BUZZ-MeiraGTx climbs as Sanofi makes $30 million investment

Dow Jones Industrial Average -0.99%
S&P 500 INDEX -0.95%
MEIRAGTX HOLDINGS PLC -2.01%
NASDAQ -1.36%

Dow Jones Industrial Average

DJI

44303.40

-0.99%

S&P 500 INDEX

SPX

6025.99

-0.95%

MEIRAGTX HOLDINGS PLC

MGTX

6.81

-2.01%

NASDAQ

IXIC

19523.40

-1.36%

** 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;))

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