MeiraGTx HoldingsNASDAQ: MGTX

MeiraGTx stock rises 15% as gene therapy candidate betters sham treatment in Parkinson's disease patients.

MeiraGTx (MGTX) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

MeiraGTx Holdings plc's GAD gene therapy for Parkinson's Disease shows promising phase 1/2 results, with significant improvements in UPDRS Part 3 and PDQ-39 scores. The company plans to discuss phase 3 study designs with regulatory agencies in Q4 2024, potentially initiating late-stage studies in 2025. MeiraGTx secured $50 million in funding, including a $30 million equity investment from Sanofi, enhancing its financial stability for future developments.

Results indicate a potent and effective locally delivered AAV-BDNF gene therapy for the treatment of obesity caused by MC4R deficiency Results indicate a potent and effective locally delivered AAV-BDNF gene therapy for the treatment of obesity caused by MC4R deficiency

MeiraGTx Holdings PLC (MGTX) came out with a quarterly loss of $0.76 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to loss of $0.53 per share a year ago.

- Positive data from the Phase 1 AQUAx study in radiation-induced xerostomia (RIX) presented at the American Academy of Oral Medicine 2024 annual meeting (AAOM) showed meaningful improvements in patient-reported outcomes and saliva production with AAV2-hAQP1 treatment

LONDON and NEW YORK, Aug. 12, 2024 (GLOBE NEWSWIRE) -- MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage genetic medicine company, today announced the pricing of an underwritten offering of 12,500,000 of its ordinary shares at an offering price of $4.00 per share. Gross proceeds to MeiraGTx from the offering are expected to be $50 million, before deducting underwriting discounts and commissions and offering expenses. All of the ordinary shares in the offering are being sold by MeiraGTx.

Bota-vec sale to JNJ/Janssen is complete – cash & future milestones from the deal should carry MeiraGTx through the next catalysts. The partnership with Sanofi strengthens the balance sheet and helps validate technology platforms. MGTX is no longer just an ocular GTx (gene therapy) company - its GTx for radiation-induced xerostomia has a high potential for success.

MeiraGTx (MGTX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.