MeiraGTx Holdings plc (MGTX) | Investment Case

1. Company Snapshot

1.a. Company Description

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases.The company develops various therapies for ocular diseases, including inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; degenerative diseases; neurodegenerative diseases, such as amyotrophic lateral sclerosis; and Parkinson's diseases.Its programs in clinical development include Phase 1/2 clinical stage programs in Achromatopsia, X-Linked Retinitis Pigmentosa, RPE65-deficiency, and radiation-induced Xerostomia, as well as Parkinson's program.

The company also focuses on initiating a clinical program in xerostomia related to Sjogren's syndrome and have preclinical programs in neurodegenerative diseases.It has a research collaboration agreement with Janssen Pharmaceuticals, Inc.to develop regulatable gene therapy treatment using the company's proprietary riboswitch technology.

MeiraGTx Holdings plc was incorporated in 2015 and is based in New York, New York.

Show Full description

1.b. Last Insights on MGTX

MeiraGTx Holdings plc's recent performance was positively driven by its strategic collaboration with Eli Lilly and Company to develop and commercialize genetic medicines in ophthalmology. The partnership, worth up to $475 million, grants Eli Lilly rights to its experimental gene therapy for a rare, inherited disorder. Additionally, the company's riboswitch technology and multiple collaborations highlight its innovation and diversified pipeline. The recent Q3 2025 financial results and operational update also showcased the company's progress. A potential earnings beat in the upcoming report is expected.

1.c. Company Highlights

Last Price	8.65
Change Percentage	0.58%
Open	8.55
Previous Close	8.6
Market Cap ( Millions)	696
Volume	504623
Year High	9.73
Year Low	4.55
M A 50	8.31
M A 200	7.27

FCF Yield	-16.87%
Dividend Yield	0.00%
ROE	-1065.47%
Debt / Equity	-6.10%
Net Debt / EBIDTA	8.50%
Price To Book	-17.26
Price Earnings Ratio	-4.15
Price To FCF	-5.93
Price To sales	25.39
EV / EBITDA	-4.7

2. Transcript Summary

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3. NewsRoom

Graviton Bioscience to Present Selective ROCK2 Obesity Data at 8th Annual Evercore HealthCONx Conference

Nov -20

Source: prnewswire.com

MeiraGTx Holdings PLC (MGTX) Reports Q3 Loss, Lags Revenue Estimates

Nov -13

Source: zacks.com

MeiraGTx Reports Third Quarter 2025 Financial and Operational Results

Nov -13

Source: globenewswire.com

MeiraGTx: Latest Eli Lilly Partnership Ignites Riboswitch Technology Potential

Nov -12

Source: seekingalpha.com

Eli Lilly signs deal for MeiraGTx's gene therapy for severe eye disease

Nov -10

Source: reuters.com

MeiraGTx Enters into Strategic Collaboration with Eli Lilly and Company to Develop and Commercialize Genetic Medicines in Ophthalmology

Nov -10

Source: globenewswire.com

MeiraGTx Holdings PLC (MGTX) Expected to Beat Earnings Estimates: What to Know Ahead of Q3 Release

Nov -05

Source: zacks.com

MeiraGTx (MGTX) Moves 12.4% Higher: Will This Strength Last?

Oct -22

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.03%)

6. Segments

Retinal Drugs and Gene Therapies

Expected Growth: 9.03%

MeiraGTx Holdings plc's Retinal Drugs and Gene Therapies segment growth is driven by increasing prevalence of inherited retinal diseases, advancements in gene therapy technology, and strong clinical trial results. Growing demand for novel treatments, strategic partnerships, and expanding product pipeline also contribute to the 9.03% growth.

7. Detailed Products

AAV-RPGR

Gene therapy for the treatment of X-linked retinitis pigmentosa

AAV-CNGB3

Gene therapy for the treatment of achromatopsia

AAV-RHO

Gene therapy for the treatment of rhodopsin-mediated autosomal dominant retinitis pigmentosa

AAV-ND4

Gene therapy for the treatment of Leber hereditary optic neuropathy

AAV-GAD

Gene therapy for the treatment of Parkinson's disease

AAV-FLT1

Gene therapy for the treatment of wet age-related macular degeneration

8. MeiraGTx Holdings plc's Porter Forces

Forces Ranking

Threat Of Substitutes

MeiraGTx Holdings plc operates in the biotechnology industry, which is characterized by high research and development costs. While there are substitutes available, they are not easily accessible, and the company's products are differentiated, reducing the threat of substitutes.

Bargaining Power Of Customers

MeiraGTx Holdings plc's customers are primarily pharmaceutical companies and research institutions, which have limited bargaining power due to the company's specialized products and services.

Bargaining Power Of Suppliers

MeiraGTx Holdings plc relies on a few key suppliers for raw materials and equipment, giving them some bargaining power. However, the company's specialized products and services reduce the suppliers' negotiating power.

Threat Of New Entrants

The biotechnology industry is highly competitive, and new entrants can easily disrupt the market. MeiraGTx Holdings plc's intellectual property and specialized products provide some barriers to entry, but new entrants can still pose a significant threat.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share. MeiraGTx Holdings plc faces intense competition from companies with similar products and services.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	35.58%
Debt Cost	10.48%
Equity Weight	64.42%
Equity Cost	10.48%
WACC	10.48%
Leverage	55.23%

11. Quality Control: MeiraGTx Holdings plc passed 2 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Ginkgo Bioworks

A-Score: 4.3/10

Value: 7.8

Growth: 3.3

Quality: 4.3

Yield: 0.0

Momentum: 9.5

Volatility: 1.0

1-Year Total Return ->

Aadi Bioscience

A-Score: 3.9/10

Value: 8.0

Growth: 5.4

Quality: 4.5

Yield: 0.0

Momentum: 3.5

Volatility: 2.0

1-Year Total Return ->

MeiraGTx

A-Score: 3.8/10

Value: 6.0

Growth: 2.6

Quality: 2.6

Yield: 0.0

Momentum: 9.5

Volatility: 2.3

1-Year Total Return ->

Foghorn Therapeutics

A-Score: 3.8/10

Value: 8.0

Growth: 5.4

Quality: 6.0

Yield: 0.0

Momentum: 2.0

Volatility: 1.3

1-Year Total Return ->

Relay Therapeutics

A-Score: 3.6/10

Value: 6.8

Growth: 6.9

Quality: 3.8

Yield: 0.0

Momentum: 2.5

Volatility: 1.7

1-Year Total Return ->

Sutro Biopharma

A-Score: 3.0/10

Value: 9.4

Growth: 2.3

Quality: 4.9

Yield: 0.0

Momentum: 0.5

Volatility: 0.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

22.95%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

10.48%

MeiraGTx Holdings plc - KYG596651029

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MGTX

1.c. Company Highlights

Average Quality

Stable Momentum

Average Growth

Earnings Miss

Revenues Miss

Lower Quality

Lower Growth

Revenues Beats

Medium Volatility

Strong Momentum

Earnings Beats

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.03%)

6. Segments

Retinal Drugs and Gene Therapies

Expected Growth: 9.03%

7. Detailed Products

AAV-RPGR

AAV-CNGB3

AAV-RHO

AAV-ND4

AAV-GAD

AAV-FLT1

8. MeiraGTx Holdings plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: MeiraGTx Holdings plc passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.65$

Current Price

8.65$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA