Rare Daily Staff
MeiraGTx, which is developing gene therapies to treat diseases of the eye, salivary gland, and central nervous system, raised $75 million through an initial public offering of 5 million shares at $15.
The offering was priced at the midpoint of its expected range of $14 to $16. The shares are trading on Nasdaq under the ticker “MGTX.”
The company said it intends to use the proceeds to advance its pipeline and scale up its manufacturing.
MeiraGTx has four clinical-stage programs, including phase 1/2 clinical stage programs in achromatopsia, X-Linked retinitis pigmentosa, and RPE65-deficiency, and a phase 1 program in radiation induced xerostomia. The company also expects to initiate a fifth clinical program in xerostomia related to Sjogren’s syndrome in 2019 and has preclinical programs in neurodegenerative diseases.
MeiraGTx ended its first day of trading unchanged to close at $15 on volume of more than 2 million shares.
June 8, 2018