MeiraGTx Announces $50M Milestone From Janssen Pharmaceuticals
Portfolio Pulse from Benzinga Newsdesk
MeiraGTx Holdings plc (MGTX) announced a $50M milestone payment from Janssen Pharmaceuticals (J&J) for initiating the LUMEOS extension study related to bota-vec for XLRP treatment. MGTX expects an additional $15M in milestone payments in 2024 and up to $285M upon first commercial sales in the U.S. and EU, plus revenue from a commercial supply agreement for bota-vec manufacturing with J&J.
February 13, 2024 | 1:09 pm
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MeiraGTx Holdings plc announced receiving a $50M milestone payment from Janssen Pharmaceuticals for the LUMEOS extension study of bota-vec, with more payments expected.
The $50M milestone payment, along with anticipated additional payments, signifies a strong partnership and financial inflow for MGTX, likely boosting investor confidence and potentially the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Janssen Pharmaceuticals, a Johnson & Johnson company, made a $50M milestone payment to MeiraGTx for the LUMEOS extension study of bota-vec, with further financial commitments outlined.
While the payment is a significant commitment from JNJ to MGTX and the development of bota-vec, the financial impact on JNJ is likely to be minimal in the short term due to its large size and diversified portfolio.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80