MeiraGTx announces Q3 earnings per share of 62 cents, compared to a loss of 55 cents in the previous year.
Q3 Financial Performance: The company reported Q3 revenue of $410,000, a significant decrease from $10.9 million last year, while announcing a strategic collaboration with Eli Lilly focused on gene therapy for LCA4, a severe inherited retinopathy.
Gene Therapy Advancements: The AAV-AIPL1 program has shown promising results, with all 11 treated children gaining vision, highlighting the potential of gene therapy for severe genetic conditions when administered early.
Clinical Program Progress: The company is on track with its Phase 2 study of AAV-hAQP1 for radiation-induced xerostomia, expecting to complete enrollment by year-end and potentially file for a BLA in early 2027.
New Initiatives and Collaborations: The company is preparing to initiate a Phase 3 study for AAV-GAD in Parkinson's disease and has optimized its riboswitch program for leptin deficiency, while also developing a treatment for BBS10-associated retinal dystrophy in collaboration with a philanthropic organization.
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Eli Lilly Enhances Genetic Eye Disease Pipeline Through Collaboration with MeiraGTx on Gene Therapy
MeiraGTx and Eli Lilly Collaboration: MeiraGTx Holdings has entered a strategic partnership with Eli Lilly, granting exclusive rights to its AAV-AIPL1 program for treating Leber congenital amaurosis 4, with an upfront payment of $75 million and potential milestone payments exceeding $400 million.
Clinical Success of AAV-AIPL1: Clinical trials showed that all 11 children treated with AAV-AIPL1 gained vision, with additional improvements in communication, behavior, learning, and social integration.
Riboswitch Technology: The collaboration includes access to MeiraGTx’s riboswitch technology for gene editing in ophthalmology, allowing precise control over therapeutic protein production through oral dosing.
SanegeneBio and Eli Lilly Partnership: SanegeneBio has also partnered with Eli Lilly to advance RNAi candidates for metabolic diseases, with potential milestone payments up to $1.2 billion and a focus on developing therapies that can be administered infrequently.
Eli Lilly Partners with MeiraGTx to Create Gene Therapies for Ocular Disorders
Collaboration Announcement: MeiraGTx (MGTX) shares rose approximately 18% in premarket trading after announcing a strategic collaboration with Eli Lilly (LLY) to develop gene therapies for eye diseases, specifically targeting Leber congenital amaurosis 4 (LCA4).
Exclusive Rights and Financial Terms: Under the agreement, Eli Lilly will receive exclusive global rights to MGTX's AAV-AIPL1 gene therapy program and other gene therapy technologies, with MeiraGTx set to receive $75 million upfront and over $400 million based on milestone achievements, along with tiered royalties on future sales.
Raymond James Begins Coverage of MeiraGTx Holdings with Strong Buy Rating and Sets Price Target at $29
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders, helping them stay informed and make timely decisions in the stock market.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters, enhancing the trading experience for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, indicating a robust network for sharing market intelligence.
Market Winning Tools: Benzinga Pro is designed to equip traders with the tools and information necessary to succeed in the markets daily.
Insider Sale: CFO & COO of $MGTX Sells 24,000 Shares
Insider Trading Activity: Richard Giroux, CFO & COO of $MGTX, sold 24,000 shares for approximately $204,480, marking a 2.7% reduction in his holdings, with no insider purchases reported in the last six months.
Analyst Ratings and Institutional Activity: Recent reports show that 59 institutional investors increased their stakes in $MGTX, while analysts have issued two buy ratings and set a median price target of $24.0 for the stock.
Coinbase To Rally Around 17%? Here Are 10 Top Analyst Forecasts For Wednesday
Analyst Rating Changes: Various Wall Street analysts have adjusted their price targets for several companies, with notable changes including HC Wainwright lowering Annexon, Inc.'s target from $20 to $14 while maintaining a Buy rating, and Rosenblatt increasing Coinbase Global, Inc.'s target from $260 to $300, also keeping a Buy rating.
