MGTXMeiraGTx Holdings plc
Biological Products, (no Diagnostic Substances)
- Revenue
- $81M
- 145% YoY
- Operating margin
- -130.2%
- 74% YoY
- EBITDA
- −$93M
- 38% YoY
- Market cap
- $894M
- Employees
- 500,000
- $163 revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 2.9
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes27% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$163 · 5th pctBottom quartile of its SIC industry
- Quiet on AINo2.9 per 10K words · 68th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$894M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo−$5M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $38M | $16M | $14M | $33M | $81M | 145% |
| Operating income | −$73M | −$116M | −$137M | −$164M | −$106M | 35% |
| Net income | −$80M | −$130M | −$84M | −$148M | −$114M | 23% |
| Operating cash flow | −$11M | −$73M | −$105M | −$104M | −$46M | 56% |
| Capex | $46M | $45M | $20M | $5M | $4M | 23% |
| Stock-based comp | $21M | $29M | $28M | $25M | $22M | 12% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Apr 24, 2026 | PERCEPTIVE ADVISORS LLC | SCHEDULE 13D/A | 38.1% | Active |
| Jan 2, 2026 | PERCEPTIVE ADVISORS LLC | SCHEDULE 13D/A | 12.9% | Passive |
| Aug 14, 2024 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 16.4% | Passive |
| Feb 14, 2024 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 35.8% | Passive |
| May 16, 2023 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 19.1% | Passive |
| Nov 24, 2020 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 32.1% | Passive |
| Aug 20, 2019 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 17.6% | Passive |
| Mar 5, 2019 | PERCEPTIVE ADVISORS LLC | SC 13D/A | 18.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $5M · 10
- Net
- −$5M
Pay vs performance
No pay-versus-performance disclosure yet.