BUZZ-MeiraGTx climbs as Sanofi makes $30 million investment

-0.51%

-1.07%

+2.29%

-1.69%

Dow Jones Industrial Average DJI	48458.05	-0.51%
S&P 500 index SPX	6827.41	-1.07%
MEIRAGTX HOLDINGS PLC MGTX	8.92	+2.29%
NASDAQ IXIC	23195.17	-1.69%

** MeiraGTx Holdings PLC's shares MGTX.O rise 24% to $4.6 premarket

** Drug developer says Sanofi SASY.PA has made a $30 mln strategic investment in co through the purchase of 4 mln shares at $7.5 apiece

** MGTX says it is being approached by multiple parties with strategic interest in different assets and is actively pursuing these options

** Sanofi to receive right of first negotiation for the use of MGTX's gene regulation technology for certain Immunology and Inflammation and Central Nervous System (CNS) targets

** Sanofi will also get the right of first negotiation for MGTX's mid-phase Xerostomia program

** Evercore Group is serving as financial advisor for MGTX

** Up to Friday's close, stock down ~43% YTD

(Reporting by Khushi Mandowara in Bengaluru)

((Khushi.Mandowara@thomsonreuters.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.