Overview

• UK-U.S. gene therapy firm's Q1 revenue fell sharply, missing analyst expectations

• Company posted wider net loss for Q1

• MeiraGTx reacquired bota-vec therapy rights and raised $100 mln in new financing

Outlook

• MeiraGTx plans regulatory submissions for bota-vec in the U.S., EU, UK and Japan

• Company expects pivotal data for AAV2-hAQP1 in Q2 2027, with potential U.S. launch in early 2028

• MeiraGTx expects to initiate Phase 3 study of AAV-GAD for Parkinson’s disease in coming months

Result Drivers

• SERVICE REVENUE DECLINE - Q1 revenue fell due to decreased process performance qualification (PPQ) service activity for J&J, as work was largely completed in early 2025

• LOWER R&D AND ADMIN COSTS - Operating expenses declined slightly due to reduced personnel and clinical trial material costs

• FOREIGN CURRENCY LOSS - Q1 results were impacted by a $2.8 mln foreign currency loss due to U.S. dollar strength

Company press release: ID:nGNX2VMNL9

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 $20.00, about 100.6% above its May 13 closing price of $9.97

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