Genetic medicines firm MeiraGTx misses Q3 revenue expectations, net loss widens

Reuters11-13

Genetic medicines firm MeiraGTx misses Q3 revenue expectations, net loss widens

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/Miss	Actual	Consensus Estimate
Q3 Revenue	Miss	$410,000	$6.96 mln (5 Analysts)
Q3 EPS		-$0.62
Q3 Net Income		-$50.51 mln
Q3 Income from Operations		-$46.05 mln
Q3 Operating Expenses		$46.46 mln

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: ID:nGNX3Mp2rM

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)

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