MeiraGTX CFO Richard Giroux sells $150,960 in extraordinary shares

Richard Giroux, the Chief Monetary Officer and Chief Working Officer of MeiraGTx Holdings plc (NASDAQ:MGTX), a biotechnology firm with a market capitalization of $500 million, not too long ago executed a sale of 24,000 extraordinary shares. The transaction, accomplished on January 21, 2025, was carried out underneath a Rule 10b5-1 buying and selling plan that Giroux adopted on August 29, 2024. The sale comes because the inventory has proven vital momentum, gaining over 37% prior to now six months. The shares have been bought at a weighted common worth of $6.29 per share, with particular person transaction costs starting from $6.14 to $6.39, leading to a complete sale worth of $150,960.

Following this transaction, Giroux holds 849,947 shares instantly. Moreover, he not directly owns 5,152 shares by his partner and 85,000 shares by Aigle Healthcare Companions III LLC.

In different current information, MeiraGTx Holdings has made headlines with its gene remedy candidate AAV2-hAQP1 being granted Regenerative Drugs Superior Remedy (RMAT) designation by the U.S. Meals and Drug Administration (FDA) for the therapy of radiation-induced xerostomia, a extreme facet impact of radiation remedy in head and neck most cancers sufferers. This marks a major regulatory milestone, reflecting preliminary scientific proof of the remedy’s potential. The corporate’s current monetary report showcased income of $13.93 million within the final twelve months and a wholesome liquidity place with a present ratio of two.34.

Moreover, MeiraGTx reported promising outcomes from its scientific trial MGT-GAD-025, geared toward treating Parkinson’s illness. The examine displayed vital enhancements in key efficacy endpoints for sufferers. This current growth is a part of the corporate’s ongoing analysis and growth actions.

Within the realm of monetary evaluation, Piper Sandler maintained its Obese ranking on MeiraGTx’s shares, anticipating potential near-term catalysts and a milestone fee of $285 million from a partnership with Johnson & Johnson (NYSE:JNJ). RBC Capital additionally adjusted its worth goal for the corporate whereas sustaining an Outperform ranking. MeiraGTx has introduced a public providing of 12.5 million extraordinary shares at $4 every, desiring to generate $50 million for normal company functions. Chardan Capital Markets initiated protection on the corporate with a Purchase ranking, expressing confidence within the gene remedy pipeline. These are the current developments regarding MeiraGTx.

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