MeiraGTx (MGTX) Q2 2026 earnings summary

Executive summary

• Achieved net income of $160.7M for Q2 2026 and $114.4M for H1 2026, driven by non-recurring transactions and major licensing and collaboration deals, compared to net losses in 2025.

• Completed acquisition of botaretigene sparoparvovec (bota-vec) for X-linked retinitis pigmentosa from Janssen/J&J for $25M upfront.

• Secured up to $400M in strategic investment from Oberland Capital, including $100M in royalty notes and $10M equity investment.

• Strengthened leadership with key hires from J&J and Takeda to support commercial transition.

• Advanced riboswitch gene regulation platform, with IND-enabling studies for metabolic and neuropathic pain programs.

Financial highlights

• Total revenue for Q2 2026 was $321.4M, up from $3.7M in Q2 2025, mainly from license and service revenue.

• Net income per share was $1.76 (basic) and $1.71 (diluted) for Q2 2026.

• Cash, cash equivalents, and restricted cash totaled $145.4M as of June 30, 2026.

• R&D expenses for H1 2026 were $89.8M, up from $66.3M in H1 2025, mainly due to reacquisition of bota-vec and increased clinical activity.

• Service revenue-related party and license revenue-related party were $104.9M and $204.6M, respectively.

Outlook and guidance

• Current liquidity, including expected proceeds, is projected to fund operations into the second half of 2028, excluding potential milestone payments from Lilly and further tranches from Oberland Capital.

• Global regulatory filings for bota-vec expected in 2026, with potential U.S. launch in 2027.

• BLA filing for AAV2-hAQP1 anticipated mid-2027, with pivotal Phase 2 data readout in Q2 2027.

• Additional capital will be required for future development and commercialization activities.