MeiraGTx's GV101 Gets FDA Clearance to Enter Phase 2 for Friedreich's Ataxia
MGTX sits 96% above its 52-week low of $6.62 on light trading volume (0.1× avg).
Summary
The FDA cleared MeiraGTx's IND for GV101, allowing the company to start a Phase 2 trial in Friedreich's ataxia. Enrollment is expected to begin in Q1 2027. This is a new pipeline milestone not previously disclosed, adding a clinical-stage asset to a portfolio that recently secured up to $400 million in funding from Oberland Capital. The extended cash runway into H2 2028 supports advancement of this program.
At the time of this announcement, MGTX was trading at $12.99 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $6.62 to $15.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.