The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to prepare a predetermined plan to sell stock to avoid concerns about insider trading. Following these transactions, Forbes has a total of 1,383,441 MeiraGTx shares as direct ownership.
The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to prepare a predetermined plan to sell stock to avoid concerns about insider trading. Following these transactions, Forbes has a total of 1,383,441 MeiraGTx shares as direct ownership.
The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to prepare a predetermined plan to sell stock to avoid concerns about insider trading. Following these transactions, Forbes has a total of 1,383,441 MeiraGTx shares as direct ownership.
In other recent news, Mira GTX Holdings (NASDAQ:) has achieved significant milestones in its clinical trials and financial developments. The U.S. Food and Drug Administration (FDA) has granted Regenerative Medicine Advanced Therapy (RMAT) designation to the company's gene therapy candidate AAV2-hAQP1 for the treatment of radiation-induced xerostomia. This regulatory advance reflects the potential of the treatment as a one-time treatment for a condition that affects a large number of head and neck cancer patients.
MeiraGTx also announced positive results from its MGT-GAD-025 clinical trial, which focused on treating Parkinson's disease. The trial showed significant improvements in patients with idiopathic Parkinson's disease. The company plans to deal with regulators in the United States, Europe, and Japan to begin a phase three study.
Financial analysts have shown confidence in MeiraGTx's prospects. Piper Sandler maintained an Overweight rating on the company's shares, citing potential near-term catalysts and an expected $285 million milestone boost from the partnership with Johnson & Johnson (NYSE:). Likewise, RBC Capital maintained an Outperform rating, as it revised its price target on the company.
Additionally, MeiraGTx announced a public offering of 12.5 million common shares at $4 per share, with the goal of generating $50 million to cover research and development expenses and clinical trial costs. Chardan Capital Markets initiated coverage of MeiraGTx with a Buy rating, expressing confidence in the company's gene therapy pipeline. These are among the latest developments that highlight MeiraGTx's ongoing financial and research activities.
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