Quarterly ResultMay 14, 2026, 08:12 AM
MeiraGTx Reacquires bota-vec, Gets FDA BTD for AAV2-hAQP1; Q1 Net Loss $46.3M
AI Summary
MeiraGTx Holdings plc announced its first quarter 2026 financial and operational results, highlighted by the re-acquisition of full rights to botaretigene sparoparvovec (bota-vec) for X-linked retinitis pigmentosa from Johnson & Johnson for $25 million upfront. The company also received FDA Breakthrough Therapy Designation for AAV2-hAQP1 for radiation-induced xerostomia, with positive three-year Phase 1 data. Financially, MeiraGTx reported a net loss of $46.3 million, an increase from $40.0 million in Q1 2025, but strengthened its balance sheet with a $100 million public offering, extending its cash runway into the second half of 2028.
Key Highlights
- Re-acquired full rights to bota-vec for XLRP from J&J for $25 million upfront.
- Received FDA Breakthrough Therapy Designation for AAV2-hAQP1 in March 2026.
- Completed $100 million gross proceeds public equity offering in April 2026.
- Reported Q1 2026 net loss of $46.3 million, up from $40.0 million in Q1 2025.
- Cash and cash equivalents were $71.5 million as of March 31, 2026.
- Cash runway extended into H2 2028, including $95 million from Hologen.
- Q1 2026 service revenue was $0.3 million, down from $1.9 million in Q1 2025.
- Q1 2026 R&D expenses decreased to $32.0 million from $32.8 million in Q1 2025.