MeiraGTx Reports a $0.53 Per-Share Loss in Third Quarter as Research Spending Rises
Key Facts
MeiraGTx reported a basic and diluted net loss of $0.53 per share in the third quarter of 2026, compared with a loss of $0.62 in the same period a year earlier, according to the company’s results. Meanwhile, research and development expenses rose to $39.3 million from $32.5 million a year earlier. The company said the increase primarily reflected higher clinical trial activity. The figures put the year-over-year changes in per-share loss and research spending in different directions. The company’s shares, listed under the ticker MGTX, closed at $9.68 in the November 11 session, according to EL7 data.
Research and development expenses totaled $39.3 million in the three months ended in the third quarter, up from $32.5 million in the corresponding period of 2025. MeiraGTx attributed the increase, according to its results statement, to clinical trial activity and the manufacture of AAV2-hAQP1 trial batches. It also cited costs for bota-vec following its reacquisition and higher costs for the AAV-GAD program. The company said the $6.8 million overall increase was primarily related to increased clinical trial activities. These items link the higher spending to the development programs and trials the company is pursuing.
On funding, the company said cash, cash equivalents and restricted cash totaled $186.8 million on September 30, 2026, compared with $17.1 million on September 30, 2025. It said available capital was sufficient to fund operating and capital expenditures through the second half of 2028. That estimate, however, excludes $135 million in potential cash consideration from Lilly. The potential payment is tied to development and regulatory approval milestones, so it is not included in the company’s estimate of available resources. The estimate sets out the funding horizon MeiraGTx identified alongside rising research and development spending.
In its second-quarter results, published on August 13, 2026, MeiraGTx said service revenue was $11.9 million in the three months ended June 30, compared with none in the corresponding period of 2025. The company attributed that revenue to contract manufacturing services provided to Lilly. These figures provide earlier context for service activity in 2026 results, but relate to the second quarter and do not represent third-quarter revenue. The second-quarter results announcement was the latest results announcement visible on the investor news page opened during a search on November 12. The company reported its third-quarter results in a separate announcement from the second-quarter results.
For the AQUAx2 program, the company expects to report 12-month data from the pivotal study in mid-2027. It said the data, if positive, could support filing a biologics license application, or BLA, by the end of 2027. It added that U.S. approval could come in 2028. These dates link potential regulatory steps to the study outcome, as presented by the company in its third-quarter results. Filing the application and receiving approval remain possibilities conditional on the data, according to the company’s wording.