Huntington's disease and spinal muscular atrophy. This brings our total of partnered programs to 13 with the potential to generate $8,200,000,000 in longer term milestone payments. Whereas this is a bio bucks number, it is not factored into our cash runway guidance.

Speaker 2

I will note that some of it is becoming real. Earlier this week, we triggered a $5,000,000 milestone payment upon selection of a lead development candidate for our Neurocrine partnered Friedreich's ataxia program. All of this has given us a strong balance sheet, which we expect to provide runway into 2027, removing our financial overhang and enabling us to potentially generate value creating clinical data in 20252026. Finally, potential. We have already demonstrated our strength as a leader in CNS capsid technology.

Speaker 2

We now aim to expand from gene therapy and antibodies into other modalities of neurogenetic medicine potentially broadening our impact. We continue to explore the potential to leverage Receptor X to shuttle non viral genetic medicines across the blood brain barrier and look forward to sharing data on this in the future. On Slide 4, I want to take a moment to acknowledge just how much Borger has achieved recently. Following the Novartis collaboration, we closed a $100,000,000 public offering. We closed 2023 with approximately $231,000,000 in cash.

Speaker 2

When you add the $100,000,000 from Novartis and the $100,000,000 from the offering that brings us to a pro form a cash number of approximately $431,000,000 as of December 31, 2023. We are also progressing our GLP toxicology work with our anti tau antibody VY tau-one for Alzheimer's disease and remain on track for an IND filing in the first half of this year. We achieved 2 development candidate selections with gene therapy programs, 1 our wholly owned SOD1 ALS gene therapy and one with our Neurocrine partnered Friedreich's ataxia program. We also generated data with our wholly owned tau silencing gene therapy program showing robust reductions in human tau mRNA and protein in a mouse model, which Todd will share more on later. All of these milestones are helping us build a robust pipeline as you can see on Slide 5.

Speaker 2

I do want to note that the wholly owned programs at the top of this slide denoted in orange are the only programs we fund. The rest of our pipeline is funded by our partners. While I won't go into detail on all of these today, I do want to dig into some of our wholly owned programs, particularly our anti tau antibody, our tau knockdown gene therapy and our SOD1 ALS gene therapy. Moving to Slide 6. When I look at the Alzheimer's space, I'm encouraged by the progress, particularly the approval of 2 anti amyloid antibodies.

Speaker 2

I view tau as the next exciting target in this field. Why? We've long known that the spread of pathological tau correlates to the progression of Alzheimer's disease. In fact, Alzheimer's disease progression is characterized by Brock's staging, which is based on the spread of pathological tau. Our anti tau antibody vy tau01 is differentiated from other approaches based on the epitope targets, which is located in the C terminal rather than the N terminal or mid domain and which has been shown to inhibit the spread of pathological tau by more than 70% preclinical study.

Speaker 2

We are currently progressing through IND enabling studies and remain on track to file an IND in the first half of this year. We plan to initiate a single ascending dose study this year in healthy volunteers and we plan to initiate a multiple ascending dose study next year in patients with early stages of Alzheimer's disease. We hope to generate proof of concept data for slowing the spread of pathological tau via PET imaging in 2026. I'll now turn it over to Todd to talk about another approach we are developing to target tau.

Speaker 3

Thank you, Al. Please turn to Slide 7. In addition to our anti tau antibody approach, we are also working on a tau side of the gene therapy. This approach leverages the TRACER derived BDD penetrant AAV Casu to deliver vectorized tau targeted siRNA. As shown, the single intravenous administration of our tauSilentan gene therapy and humanized tau mouse model caused robust reductions in human tau in RNA and protein.

Speaker 3

This was observed across multiple brain regions. And in some regions, we have seen up to a 90% reduction in cal mRNA. This report will be presented at the 2024 AD patient conference. Given these promising data, Voyager has prioritized this program and advanced it into late research, and we anticipate an IND filing in 2026. I'll just echo what Al said here.