Stock Performance Insights: Other companies such as V.F. Corporation and Camtek Ltd saw their price targets cut, while Wingstop Inc. and Danaos Corporation had their targets raised, reflecting mixed sentiments in the market regarding these stocks.
Chardan Capital Maintains Buy on MeiraGTx Hldgs, Lowers Price Target to $35
Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.
Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and insights.
Eli Lilly Enhances Genetic Eye Disease Pipeline Through Collaboration with MeiraGTx on Gene Therapy
MeiraGTx and Eli Lilly Collaboration: MeiraGTx Holdings has entered a strategic partnership with Eli Lilly, granting exclusive rights to its AAV-AIPL1 program for treating Leber congenital amaurosis 4, with an upfront payment of $75 million and potential milestone payments exceeding $400 million.
Clinical Success of AAV-AIPL1: Clinical trials showed that all 11 children treated with AAV-AIPL1 gained vision, with additional improvements in communication, behavior, learning, and social integration.
Riboswitch Technology: The collaboration includes access to MeiraGTx’s riboswitch technology for gene editing in ophthalmology, allowing precise control over therapeutic protein production through oral dosing.
SanegeneBio and Eli Lilly Partnership: SanegeneBio has also partnered with Eli Lilly to advance RNAi candidates for metabolic diseases, with potential milestone payments up to $1.2 billion and a focus on developing therapies that can be administered infrequently.
Eli Lilly Partners with MeiraGTx to Create Gene Therapies for Ocular Disorders
Collaboration Announcement: MeiraGTx (MGTX) shares rose approximately 18% in premarket trading after announcing a strategic collaboration with Eli Lilly (LLY) to develop gene therapies for eye diseases, specifically targeting Leber congenital amaurosis 4 (LCA4).
Exclusive Rights and Financial Terms: Under the agreement, Eli Lilly will receive exclusive global rights to MGTX's AAV-AIPL1 gene therapy program and other gene therapy technologies, with MeiraGTx set to receive $75 million upfront and over $400 million based on milestone achievements, along with tiered royalties on future sales.
Raymond James Begins Coverage of MeiraGTx Holdings with Strong Buy Rating and Sets Price Target at $29
Real-time Intelligence: Benzinga Pro offers the fastest news alerts for traders, helping them stay informed and make timely decisions in the stock market.
Exclusive Content: The platform provides exclusive stories and insights generated by Benzinga reporters, enhancing the trading experience for its users.
Community Engagement: Over 10,000 serious traders are part of the Benzinga Pro community, indicating a robust network for sharing market intelligence.
Market Winning Tools: Benzinga Pro is designed to equip traders with the tools and information necessary to succeed in the markets daily.
Insider Sale: CFO & COO of $MGTX Sells 24,000 Shares
Insider Trading Activity: Richard Giroux, CFO & COO of $MGTX, sold 24,000 shares for approximately $204,480, marking a 2.7% reduction in his holdings, with no insider purchases reported in the last six months.
Analyst Ratings and Institutional Activity: Recent reports show that 59 institutional investors increased their stakes in $MGTX, while analysts have issued two buy ratings and set a median price target of $24.0 for the stock.
Coinbase To Rally Around 17%? Here Are 10 Top Analyst Forecasts For Wednesday
Analyst Rating Changes: Various Wall Street analysts have adjusted their price targets for several companies, with notable changes including HC Wainwright lowering Annexon, Inc.'s target from $20 to $14 while maintaining a Buy rating, and Rosenblatt increasing Coinbase Global, Inc.'s target from $260 to $300, also keeping a Buy rating.
Stock Performance Insights: Other companies such as V.F. Corporation and Camtek Ltd saw their price targets cut, while Wingstop Inc. and Danaos Corporation had their targets raised, reflecting mixed sentiments in the market regarding these stocks.
Chardan Capital Maintains Buy on MeiraGTx Hldgs, Lowers Price Target to $35
Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.
Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and insights.
