MeiraGTx (MGTX) is moving closer to becoming a commercial-stage company, with two potential first-in-class treatments approaching approval, RBC Capital Markets said Thursday in a report.

For X-linked retinitis pigmentosa, a rare inherited eye disease that causes progressive vision loss, MeiraGTx expects to file its biologics license application with the US Food and Drug Administration in 2026 and launch the treatment in 2027, the report said.

For xerostomia, or chronic dry mouth, the Phase 2 study has finished enrollment and is on track to report 12-month results in Q2 2027, the report said. MeiraGTx expects to file with the FDA in mid-2027, with a possible approval late that year and a US launch in early 2028, RBC said.

The company ended Q2 with $145 million in cash and expects to have funding into H2 2028, the report said.

RBC raised its price target on MeiraGTx stock to $27 from $26 and maintained its outperform speculative risk rating.

Price: 13.03, Change: +0.36, Percent Change: +2.84