Speaker 3

We see tau as an incredibly important target for Alzheimer's disease. So much so that we are pursuing multiple modalities, both in antibody and gene therapy. We are encouraged by the early data from both of these programs and look forward to continuing to share in scientific conferences. In addition, I want to share a little data from our SOD1 ALS gene therapy program. We announced the selection of a development candidate for this program in December of 2023, And some of the data behind this decision are shown on Slide 8.

Speaker 3

As you can see, a single IV dose of our development candidate in non human primates resulted in 73% 82% reductions in SOD1 mRNA in cervical and lumbar spinal cord motor neurons, respectively. These are quite significant reductions in some of the key cell types affected by the disease. Additionally, we think an added benefit is that the effect is not limited to the spinal cord. When you look at approaches of injecting a medicine intrathecally, you often see steep gradients of effects dropping off once you move away from the injection site. But because our IV approach leverages the vascular system to deliver across the blood brain barrier, we've seen not only strong knockdown along the spinal cord, but also lowering of the brainstem and motor cortex, which we believe will be important to addressing ALS.

Speaker 3

This program continues to progress toward an IND filing in mid-twenty 25. Now, I'll turn the call back to Al.

Speaker 2

Thank you, Todd. Turning to Slide 9, you can see Voyager has started the year off strong and we continue to execute on our milestones. We began the year with our 2nd Novartis collaboration, this time to advance gene therapies for Huntington's disease and spinal muscular atrophy. We then raised $100,000,000 through a public offering in January of 2024 providing runway into 2027. Just this week, we announced the selection of a development candidate for our Neurocrine partnered Friedreich's ataxia gene therapy program, which triggered a $5,000,000 milestone.

Speaker 2

I want to close by acknowledging all of the hard work of the Voyager team, which has allowed us to progress as much as we have. Looking forward, Voyager is well capitalized to advance the least 4 wholly owned and partnered CNS programs into the clinic this year and next. And with our financial overhang removed, we look forward to potentially generating value creating clinical data in 20252026. With that, we're happy to take any questions you may have. Operator?

Operator

Yes, thank you. As mentioned, at this time, we'll conduct a question and answer session. Our first question comes from the line of Jack Allen with Baird. Your line is now open.

Speaker 4

Great. Thanks for taking my question and congratulations to the team on all the progress made throughout the quarter. My question is fairly high level, but it relates to all three of the assets that you anticipate moving forward towards clinical studies here, be it the ALS program, the Friedreich's ataxia program externally and then the internal Alzheimer's program that you're prioritizing. How should we think about vector selection across all three of these assets? Do they feature the same vector or are they each using novel vectors?

Speaker 4

And as you move towards clinic, I guess to what degree can you translate preclinical results across these programs and clinical results from an early clinical data to the later pipeline assets that are going to move forward as well?

Speaker 2

Hi, Jack. This is Al. I'll start and then I'll turn it over to Todd for his comments. So with respect to the capsid, we haven't disclosed which capsid. We will be every one of these programs will use one of our novel capsids that's discovered through the TRACER platform.

Speaker 2

They will be delivered IV. And we anticipate we will use doses well below E14 BGs per kg because that's where so those are the doses that have shown some safety issues with other AAV programs. So and we select these capsids based on a capsid profile that we create for every single disease and every single target based on the fact that these diseases reside in different parts of the nervous system. And also, we want to be sure that we target the cells that are necessary while de targeting the cells that may cause toxicities. That leads us to these capsid profiles.

Speaker 2

And luckily, we have an array of capsids we can choose from and our partners can choose from. Todd?

Speaker 3

I don't have a lot to add to your comments, Al. You hit that as a major point. As Al mentioned, we identify a profile for the capsids that are specifically oriented toward each disease that we're going after. Of course, it's a different payload in each case. You're talking about the serotype with a capsid that is effectively the envelope that delivers that payload.

Speaker 3

And we really try to hit each of those components that Al mentioned to give us the best opportunity for success and to reduce any potential risks of tolerability issues.

Speaker 2

I think Jack had a question about predictability, I think of preclinical models. And we don't we chose targets, Jack, that we think are validated based on human genetics or human studies of other types, including controlled clinical trials. And then what we aim to do is to do pharmacology in animals. And for us, doing clear pharmacological studies in non human primates, where you don't have the availability of the so called models of disease. We think that may be just as informative or perhaps more informative to help us choose the right capsid because the size of the animals are obviously different from mice and the delivery characteristics may be more similar to humans.

