MeiraGTx Gene Therapy Delivers 'Extraordinary' 3-Year Durability for Xerostomia
MGTX has more than doubled off its 52-week low of $4.55.
Summary
MeiraGTx announced positive three-year data from its Phase 1 AQUAx clinical study of AAV-hAQP1 for the treatment of grade 2/3 late radiation-induced xerostomia (RIX). The data demonstrated remarkable maintenance of improvements in patient-reported symptoms and objective measures of saliva flow, with the company highlighting the "extraordinary" durability of the one-time treatment. This long-term positive data for a gene therapy in Phase 1 is highly significant, as it de-risks the asset and underscores its potential as a disease-modifying therapy for a condition with a severe unmet need and no other treatments. This development strengthens the investment thesis for MeiraGTx, a clinical-stage genetic medicines company, and could lead to further stock appreciation, especially as the company is already trading near its 52-week high. Investors will now watch for the progression of AAV-hAQP1 into later-stage clinical trials.
At the time of this announcement, MGTX was trading at $11.40 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $916.3M. The 52-week trading range was $4.55 to $11.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.