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MeiraGTx Holdings plc develops clinical-stage genetic medicines for diseases with high unmet need, with recurring updates centered on AAV gene therapy programs, ocular disease, radiation-induced xerostomia, and regulated gene-expression technology. Company news includes clinical disclosures for AAV-hAQP1 and AAV2-hAQP1 in grade 2/3 radiation-induced xerostomia, ophthalmology programs such as AAV-AIPL1 for Leber congenital amaurosis 4, and the acquired bota-vec program for X-linked retinitis pigmentosa.
Updates also cover strategic collaborations and license agreements, in-house manufacturing capabilities for genetic medicines, riboswitch platform development, operating results, financing arrangements, shareholder voting matters, and capital-structure disclosures tied to MGTX ordinary shares.
MeiraGTx Holdings plc (Nasdaq: MGTX) announced a $50 million offering of ordinary shares led by Sanofi and reported Q2 2024 financial results. Key highlights include:
1. Positive data from Phase 1 AQUAx study in radiation-induced xerostomia presented at AAOM 2024.
2. Innovation Passport Designation awarded for AAV8-RK-AIPL1 treatment of LCA4.
3. Enrollment continues in pivotal Phase 2 AQUAx2 clinical trial for xerostomia.
4. Anticipating results from AAV-GAD Parkinson's disease study in Q4 2024.
5. Expecting data from Phase 3 LUMEOS trial of bota-vec for XLRP in 2024.
6. Cash and equivalents of $100 million as of June 30, 2024.
7. Q2 2024 net loss of $48.6 million, or $0.76 per share.
MeiraGTx Holdings plc (Nasdaq: MGTX), a clinical stage genetic medicine company, has announced the pricing of an underwritten offering of 12,500,000 ordinary shares at $4.00 per share. The offering, expected to close on August 13, 2024, aims to raise $50 million in gross proceeds. Sanofi led the financing with a $30 million equity investment, joined by Perceptive Advisors and other institutional healthcare funds. BofA Securities is acting as the sole underwriter. The offering is made pursuant to an effective shelf registration statement filed with the SEC on December 21, 2023.
MeiraGTx reported positive data from the Phase 1 AQUAx study, received a $50 million milestone for the Phase 3 LUMEOS clinical trial, and remains on track with clinical development for various programs. The company highlighted significant progress in gene therapy programs for xerostomia and Parkinson's disease. The riboswitch platform shows promising results in metabolic disease models. Financially, the company had cash and cash equivalents of $120.3 million as of March 31, 2024, and anticipates having sufficient capital until the first quarter of 2026.
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