Speaker 2

So I hope that helps with that part of the question. Thank you. Operator?

Operator

Yes, excuse me. The next question comes from the line of David Hoang with Citi. Your line is now open.

Speaker 4

Hey, this is Sam Beck on for David. Congrats on the progress and thanks for taking the question. Just if you could provide any color on how we should think about collaboration revenues for 2024. Is there any significant potential near term milestones for partners that can lead to any lumpiness in quarterly revenues?

Speaker 2

Pete, do you want to take that?

Speaker 1

Sure, Al. So we don't provide specific guidance with regards to collaboration revenue, especially new collaborations per se. We have been very fortunate in that as part of Tate now spend and what came out earlier this week was further validation that the collaborations that we already have in place, specifically the collaboration around the FA program with Neurocrine is advancing and moving forward. And so that continues to validate the science in the organization and also brings to the company additional cash flow revenues that we had not previously kind of projected as part of our overall cash runway. That's an additional $5,000,000 as we discussed in today's conference call.

Speaker 1

I do think, as you look at our financials for the close of 2023, we do have pretty significant revenues this year. And that was largely driven through originally the first deal that we did with Neurocrine at the beginning of 2023, the subsequent option to license agreement with Novartis earlier in the year. And then of course, the final collaboration with the 2nd collaboration with Novartis around the SMA program as well as the HD program. So 2023 was a banner year for us. I think from a revenue generation and cash flow perspective, Obviously, moving forward, we're going to be very open to business development discussions and always open to conversations.

Speaker 1

And there could be further revenue generation associated with our Capsug platform as you think about 2024 and definitely milestones for our existing 13 partner programs. So I think it's important to just be mindful that we don't provide guidance here, but we do believe that there could be further revenue generation as we move forward in 2024.

Speaker 4

Great. Thank you.

Operator

Thank you. One moment for our next question. This question comes from the line of Jay Olson with

Speaker 1

Oppenheimer. Your line is now open.

Speaker 5

Hey guys, congrats on all the progress and thank you for providing the update. We have a question about the tau-one program. Since there's some near term readouts for competing tau targeted therapies, including Phase 2 readouts from an anti tau mid domain antibody from Roche and UCB and an OGA inhibitor from Lilly. Can you just talk about the potential read across to your own tau-one program and maybe more broadly to the tau targeting strategy? And then I have a follow on if I could

Speaker 2

please. That's a great question. I mean, yes, we are aware that there's multiple antibodies against various epitopes on the tau molecule and there could be some read through. I would say that we believe that epitope matters a lot, certainly did in the case of the amyloid antibodies. And because all the ones that work are N terminal, where N terminal turned out.

Speaker 2

The C terminal and mid terminal anti amyloid antibodies were not as effective. In the case of tau, we chose the C terminal based on animal experiments where we inject human pathological tau into the animal and we look at this blockade of spread to other brain regions. And we chose BC terminal because it was the most robust antibody in blocking that spread. We actually had a number of antibodies against other epitopes and highly specific for pathological tau. So we had about a half a dozen of those.

Speaker 2

We had to choose one of them and we decided that we would use this spreading assay, bio assay in animals to make our decision on which epitope. So it's a long answer to say that I think a positive result just underscores I think that the tau is a great target to go after. But a negative result maybe because it was the wrong epitope. Now if it's a C terminal antibody then we have to take notice there. But again, even within the same region, some antibodies block spread better than others.

Speaker 2

So even that we can't take too seriously either. Todd, do you want to add anything?

Speaker 3

I think you captured it and the point at the end there that Al made was we can identify and through our studies we did antibodies that targeted epitopes very close to one another on cross the tau protein and some of those antibodies would work quite well in our screening assay and others would not and it really depended upon a particular epitope. And I'll just reiterate that in our assays, the internal antibodies that have failed in the clinic to date failed in that assay as well. So we're taking something forward that was quite robust and targets pathological tau specifically.

