2023 Q1 Form 10-K Financial Statement

#000155837023003674 Filed on March 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.334M $15.92M $15.92M
YoY Change -40.81% -24.35% -57.77%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.77M $46.55M $46.55M
YoY Change 13.35% 199.34% 6.36%
% of Gross Profit
Research & Development $22.32M $85.73M $85.73M
YoY Change -3.36% 529.59% 27.7%
% of Gross Profit
Depreciation & Amortization $3.092M $2.492M $8.723M
YoY Change 45.99% 20.85% 10.8%
% of Gross Profit
Operating Expenses $35.09M $132.3M $132.3M
YoY Change 2.12% 353.51% 19.28%
Operating Profit -$31.76M -$116.4M
YoY Change 10.53% 58.97%
Interest Expense $3.060M -$13.45M $4.946M
YoY Change 3874.03% 667.87% 1617.36%
% of Operating Profit
Other Income/Expense, Net $10.00K $193.0K $193.0K
YoY Change -97.18% -636.11% -230.41%
Pretax Income -$30.36M -$129.6M -$129.6M
YoY Change -2.19% 1207.66% 62.91%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$30.36M -$129.6M -$129.6M
YoY Change -2.19% 1207.66% 62.91%
Net Earnings / Revenue -910.74% -814.16% -814.16%
Basic Earnings Per Share -$0.62 -$2.87
Diluted Earnings Per Share -$0.62 -$2.87 -$2.87
COMMON SHARES
Basic Shares Outstanding 48.67M 44.73M 45.18M
Diluted Shares Outstanding 48.64M 45.18M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.78M $115.5M $115.5M
YoY Change -39.55% -16.11% -16.11%
Cash & Equivalents $68.78M $115.5M $115.5M
Short-Term Investments
Other Short-Term Assets $1.561M $1.667M $9.800M
YoY Change -21.32% -31.12% -6.86%
Inventory
Prepaid Expenses $6.981M $8.133M
Receivables $36.30M $21.33M $21.33M
Other Receivables $7.857M $7.689M $7.689M
Total Short-Term Assets $121.5M $154.3M $154.3M
YoY Change -15.0% -15.77% -15.77%
LONG-TERM ASSETS
Property, Plant & Equipment $112.6M $109.3M $154.1M
YoY Change 33.91% 44.04% 22.02%
Goodwill
YoY Change
Intangibles $1.295M $1.335M
YoY Change -22.36% -25.46%
Long-Term Investments $6.326M $6.326M $6.326M
YoY Change -4.96% -4.96% -4.96%
Other Assets $1.428M $1.402M $1.402M
YoY Change -11.25% -0.14% -0.14%
Total Long-Term Assets $166.7M $163.9M $163.9M
YoY Change 15.12% 19.7% 19.7%
TOTAL ASSETS
Total Short-Term Assets $121.5M $154.3M $154.3M
Total Long-Term Assets $166.7M $163.9M $163.9M
Total Assets $288.1M $318.2M $318.2M
YoY Change 0.16% -0.6% -0.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.76M $16.62M $16.62M
YoY Change 60.86% 8.26% 8.26%
Accrued Expenses $31.07M $39.82M $43.70M
YoY Change 34.02% 44.34% 41.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $81.10M $82.07M $82.07M
YoY Change 23.82% 20.47% 20.47%
LONG-TERM LIABILITIES
Long-Term Debt $71.30M $71.03M $71.03M
YoY Change
Other Long-Term Liabilities $45.32M $47.21M $47.21M
YoY Change -25.35% -28.95% -28.95%
Total Long-Term Liabilities $116.6M $118.2M $118.2M
YoY Change 92.09% 77.97% 77.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.10M $82.07M $82.07M
Total Long-Term Liabilities $116.6M $118.2M $118.2M
Total Liabilities $197.9M $200.5M $200.5M
YoY Change 56.57% 48.78% 48.78%
SHAREHOLDERS EQUITY
Retained Earnings -$500.6M -$470.2M
YoY Change 34.71% 38.05%
Common Stock $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.22M $117.7M $117.7M
YoY Change
Total Liabilities & Shareholders Equity $288.1M $318.2M $318.2M
YoY Change 0.16% -0.6% -0.6%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$30.36M -$129.6M -$129.6M
YoY Change -2.19% 1207.66% 62.91%
Depreciation, Depletion And Amortization $3.092M $2.492M $8.723M
YoY Change 45.99% 20.85% 10.8%
Cash From Operating Activities -$37.40M -$16.27M -$73.10M
YoY Change 350.6% -186.4% 596.19%
INVESTING ACTIVITIES
Capital Expenditures $8.605M $8.492M $44.96M
YoY Change -30.94% -134.85% -2.99%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$8.605M -$8.492M -$44.96M
YoY Change -30.94% -66.53% -27.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.231M 24.83M 95.20M
YoY Change -52.32% 1817.61% 5473.77%
NET CHANGE
Cash From Operating Activities -37.40M -16.27M -73.10M
Cash From Investing Activities -8.605M -8.492M -44.96M
Cash From Financing Activities -1.231M 24.83M 95.20M
Net Change In Cash -47.24M 74.00K -22.86M
YoY Change 102.36% -101.41% -67.57%
FREE CASH FLOW
Cash From Operating Activities -$37.40M -$16.27M -$73.10M
Capital Expenditures $8.605M $8.492M $44.96M
Free Cash Flow -$46.01M -$24.76M -$118.1M
YoY Change 121.6% -157.32% 107.67%

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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44963000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 mgtx Payments For Right Of Use Asset
PaymentsForRightOfUseAsset
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CY2021 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
231000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2022 mgtx Adjustments To Additional Paid In Capital Taxes Withheld On Issuance Of Share Based Awards
AdjustmentsToAdditionalPaidInCapitalTaxesWithheldOnIssuanceOfShareBasedAwards
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CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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CY2022 mgtx Proceeds From Issuance Of Ordinary Shares
ProceedsFromIssuanceOfOrdinaryShares
25000000
CY2022 mgtx Issuance Of Note Payable
IssuanceOfNotePayable
75000000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
95200000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1708000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
