Genetic medicines firm MeiraGTx misses Q3 revenue expectations, net loss widens
MeiraGTx's Q3 revenue fell short of analyst expectations, with a significant decline from last year. The company reported a net loss of $50.5 million, driven by increased R&D expenses. MeiraGTx has entered a strategic collaboration with Eli Lilly, receiving a $75 million upfront payment. Analysts maintain a "buy" rating, with a median price target of $29.00, significantly above the current price. The company plans Phase 3 studies for Parkinson's disease and anticipates Phase 2 data for AAV-hAQP1 in 2027.
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Overview
- MeiraGTx Q3 revenue misses analyst expectations, declining significantly from last year
- Company enters strategic collaboration with Eli Lilly, including $75 mln upfront payment
- Net loss widens to $50.5 mln in Q3, driven by increased R&D expenses
Outlook
- Company anticipates Phase 2 data for AAV-hAQP1 in early 2027
- MeiraGTx plans Phase 3 study for AAV-GAD in Parkinson’s disease soon
- Company expects riboswitch program to enter clinic for leptin deficiency
Result Drivers
- R&D - The increase of $6.3 million was primarily due to an increase in manufacturing costs
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 Miss $410,000 $6.96
Revenue mln (5
Analysts
)
Q3 EPS -$0.62
Q3 Net -$50.51
Income mln
Q3 -$46.05
Income mln
from
Operatio
ns
Q3 $46.46
Operatin mln
g
Expenses
Analyst Coverage
- The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 7 “strong buy” or “buy”, no “hold” and no “sell” or “strong sell”
- The average consensus recommendation for the biotechnology & medical research peer group is “buy”
- Wall Street’s median 12-month price target for MeiraGTx Holdings PLC is $29.00, about 70.1% above its November 12 closing price of $8.66
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