Speaker 5

Great. Thank you so much. And if I could squeeze in a follow-up question about recent discussions at the FDA. Can you just comment on their plans to more broadly use biomarkers for the accelerated approval of gene therapies?

Speaker 2

Yes. No, that was we read that with great interest. And I applaud the use of surrogate markers, if you will. These are diseases with such terrible consequences for patients. And if we can use a surrogate biomarker to get accelerated approval and then confirm in a confirmatory trial, I think the patients get access to the drugs earlier.

Speaker 2

And I think it's a valid approach. And I personally think that for the right disease and the right surrogate marker, this is exactly the right approach for patients.

Speaker 5

Great. Thank you. And maybe just looking at regulators outside the U. S, any takeaways from the positive CHMP opinion for tofersen?

Speaker 2

Well, yes, that's another great example. I mean, as we all know tofersen did not meet the primary endpoint, which was a clinical outcome measure, the pre specified outcome measure of ALS functional rating scale. But it did have a strong effect, clear cut effect on neurofilaments. The U. S.

Speaker 2

Approved based on that as a surrogate biomarker reasonably likely to predict clinical efficacy. And we now just saw last week that Europe essentially followed suit and allowed for person to be approved. I assume again specifically based on the use of neurofilament as a surrogate biomarker. We'll have to wait for the regulatory, the EPAR to know exactly what their thinking was. But it's important to note that the only outcome measure that was well, the main outcome measure that was positive was the NFL, with a lot of strong support from the other clinical outcome measures, but the one that was statistically significant was NFL.

Speaker 2

So Europe may be thinking along the same lines, I guess is the point.

Speaker 5

Great. Super helpful. Thank you so much for taking the questions and congrats again on all the progress.

Speaker 2

Thank you.

Operator

Thank you. Our next question comes from the line of Rife Forsyth with Guggenheim Securities. Your line is now open.

Speaker 3

Hey, this is Ry Forseth from Debjit's team at Guggenheim. Two questions from us. One, could you highlight the features of your VY tau-one Phase 1b clinical plan that you would point to as competitive advantages relative to historical or ongoing tau clinical efforts? And our second question is, what lessons from leucanumab and other abeta targeting therapies would you point to as most informative for the design of a tau targeting clinical program and specifically your BY tau-one program?

Speaker 2

Yes. So the BY Tau Phase 2 program that we hope to get proof of concept based on Tau PET imaging. Our current plan and we still have more work to do to actually get input from investigators and FDA obviously. But the current plan is to enroll early stage Alzheimer's patients, probably at bROCK stage 2, perhaps 3, but early stage by bROCK staging as well. And look for the spread of tau to other regions in the brain, other cortical regions that we know that the tau will spread to.

Speaker 2

The great thing about Alzheimer's disease is that it's a very stereotypical spreading pattern. So we can look at regions of interest in the brain and see whether or not we're reducing the spread. And in some ways we want to recapitulate the data we saw quite robustly in the animals that we just talked about earlier where we use human pathological talent look at the spread. So whether that's a competitive advantage or whether it's I mean, we chose the program because we like the fact that we can get proof of concept on the spread of tau very efficiently. We think we can do it with on the order of 25 or so patients per group and a 1 year duration and then proof of concept, proof of principle on the spread.

Speaker 2

So that's our current plan. As I said, it's still kind of we're still a couple of years away. So that may change, but that's our current plan. In terms of lessons from lucanumab, well, in a way I mentioned it earlier that epitope matters a lot, that early stage patients are probably where you need to go and that you need to have a robust effect. I mean, the other distinguishing feature of aducanumab and lekanumab and onanumab is that you had a very robust effect on the amyloid PET imaging in 1 year.

Speaker 2

And so we hope to see a robust clear cut effect on Tau PET imaging. And if we don't see that, we're not going to move forward. We need to see the fact that we've got not only target engagement, but a clear pharmacodynamic effect on the tile spreading hypothesis, if you will. We don't see that. We're not going to move forward with that program.

Speaker 2

But as we talked about earlier, we still have the tile silencing program behind that, which takes a different approach to a very important target.

