of this press release.
Contacts
Investors:
MeiraGTx
Investors@meiragtx.com
or
Media:
Jason Braco, Ph.D.
LifeSci Communications
jbraco@lifescicomms.com
MEIRAGTX HOLDINGS PLC AND SUBSIDIARIES
------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS
------------------------------------------------------------------------
(in thousands, except share and per share amounts)
------------------------------------------------------------------------
For the Years Ended December 31,
--------------------------------------
2023 2022
------------------- -----------------
License revenue - related party $ 14,017 $ 15,920
Operating expenses:
General and administrative 47,293 46,550
Research and development 103,785 85,725
-------------- -------------
Total operating expenses 151,078 132,275
-------------- -------------
Loss from operations (137,061) (116,355)
Other non-operating income
(expense):
Foreign currency gain (loss) 9,300 (9,452)
Interest income 2,272 777
Interest expense (13,245) (4,946)
Gain on sale of nonfinancial
assets 54,208 --
Fair value adjustment 499 361
-------------- -------------
Net loss (84,027) (129,615)
Other comprehensive (loss)
income:
Foreign currency translation
(loss) gain (7,482) 8,718
-------------- -------------
Comprehensive loss $ (91,509) $ (120,897)
============== =============
Net loss $ (84,027) $ (129,615)
============== =============
Basic and diluted net loss per
ordinary share $ (1.49) $ (2.87)
============== =============
Weighted-average number of
ordinary shares outstanding 56,486,525 45,177,857
============== =============
MEIRAGTX HOLDINGS PLC AND SUBSIDIARIES
--------------------------------------------------------------------------
CONSOLIDATED BALANCE SHEETS
--------------------------------------------------------------------------
(in thousands, except share and per share amounts)
--------------------------------------------------------------------------
December 31, December 31,
2023 2022
-------------- ----------------
ASSETS
----------------------------------------
CURRENT ASSETS:
Cash and cash equivalents $ 129,566 $ 115,516
Accounts receivable - related party 10,138 21,334
Prepaid expenses 5,625 8,133
Tax incentive receivable 13,277 7,689
Other current assets 1,016 1,667
--------- ---------
Total Current Assets 159,622 154,339
Property, plant and equipment, net 115,896 109,266
Intangible assets, net 1,118 1,335
In-process research and development -- 742
Restricted cash 1,083 --
Other assets 1,917 1,402
Equity method and other investments 6,766 6,326
Right-of-use assets - operating leases,
net 15,910 20,109
Right-of-use assets - finance leases,
net 24,432 24,718
--------- ---------
TOTAL ASSETS $ 326,744 $ 318,237
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
----------------------------------------
CURRENT LIABILITIES:
Accounts payable $ 16,042 $ 16,616
Accrued expenses 42,639 39,818
Lease obligations, current 4,193 3,884
Deferred revenue - related party,
current 2,926 15,123
Other current liabilities 1,278 6,631
--------- ---------
Total Current Liabilities 67,078 82,072
Deferred revenue - related party 34,017 27,436
Lease obligations 12,952 17,331
Asset retirement obligations 2,401 2,179
Deferred income tax liability -- 186
Note payable, net 72,119 71,033
Other long-term liabilities -- 262
--------- ---------
TOTAL LIABILITIES 188,567 200,499
--------- ---------
COMMITMENTS AND CONTINGENCIES (Note 14)
SHAREHOLDERS' EQUITY:
Ordinary Shares, $0.00003881 par value,
1,288,327,750 authorized, 63,601,015
and 48,477,209 shares issued and
outstanding at December 31, 2023 and
December 31, 2022, respectively 2 2
Capital in excess of par value 693,841 581,893
Accumulated other comprehensive (loss)
income (1,435) 6,047
Accumulated deficit (554,231) (470,204)
--------- ---------
Total Shareholders' Equity 138,177 117,738
--------- ---------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $ 326,744 $ 318,237
========= =========
(END) Dow Jones Newswires
March 14, 2024 08:30 ET (12:30 GMT)
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