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MeiraGTx (MGTX)

MeiraGTx is a vertically integrated, clinical stage gene therapy company with six programs in clinical development and a broad pipeline of preclinical and research programs. MeiraGTx has core capabilities in viral vector design and optimization and gene therapy manufacturing, as well as a potentially transformative gene regulation technology. Led by an experienced management team, MeiraGTx has taken a portfolio approach by licensing, acquiring and developing technologies that give depth across both product candidates and indications. MeiraGTx's initial focus is on three distinct areas of unmet medical need: ocular, including inherited retinal diseases and large degenerative diseases, neurodegenerative diseases and severe forms of xerostomia. Though initially focusing on the eye, central nervous system and salivary gland, MeiraGTx intends to expand its focus in the future to develop additional gene therapy treatments for patients suffering from a range of serious diseases.

Company profile

Ticker
MGTX
Exchange
Website
CEO
Alexandria Forbes
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
BRI-Alzan, Inc. • MeiraGTx B.V. • MeiraGTx Netherlands B.V. • MeiraGTx Limited • MeiraGTx, LLC • MeiraGTx UK Limited • MeiraGTx UK II Limited • MeiraGTx Ireland • MeiraGTx Neurosciences, Inc. • MeiraGTx Bio Inc. ...

MGTX stock data

Analyst ratings and price targets

Last 3 months

Calendar

11 Aug 22
14 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 72.11M 72.11M 72.11M 72.11M 72.11M 72.11M
Cash burn (monthly) 13.89M 8.37M 7.92M 6.93M 9.27M 2.87M
Cash used (since last report) 21.07M 12.7M 12.01M 10.51M 14.06M 4.36M
Cash remaining 51.03M 59.41M 60.09M 61.59M 58.05M 67.75M
Runway (months of cash) 3.7 7.1 7.6 8.9 6.3 23.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jun 22 Hukkelhoven Ellen Restricted Share Units Ordinary Shares Grant Acquire A No No 0 15,000 0 15,000
7 Jun 22 Hukkelhoven Ellen Stock Option Ordinary Shares Grant Acquire A No No 8.25 15,000 123.75K 15,000
7 Jun 22 Marcus Joel S Restricted Share Units Ordinary Shares Grant Acquire A No No 0 15,000 0 15,000
7 Jun 22 Marcus Joel S Stock Option Ordinary Shares Grant Acquire A No No 8.25 15,000 123.75K 15,000
7 Jun 22 Harris Keith R. Restricted Share Units Ordinary Shares Grant Acquire A No No 0 20,000 0 20,000
7 Jun 22 Harris Keith R. Stock Option Ordinary Shares Grant Acquire A No No 8.25 20,000 165K 20,000
7 Jun 22 Indyk Martin Restricted Share Units Ordinary Shares Grant Acquire A No No 0 15,000 0 15,000
7 Jun 22 Indyk Martin Stock Option Ordinary Shares Grant Acquire A No No 8.25 15,000 123.75K 15,000
7 Jun 22 Levine Arnold J Restricted Share Units Ordinary Shares Grant Acquire A No No 0 15,000 0 15,000
7 Jun 22 Levine Arnold J Stock Option Ordinary Shares Grant Acquire A No No 8.25 15,000 123.75K 15,000
69.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 102 98 +4.1%
Opened positions 18 30 -40.0%
Closed positions 14 12 +16.7%
Increased positions 30 29 +3.4%
Reduced positions 30 29 +3.4%
13F shares Current Prev Q Change
Total value 448.25M 992.04M -54.8%
Total shares 30.88M 30.91M -0.1%
Total puts 27.9K 67.1K -58.4%
Total calls 23.3K 57.8K -59.7%
Total put/call ratio 1.2 1.2 +3.1%
Largest owners Shares Value Change
Perceptive Advisors 6.95M $96.2M 0.0%
Orbimed Advisors 3.3M $45.66M -11.6%
Adage Capital Partners GP, L.L.C. 2.97M $41.16M +3.8%
JNJ Johnson & Johnson 2.9M $40.15M 0.0%
ARE Alexandria Real Estate Equities 1.98M $47.07M 0.0%
BLK Blackrock 1.88M $26.04M +0.0%
TROW T. Rowe Price 1.81M $25.05M -10.5%
683 Capital Management 1.36M $18.77M 0.0%
KDMN Kadmon 697.74K $10.56M 0.0%
Royce & Associates 656.18K $9.09M -2.6%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -779.29K EXIT
Orbimed Advisors 3.3M -430.8K -11.6%
Prosight Management 380.7K +380.7K NEW
Assenagon Asset Management 299.86K +299.86K NEW
GS Goldman Sachs 299.68K +258.7K +631.2%
TROW T. Rowe Price 1.81M -211.79K -10.5%
Adage Capital Partners GP, L.L.C. 2.97M +109.1K +3.8%
Dimensional Fund Advisors 401.39K +103.69K +34.8%
Millennium Management 83.61K +83.61K NEW
Captrust Financial Advisors 12.28K -59.62K -82.9%

Financial report summary

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Management Discussion
  • License revenue was $10.8 million for the three months ended June 30, 2022, compared to $5.1 million for the three months ended June 30, 2021. This increase represents increased amortization of the $100.0 million upfront payment as well as amortization of the $30.0 million milestone payment received in connection with the Collaboration Agreement.
  • General and administrative expenses were $10.5 million for the three months ended June 30, 2022, compared to $10.4 million for the three months ended June 30, 2021. The increase of $0.1 million was primarily due to an increase of $1.0 million in share-based compensation, $0.4 million in legal and accounting fees, $0.1 million in depreciation and $0.2 million in other office related costs. These increases were partially offset by decreases of rent and facilities costs of $0.9 million due to additional allocations to research and development, $0.4 million in insurance costs and $0.3 million in payroll and payroll-related costs.
  • Research and development expenses for the three months ended June 30, 2022 were $24.0 million, compared to $15.2 million for the three months ended June 30, 2021. The increase of $8.8 million was primarily due to an increase of $2.2 million in payroll and payroll-related costs, $1.9 million in costs related to the manufacture of material for our clinical trials, $1.1 million in share-based compensation, $1.0 million in rent and facilities costs, $0.4 million in costs related to our pre-clinical research and clinical trials, $0.2 million in other research and development costs and a decrease of $2.3 million in research funding provided under our Collaboration Agreement with Janssen. These increases were partially offset by a decrease of $0.2 million in license fees and $0.1 million in depreciation.

Content analysis

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H.S. senior Avg
New words: Academy, agent, annum, bank, Chicago, default, Discretionary, floor, IL, incurrence, ix, largest, lender, loan, LP, margin, monetize, overnight, preclude, repay, sequester, Subsidiary, tenor, thereunder, tranche, transport, untreated, vi, vii, viii, vision, visual, xi
Removed: promoter, riboswitch