Speaker 3

Very helpful. Thank you.

Operator

Thank you. One moment for our next question. This question comes from the line of Phil Nadeau with TD Cowen. Your line is now open.

Speaker 6

Good afternoon. Thanks for taking our questions. A couple from us. First on the SOD1 program, in the past you've guided towards starting GLP-one talks for the program in the first half of twenty twenty four. We see that you're guiding towards an IND next year.

Speaker 6

Is the GLP-one talks on schedule, any changes to the timelines ahead of the IND filing?

Speaker 2

Actually, no, there's been no change in our in the timing. This is exactly the timeline that we had planned from the very beginning, Phil.

Speaker 6

Perfect. And then second on the VYTALO-one, a follow-up to the prior question on the Phase 1a and 1b, appreciating that proof of concept will be generated by the PET scans. What PD markers will be able to look at from the Phase 1a and 1b in advance of getting that PET scan data to make sure you're on the right track? Will it simply be pharmacokinetics? Will you have good data on target engagement or any other PD biomarkers that you'll be able to look at to make sure or to ensure that you're on the right track towards producing the pet proof of concept data?

Speaker 2

Yes. That's a good question, Phil. So on the Phase 1a, that's going to be a single ascending dose study in normal healthy volunteers. So we're not going to get any pharmacodynamic or target engagement data. We will be getting data on safety and PK and try to get to the point where we identify the optimal doses to move into the Phase 1b trial based on safety and PK.

Speaker 2

And then in the Phase 1b or I may have called it Phase 2 trial, we will be there are a whole pathway of tau related biomarkers we could look at. The primary one that we're going to pay attention to is tau PET imaging, because as I said earlier, we will take advantage of the stereotypical spread of tau and look at regions of interest in the brain to test the spreading hypothesis, if you will. But there are a number of additional biomarkers we will be looking at in addition to CSF biomarkers for tau. We will also we're lucky to have some blood biomarkers of covalently modified forms of tau that we can look at such as p tau, various phosphorylated forms of tau. And people have seen efficacy on those certainly in the anti amyloid trials, but also in some of the tau trials as well.

Speaker 2

For example, BIV80, the tau ASO that Biogen is pursuing. So I think that we'll look at all of them, but our decision making, Phil, is going to be primarily based on the Tau PET imaging for the reasons I stated earlier.

Speaker 6

That's very helpful. Thanks again for taking our questions.

Operator

This question comes from the line of Joon Lee with Truist Securities. Your line is now open.

Speaker 7

Hi, good afternoon. This is Mehdi on for June and congrats on the quarter and thanks for taking our questions. So could you please elaborate on the choice of artificial micro RNAs over vectorized siRNA or shRNA for tau salinity zinc candidate of yours? And I have a follow-up.

Speaker 2

Todd, do you want to take that? Sure.

Speaker 3

Of course, our payloads are the vectorized siRNA or technically a vectorized form of the prior artificial micro RNAs. We have a lot of experience. We've been doing this for many, many years at Voyager on how to vectorize these things. We identify the siRNA, it sits within a particular cassette. When expressed, it will get processed as it is processed in the nucleus and exported into the cytoplasm.

Speaker 3

We think vectorizing the siRNAs we can with a single dose deliver a constituent of a level of expression and these are a catalytic type of approach where the siRNA continues to be used by the processing mechanisms of the cell to knock down the mRNA. We know we can get quite specific in targeting of the mRNAs involved and our whole process of selecting these signals and calls careful attention to things like the processing, the lack of off targets and that sort of a thing. So we're comfortable and actually very enthusiastic about the siRNA approach we take. Does that answer your question?

Speaker 7

Thank you. So a quick addition to this question. Is it different from shRNA backbone or possibly from RNA backbone, so the type of promoters that use?

Speaker 3

I heard shRNA. What was your other Artificial microRNA. It is effectively an artificial microRNA, but it is entirely artificial and that those that we choose do not exist in the endogenous expression, but it is an artificial microRNA. It is different from an shRNA, which those hairpins are involved in other types of processing that result in reductions in RNA. So it is distinct.

