MeiraGTx Holdings PLC (NASDAQ: MGTX) recently released its financial and operational results for the third quarter ended September 30, 2025. The company reported having approximately $14.8 million in cash and cash equivalents, $2.8 million in receivables due from Johnson & Johnson Innovative Medicine, and $9.0 million in tax incentive receivables as of September 30, 2025.
The company entered a strategic collaboration with Eli Lilly and Company in the area of ophthalmology, granting Lilly worldwide exclusive rights to its AAV-AIPL1 program for the treatment of Leber Congenital Amaurosis 4 (LCA4). This collaboration also includes access to MeiraGTx’s gene therapy technologies for use in ophthalmology, with MeiraGTx receiving an upfront payment of $75 million and the potential for over $400 million in total milestone payments. MeiraGTx is also eligible to receive tiered royalties on licensed products.
In terms of its late-stage clinical programs, MeiraGTx reported that its pivotal phase 2 study of AAV-HAQP1 for the treatment of radiation-induced xerostomia (RIX) remains on track to achieve target enrollment at the end of this year. The company also expects to have data that, if positive, may lead to a Biologics License Application (BLA) for AAV-HAQP1 in early 2027, with potential approval later in the year.
MeiraGTx also anticipates initiating a phase 3 study evaluating AAV-GAD for the treatment of Parkinson’s disease and is currently in discussions with sites globally for inclusion in the study.
Furthermore, the company has completed optimization of its lead riboswitch program for entry into the clinic for the delivery of native human leptin controlled by a daily oral small molecule to treat inherited and acquired leptin deficiency. The company has demonstrated the durability of leptin production dynamics and efficacy of its riboswitch-controlled leptin over more than a year of oral dosing in the mouse model and has manufactured GMP small molecule inducer for the clinic, engaging the FDA in IND enabling discussions.
Additionally, MeiraGTx successfully developed, manufactured, and provided material for its second specials program in the UK for the treatment of BBS10-associated retinal dystrophy, with one child treated so far.
In terms of its financials, MeiraGTx reported having cash, cash equivalents, and restricted cash of $17.1 million as of September 30, 2025, compared to $105.7 million as of December 31, 2024. Service revenue for the three months ended September 30, 2025, was $0.4 million, compared to $10.9 million for the three months ended September 30, 2024. The company also reported a decrease in cost of service revenue, which was $0.3 million for the three months ended September 30, 2025, compared to $12.0 million for the three months ended September 30, 2024.
MeiraGTx’s recent developments and financial results indicate its ongoing efforts in advancing its gene therapy programs and strategic collaborations, while also managing its financial position. Today the company's shares have moved -4.62% to a price of $8.26. If you want to know more, read the company's complete 8-K report here.
