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MeiraGTx Holdings plc (NASDAQ:MGTX) announced Thursday that it has received all necessary clearances and approvals under the United Kingdom (TADAWUL:4280)’s foreign direct investment laws for its proposed transactions with Hologen Limited. The company stated that the transactions, which were initially entered into on March 9, 2025, are expected to close in July 2025. The news comes as MGTX shares have shown strong momentum, delivering a 55% return over the past year, with the stock currently trading at $6.54.
The announcement was made in a press release statement included in a filing with the U.S. Securities and Exchange Commission. No additional details regarding the terms or structure of the transactions were provided in the filing. According to InvestingPro data, while the company is not currently profitable, analysts expect it to achieve profitability this year. InvestingPro subscribers have access to 8 additional key insights about MGTX’s financial health and growth prospects.
MeiraGTx, which is incorporated in the Cayman Islands and headquartered in New York, operates in the biological products sector. Its ordinary shares are listed on the Nasdaq Global Select Market under the ticker MGTX.
The company noted that the information pertains to regulatory approvals and the anticipated timing of the transaction’s closing. This report is based solely on the statement provided in the SEC filing.
In other recent news, MeiraGTx Holdings plc announced that its gene therapy product AAV-GAD has received Regenerative Medicine Advanced Therapy (RMAT) designation from the U.S. Food and Drug Administration for treating Parkinson’s disease. This designation is based on positive outcomes from three clinical studies and aims to expedite the development of promising therapies. MeiraGTx’s CEO, Dr. Alexandria Forbes, highlighted the therapy’s potential benefits in improving motor function and other symptoms in patients with Parkinson’s disease. Additionally, MeiraGTx Holdings has signed a new lease for expanded laboratory and office space in New York City, as stated in a recent 8-K filing. The lease covers approximately 14,235 square feet and includes a rent-free period and construction contributions from the landlord. The company plans to terminate an existing sublease with ImClone Systems, LLC, effective around August 31, 2025. This strategic move is intended to support the company’s growth and operations.
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