Speaker 7

Thank you. And lastly, there have been multiple N terminal targeting antibodies for tau and several for the microtubule binding domain. And it seems that you are the only one with the C terminal targeting. Can you please provide some insight on how selection of C terminal had been like less prevalent?

Speaker 2

Valet? Well, thank you. Yes. So it turns out that there's there are 2 other companies that are also targeting the C terminal. We're aware that we're aware of there could be more, but Merck for example is in Phase 1 with a C terminal monoclonal antibody and Lumbeck is also in Phase 1 with a C terminal targeting antibody.

Speaker 2

And you're right that there are a couple of at least 2 other, maybe 3 other companies targeting the microtubule binding region. Again, I think many of us, we select these antibodies that are specific for pathological forms of tau and we had a number against various regions as well. How do you pick which one of those? They're all selective for pathological forms of tau. And so some have chosen for example cellular uptake assays or cellular toxicity assays.

Speaker 2

We happen to choose the in vivo spreading assay where you inject human pathological tau into the brain of mice and we look at the spread. Who knows which one of these assays is the right one to use? I mean, it's hard to know until we see the human data to be able to say, that's the one that was most predictive. But we like the fact that it's a biological that it's a spreading assay in vivo that starts with human pathological tau. And so that's why we chose the C terminal directed antibody.

Speaker 2

But we're not the only ones

Speaker 1

that chose the C terminal. Go

Speaker 2

ahead Todd.

Speaker 3

Just a couple of other points. You mentioned the in terminal antibodies and those have I think, almost without fail, they have not succeeded in the clinic. And in and I mentioned this earlier, in late this in vivo model that Al described, those antibodies do not work in that model. And so our antibodies are different from those that to date have failed in clinic. We've also chosen the epitope and when we say C terminal, these other antibodies that target the C terminal region, they target distinct epitopes in the C terminal region.

Speaker 3

So even different antibodies in what we might call the C terminal region are likely to be distinct from one another as well.

Speaker 2

So, so far when you look at the N terminal antibodies, it seems that the animal has negative predictive value. What we don't know is whether it also has positive predictive value, but that's the point I think you were trying to make on the N terminal.

Speaker 7

Thank you. Very helpful. I appreciate it.

Operator

Okay. Thank you. One moment for our next question. This last question comes from the line of Sumant Kulkarni with Canaccord. Your line is now open.

Speaker 8

Good afternoon. Thanks for taking my question. It's actually a follow-up to a question that I asked on the last quarterly update and it relates to GLP talks on the anti tau antibody. You'd mentioned that there were some nuances to running those studies and your slides today say you still expect to complete these studies in the Q1. So could you share any specifics on what more needs to be done so you can hit your timeline for an IND submission in the first half of this year?

Speaker 2

Well, the nuances are that it's an antibody that binds specifically to human pathological tau. And the typical stocks so typical tox studies are done in wild type animals. And to look at on target toxicity, there is no animal wild type animal that where that can be used to evaluate on target toxicity. So the nuances that you have to do studies and animals that are expressing human pathological tau, otherwise there's no target. And the problem is that those animals are sick because they carry human pathological tau.

Speaker 2

So it's very hard to do long lasting studies in animals that are sick. But we've been but we have look, we have a lot of confidence in the toxicology package we chose. You'll recall that we did have a pre IND meeting last year. I think it was almost a year ago. I think it was March of last year where we had an interaction with FDA.

Speaker 2

A lot of our work is actually all of our work is based on that interaction. And look, we're on track to achieve our goal of filing the IND in the first half of this year, So sometime in the next couple of months or so. And we hope to start the first in human study shortly thereafter.

Speaker 7

Thank you.

Operator

Thank you. So at this time, I'm showing no further questions and would now like to turn the call back to Doctor. Sandrock for closing remarks.

Speaker 2

Well, I just wanted to say thank you to everyone for joining us today and please feel free to follow-up directly with any questions. Thank you.

Operator

Yes. Thank you. And thank you for your participation in today's conference. This does conclude the program and you may now disconnect.

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Earnings Conference Call
Voyager Therapeutics Q4 2023
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