MeiraGTx Holdings PLC

MeiraGTx reported second quarter 2026 financial results with GAAP EPS of $1.71, beating estimates by $2.15. Revenue reached $321.4 million, an increase of 8610.0% year over year. The company issued the results via press release.

MeiraGTx reported second quarter 2026 financial and operational results, highlighted by the completion of its acquisition of botaretigene sparoparvovec from Johnson & Johnson for $25 million and a strategic investment of up to $400 million from Oberland Capital. The company received FDA Breakthrough Therapy Designation for AAV2-hAQP1 and reported positive three-year data from its Phase 1 AQUAx clinical trial for radiation-induced xerostomia. MeiraGTx anticipates submitting global regulatory filings for bota-vec in 2026 and a potential BLA filing for AAV2-hAQP1 in mid-2027. Net income attributable to ordinary shareholders for the quarter was $160.7 million, or $1.76 basic and $1.71 diluted per share, compared to a net loss of $38.8 million in the prior year period. Cash, cash equivalents and restricted cash totaled $145.4 million as of June 30, 2026.

MeiraGTx Chief Scientific Officer Stuart Naylor sold 27,659 shares for $409,000 on July 7, 2026, at a weighted average price of $14.80 per share. The sale, executed under a Rule 10b5-1 trading plan adopted in December 2025, reduced his direct holdings by 4% to 640,846 shares worth $9.39 million based on the closing price that day. The transaction occurred after the stock returned 89% over the prior year, with the company recently signing a collaboration with Eli Lilly worth $75 million upfront and over $400 million in potential milestones, reacquiring the late-stage eye therapy bota-vec from Johnson & Johnson, and securing FDA Breakthrough Therapy Designation for its dry-mouth gene therapy. CEO Alexandria Forbes stated the company is positioned to file for approval and launch two wholly owned therapies within two years, supported by cash runway into the second half of 2028 following a $100 million raise.

MeiraGTx has entered into an agreement with Oberland Capital for an investment of up to $400 million, including up to $375 million in non-dilutive capital for capped royalty payments on certain products and up to $25 million in equity. The initial $135 million funded includes $125 million in exchange for low single-digit royalties on the included products and a $10 million equity investment. An additional $50 million will be available at the company's option tied to AAV2-hAQP1 positive data readouts from the Phase 2 AQUAx2 study in 2027, another $50 million tied to regulatory approval of botaretigene sparoparvovec in 2027, and a further $50 million tied to regulatory approval of AAV2-hAQP1 in 2028. A further $100 million is available upon mutual agreement for new products or business development, and Oberland Capital has the right to purchase an additional $15 million in equity. Following regulatory approval, Oberland Capital will receive low single-digit capped royalties on the net sales of AAV2-hAQP1 for grade 2/3 late radiation-induced xerostomia, botaretigene sparoparvovec for X-linked retinitis pigmentosa, and AAV-AIPL1 for LCA4.