The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for selling stocks to avoid concerns about insider trading. Following these transactions, Forbes holds a total of 1,383,441 shares of MeiraGTx in direct ownership.
The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for selling stocks to avoid concerns about insider trading. Following these transactions, Forbes holds a total of 1,383,441 shares of MeiraGTx in direct ownership.
The transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for selling stocks to avoid concerns about insider trading. Following these transactions, Forbes holds a total of 1,383,441 shares of MeiraGTx in direct ownership.
In other recent news, MeiraGTx Holdings (NASDAQ:MGTX) has achieved significant milestones in its clinical trials and financial developments. The U.S. Food and Drug Administration (FDA) 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 advancement reflects the therapy's potential as a one-time treatment for a condition affecting a large number of head and neck cancer patients.
MeiraGTx has also reported positive results from its MGT-GAD-025 clinical trial, focused on treating Parkinson’s disease. The trial demonstrated significant improvements in patients with idiopathic Parkinson's disease. The company plans to engage with regulators in the US, Europe, and Japan to initiate a Phase 3 study.
Financial analysts have shown confidence in MeiraGTx's prospects. Piper Sandler maintained its Overweight rating on the company's shares, noting potential near-term catalysts and an anticipated milestone payment of $285 million from a partnership with Johnson & Johnson (NYSE:JNJ). Similarly, RBC (TSX:RY) Capital maintained an Outperform rating, adjusting its price target for the company.
Additionally, MeiraGTx announced a public offering of 12.5 million ordinary shares at $4 each, aiming to generate $50 million for research and development expenses and clinical trial costs. Chardan Capital Markets initiated coverage on MeiraGTx with a Buy rating, expressing confidence in the company's gene therapy pipeline. These are among the recent developments that highlight MeiraGTx's ongoing financial and research activities.
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