MeiraGTx rises on collaboration with Hologen to develop Parkinson's disease therapy

Gene therapy company MeiraGTx Holdings' shares MGTX.O rise 30.3% to $8.36 - highest since June 2023

MGTX says it will collaborate with Hologen to form a joint venture called Hologen Neuro AI to develop experimental gene therapy AAV-GAD to treat Parkinson's disease

Parkinson's disease is a brain condition that causes problems with movement, mental health, sleep, pain and other health issues

MGTX will receive $200 million in upfront payment for the venture and $230 million to develop the gene therapy AAV-GAD, which is currently in late-stage development

MGTX says it will retain 30% ownership in the joint venture and will lead all clinical development and manufacturing

Separately, MGTX posts 2024 revenue of $33.28 mln, compared to $14.02 mln a year earlier

Up to last close, MGTX had risen 5.6% in the past 12 months