Press release
MeiraGTx Reports Full Year 2019 Financial Results
LONDON and NEW YORK, March 11, 2020 (GLOBE NEWSWIRE) -- MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company,
About this update from Meiragtx Holdings Plc
[{"type":"text","content":"LONDON and NEW YORK, March 11, 2020 (GLOBE NEWSWIRE) -- MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company, today announced financial results for the full year ended December 31, 2019 and provided an update on recent progress.\n “During 2019, the MeiraGTx team reached meaningful milestones, including the initiation of two new clinical trials and our entry into a collaboration with Janssen to develop and commercialize our pipeline of inherited retinal disease treatments,” said Alexandria Forbes, Ph.D., president and chief executive officer of MeiraGTx. “We have treated patients across five gene therapy clinical trials in the last year and remain committed to developing cutting-edge science that we can translate into treatments for patients affected by severe diseases. Over the next year, we expect to move inherited retinal disease programs into late-stage studies, share preliminary data from our xerostomia program and file an IND to initiate the next clinical study of AAV-GAD for Parkinson’s disease.” As of December 31, 2019, MeiraGTx had cash and cash equivalents of approximately $227.4 million. The Company believes this capital will be sufficient to fund operating expenses and capital expenditure requirements into 2022. Recent Clinical Development Highlights and Anticipated 2020 Milestones AAV-AQP1 for the treatment of Grade 2/3 Radiation-Induced Xerostomia: MeiraGTx continues to activate clinical trial sites in the Company’s recently initiated Phase 1/2 AQUAx study, with patients now being enrolled at three of five expected study sites. Dosing in the first cohort was completed in the first quarter of 2020.The Company’s single center Phase 1 dose-finding study of AAV-AQP1 also continues to enroll patients at the National Institutes of Health (NIH). Enrollment in the fourth dose escalation cohort is now ongoing.MeiraGTx expects to report preliminary data from the AQUAx clinical trial in the second half of 2020. Janssen-partnered investigational gene therapies for the treatment of inherited retinal diseases: In 2019, MeiraGTx and Janssen Pharmaceuticals, Inc. (Janssen), part of the Janssen Pharmaceutical Companies of Johnson & Johnson, entered into a worldwide collaboration and license agreement to develop, manufacture and commercialize gene therapies for inherited retinal diseases,...