Overview
MeiraGTx Q3 revenue misses analyst expectations, declining significantly from last year
Company enters strategic collaboration with Eli Lilly, including $75 mln upfront payment
Net loss widens to $50.5 mln in Q3, driven by increased R&D expenses
Outlook
Company anticipates Phase 2 data for AAV-hAQP1 in early 2027
MeiraGTx plans Phase 3 study for AAV-GAD in Parkinson's disease soon
Company expects riboswitch program to enter clinic for leptin deficiency
Result Drivers
R&D - The increase of $6.3 million was primarily due to an increase in manufacturing costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $410,000 | $6.96 mln (5 Analysts) |
Q3 EPS | -$0.62 | ||
Q3 Net Income | -$50.51 mln | ||
Q3 Income from Operations | -$46.05 mln | ||
Q3 Operating Expenses | $46.46 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for MeiraGTx Holdings PLC is $29.00, about 70.1% above its November 12 closing price of $8.66
Press Release: ID:nGNX3Mp2rM
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)