Press release
MeiraGTx Reports Second Quarter 2020 Financial Results
- Positive initial data from Phase 1/2 clinical trial of AAV-RPGR for the treatment of XLRP recently presented- AAV-RPGR to advance into Phase 3 Lumeos
About this update from Meiragtx Holdings Plc
[{"type":"text","content":"- Positive initial data from Phase 1/2 clinical trial of AAV-RPGR for the treatment of XLRP recently presented- AAV-RPGR to advance into Phase 3 Lumeos clinical trial- Expands manufacturing capabilities with new facilities in Ireland LONDON and NEW YORK, Aug. 06, 2020 (GLOBE NEWSWIRE) -- MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company, today announced financial results for the second quarter ended June 30, 2020 and provided an update on recent clinical development and business progress, including the Company’s new cGMP viral vector manufacturing and plasmid production facilities in Shannon, Ireland. “The first half of 2020 has been marked by notable achievements for MeiraGTx, including the recent presentation of positive clinical data on our investigational therapy for people with the severe inherited retinal disease X-linked retinitis pigmentosa, which demonstrate that AAV-RPGR treatment improved vision and support advancing the program into a pivotal trial,” said Alexandria Forbes, Ph.D., president and chief executive officer of MeiraGTx. MeiraGTx and Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, are jointly developing AAV-RPGR as part of a broader collaboration to develop and commercialize gene therapies for the treatment of inherited retinal diseases. “As we advance and expand our clinical pipeline of potential gene therapy products, our flexible and scalable cGMP manufacturing capabilities become increasingly critical in enabling the efficient and timely development of these potential therapies,” continued Dr. Forbes. “We look forward to working with the local community in Shannon, Ireland as we establish our second cGMP viral vector manufacturing facility and our cGMP plasmid production facility. We expect our plasmid production facility to be operational by the end of 2020, and our second viral vector manufacturing facility to be operational by the end of 2021.” As of June 30, 2020, MeiraGTx had cash and cash equivalents of $194.8 million. In addition, the Company expects approximately $24.4 million in receivables from development partner Janssen in the next 90 days. MeiraGTx believes this capital will be sufficient to fund operating expenses and capital expenditure requirements into 2022. Recent Clinical Develo...