MeiraGTx announces Q3 earnings per share of 62 cents, compared to a loss of 55 cents in the previous year.
Q3 Financial Performance: The company reported Q3 revenue of $410,000, a significant decrease from $10.9 million last year, while announcing a strategic collaboration with Eli Lilly focused on gene therapy for LCA4, a severe inherited retinopathy.
Gene Therapy Advancements: The AAV-AIPL1 program has shown promising results, with all 11 treated children gaining vision, highlighting the potential of gene therapy for severe genetic conditions when administered early.
Clinical Program Progress: The company is on track with its Phase 2 study of AAV-hAQP1 for radiation-induced xerostomia, expecting to complete enrollment by year-end and potentially file for a BLA in early 2027.
New Initiatives and Collaborations: The company is preparing to initiate a Phase 3 study for AAV-GAD in Parkinson's disease and has optimized its riboswitch program for leptin deficiency, while also developing a treatment for BBS10-associated retinal dystrophy in collaboration with a philanthropic organization.
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Eli Lilly Enhances Genetic Eye Disease Pipeline Through Collaboration with MeiraGTx on Gene Therapy
MeiraGTx and Eli Lilly Collaboration: MeiraGTx Holdings has entered a strategic partnership with Eli Lilly, granting exclusive rights to its AAV-AIPL1 program for treating Leber congenital amaurosis 4, with an upfront payment of $75 million and potential milestone payments exceeding $400 million.
Clinical Success of AAV-AIPL1: Clinical trials showed that all 11 children treated with AAV-AIPL1 gained vision, with additional improvements in communication, behavior, learning, and social integration.
Riboswitch Technology: The collaboration includes access to MeiraGTx’s riboswitch technology for gene editing in ophthalmology, allowing precise control over therapeutic protein production through oral dosing.
SanegeneBio and Eli Lilly Partnership: SanegeneBio has also partnered with Eli Lilly to advance RNAi candidates for metabolic diseases, with potential milestone payments up to $1.2 billion and a focus on developing therapies that can be administered infrequently.
Eli Lilly Partners with MeiraGTx to Create Gene Therapies for Ocular Disorders
Collaboration Announcement: MeiraGTx (MGTX) shares rose approximately 18% in premarket trading after announcing a strategic collaboration with Eli Lilly (LLY) to develop gene therapies for eye diseases, specifically targeting Leber congenital amaurosis 4 (LCA4).
Exclusive Rights and Financial Terms: Under the agreement, Eli Lilly will receive exclusive global rights to MGTX's AAV-AIPL1 gene therapy program and other gene therapy technologies, with MeiraGTx set to receive $75 million upfront and over $400 million based on milestone achievements, along with tiered royalties on future sales.
