Aug. 14 at 12:35 AM
MeiraGTx Holdings reported a major Q2 2026 earnings beat, with EPS of
$1.71 versus the
$0.31 consensus loss and revenue of
$321.4M versus expectations of less than $ 1M. Net income reached
$160.7M, reversing a
$38.8M loss a year earlier, driven by service and related-party revenue from its contract manufacturing agreement with Lilly, as well as recognition of previously deferred collaboration revenue from Janssen and Hologen.
The gene-therapy company also announced several strategic catalysts. The FDA granted Breakthrough Therapy Designation to its AAV2-hAQP1 program for radiation-induced xerostomia, while MeiraGTx completed its acquisition of bota-vec rights from Johnson & Johnson and signed an agreement with Oberland Capital for up to
$400M in strategic financing.
Cash, cash equivalents and restricted cash rose to
$145.4M as of June 30, 2026, from
$34.4M a year earlier, significantly strengthening its financial position.
$MGTX