MeiraGTx Holdings plc MGTX
We are a vertically integrated, clinical-stage genetic medicines company with a broad pipeline of late-stage clinical programs, including radiation-induced xerostomia, Parkinson's disease and AIPL1-associated retinal dystrophy. Our clinical programs use targeted local delivery of small doses of genetic medicines to treat both inherited and more common conditions with severe unmet need. The successful development of the clinical pipeline is supported by our internal end-to-end manufacturing capabilities. We have two viral vector production facilities for good manufacturing practices, or GMP, internal plasmid production for GMP, as well as an in-house Quality Control hub for stability and release, all fit for Investigational New Drug application (IND) through commercial supply. In addition, we have developed a proprietary manufacturing platform with industry-leading yield and quality aspects and commercial readiness. Our core capabilities in viral vector and capsid optimization allow increased potency, decreased dose and significantly reduced cost of goods for our genetic medicines. We have developed a transformative gene regulation platform using bespoke synthetic riboswitch technology invented in-house that allows for the precise, dose-responsive expression of any transgene under the control of oral small molecules. We are focusing the riboswitch platform on the in vivo delivery of biologic therapeutics such as the metabolic peptides glucagon-like peptide-1 (GLP-1), glucose-dependent insulinotropic polypeptide (GIP), glucagon, amylin, peptide YY (PYY) and leptin via oral small molecules, as well as cell therapy for oncology and autoimmune diseases, and long term intractable pain. We have developed unique comprehensive technology capabilities to apply genetic medicine to more prevalent diseases, increasing efficacy, addressing novel targets, and expanding access in some of the largest disease areas where the unmet need remains high.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.4M | $33.3M | $14.0M | $15.9M | $37.7M | $15.6M | $13.3M | — | — | — |
| R&D | $129.6M | $119.5M | $103.8M | $85.7M | $66.7M | $33.9M | $24.9M | $33.6M | $22.4M | — |
| SG&A | $52.9M | $54.2M | $47.3M | $46.5M | $43.8M | $44.2M | $46.7M | $44.5M | $9.3M | — |
| Total operating expenses | $187.4M | $197.5M | $151.1M | $132.3M | $110.5M | $78.1M | $71.6M | $78.1M | $31.7M | — |
| Operating income | -$106.0M | -$164.2M | -$137.1M | -$116.4M | -$72.8M | -$62.6M | -$58.3M | -$78.1M | -$31.7M | — |
| Interest expense | $12.2M | $13.3M | $13.2M | $4.9M | $288.0K | $139.0K | $48.6K | $33.4K | $42.9K | — |
| Pre-tax income | -$114.2M | -$147.8M | -$84.0M | -$129.6M | -$79.6M | -$58.0M | -$54.7M | -$83.3M | -$31.0M | — |
| Income tax | $0 | $0 | $0 | — | $0 | $0 | $0 | $474.4K | $0 | — |
| Net income | -$114.2M | -$147.8M | -$84.0M | -$129.6M | -$79.6M | -$58.0M | -$54.7M | -$82.9M | -$31.0M | — |
| EPS, basic | -1.42 | -2.12 | -1.49 | -2.87 | -1.80 | -1.54 | — | — | — | — |
| EPS, diluted | -1.42 | -2.12 | -1.49 | -2.87 | -1.80 | -1.54 | -1.65 | -4.47 | -3.72 | — |
| Shares, diluted (wtd. avg.) | 80.4M | 69.8M | 56.5M | 45.2M | 44.1M | 37.7M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $65.9M | $103.7M | $130.6M | $115.5M | $137.7M | $209.5M | $227.4M | $68.2M | $8.7M | $17.9M |
| Receivables | $3.0M | $707.0K | $10.1M | $21.3M | — | — | — | — | — | — |
| Inventory | — | $385.0K | — | — | — | — | — | — | — | — |
| Total current assets | $91.8M | $123.5M | $159.6M | $154.3M | $183.2M | $272.6M | $269.0M | $74.7M | $11.5M | — |
| Property, plant and equipment | $105.5M | $102.9M | $115.9M | $109.3M | $75.9M | $44.0M | $23.9M | $22.0M | $14.3M | — |
| Other intangibles | $578.0K | $821.0K | $1.1M | $1.3M | $1.8M | $2.1M | $0 | — | — | — |
| Total assets | $244.4M | $269.8M | $326.7M | $318.2M | $320.2M | $363.7M | $323.9M | $96.9M | $25.9M | — |
| Accounts payable | $10.1M | $23.6M | $16.0M | $16.6M | $15.3M | $7.1M | $3.8M | $3.0M | $7.1M | — |
| Total current liabilities | $122.6M | $60.8M | $67.1M | $82.1M | $68.1M | $54.1M | $49.2M | $15.5M | $21.4M | — |
| Total liabilities | $250.2M | $201.9M | $188.6M | $200.5M | $134.8M | $125.1M | $133.1M | $15.8M | $21.9M | — |
| Retained earnings | -$816.2M | -$702.0M | -$554.2M | -$470.2M | -$340.6M | -$261.0M | -$203.0M | -$148.3M | -$65.4M | — |
| Total equity | -$5.8M | $67.8M | $138.2M | $117.7M | $185.4M | $238.6M | $190.8M | $81.1M | -$47.4M | -$17.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$46.4M | -$104.5M | -$105.4M | -$73.1M | -$10.5M | -$64.0M | $20.0M | -$58.9M | -$18.1M | — |
| Depreciation and amortisation | $12.5M | $12.8M | $13.7M | $8.7M | $7.9M | $4.2M | $2.2M | $2.1M | $679.2K | — |
| Stock-based compensation | $22.1M | $25.2M | $27.7M | $28.6M | $20.8M | $18.4M | $15.9M | $17.9M | $3.0M | — |
| Capital expenditure | $3.8M | $5.0M | $20.2M | $45.0M | $46.4M | $20.9M | $9.0M | $11.3M | $10.5M | — |
| Investing cash flow | -$4.1M | $23.5M | $34.0M | -$45.0M | -$61.7M | -$37.0M | -$9.4M | -$11.3M | -$10.5M | — |
| Financing cash flow | $12.3M | $54.5M | $84.0M | $95.2M | $1.7M | $82.7M | $148.2M | $130.0M | $19.3M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-036494.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $13.3M | $15.6M | $37.7M | $15.9M | $14.0M | $33.3M | $81.4M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | -$31.0M | -$82.9M | -$54.7M | -$58.0M | -$79.6M | -$129.6M | -$84.0M | -$147.8M | -$114.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Material agreement signed Item 1.01
- Material agreement signed Item 1.01
- Material agreement terminated Item 1.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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