674000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1278000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
137703000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
209520000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115516000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
137703000
CY2021 mgtx Issuances Of Shares In Connection With Equity Method And Other Investments
IssuancesOfSharesInConnectionWithEquityMethodAndOtherInvestments
1165000
CY2022 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
7106000
CY2021 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
7178000
CY2022 mgtx Right Of Use Assets Obtained In Exchange For Lease Liabilities
RightOfUseAssetsObtainedInExchangeForLeaseLiabilities
-1793000
CY2021 mgtx Right Of Use Assets Obtained In Exchange For Lease Liabilities
RightOfUseAssetsObtainedInExchangeForLeaseLiabilities
-4424000
CY2022 mgtx Asset Retirement Obligations Incurred In Connection With Leases Non Cash
AssetRetirementObligationsIncurredInConnectionWithLeasesNonCash
9000
CY2021 mgtx Asset Retirement Obligations Incurred In Connection With Leases Non Cash
AssetRetirementObligationsIncurredInConnectionWithLeasesNonCash
120000
CY2022 mgtx Warrants Issued In Connection With Note Payable Cashflow Effect
WarrantsIssuedInConnectionWithNotePayableCashflowEffect
2273000
CY2021 mgtx Issuance Of Shares In Connection With Asset Acquisition Non Cash
IssuanceOfSharesInConnectionWithAssetAcquisitionNonCash
519000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
329000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
139000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-470200000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-73100000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115500000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 18pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these consolidated financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. In preparing these consolidated financial statements, management used significant estimates in the following areas, among others: collaboration revenue, the accounting for research and development costs, share-based compensation, leases, asset retirement obligations, fair value of financial instruments and tax incentive receivable. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">Additionally, the Company has made estimates of the impact of the COVID-19 pandemic within the consolidated financial statements and there may be changes to those estimates in future periods. Actual results may differ from these estimates.</p>
CY2022Q4 mgtx Prepaid Dues And License Fees
PrepaidDuesAndLicenseFees
909000
CY2021Q4 mgtx Prepaid Dues And License Fees
PrepaidDuesAndLicenseFees
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CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
539000
CY2021Q4 us-gaap Prepaid Rent
PrepaidRent
455000
CY2022Q4 mgtx Prepaid Manufacturing Costs Current
PrepaidManufacturingCostsCurrent
347000
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 18pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">The Company maintains its cash and cash equivalents primarily in depository and money market accounts within two large financial institutions in the United States and one large financial institution in the United Kingdom and Ireland.  Cash balances deposited at these major financial banking institutions exceed the insured limit. The Company has not experienced any losses on its bank deposits and believes these deposits do not expose the Company to any significant credit risk.</p>
CY2021Q4 mgtx Prepaid Manufacturing Costs Current
PrepaidManufacturingCostsCurrent
624000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
222000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
403000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8133000
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8102000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3339000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2081000
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1814000
CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
9000
CY2021 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
120000
CY2022 mgtx Amortization Of Interest On Asset Retirement Obligation
AmortizationOfInterestOnAssetRetirementObligation
168000
CY2021 mgtx Amortization Of Interest On Asset Retirement Obligation
AmortizationOfInterestOnAssetRetirementObligation
148000
CY2022 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-79000
CY2021 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-1000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2179000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2081000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1492400
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
18.54
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.53
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
531600
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
17.52
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
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CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.03
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4547271
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
6326000
CY2022Q4 mgtx Long Term Investments Cost Basis
LongTermInvestmentsCostBasis
6665000
CY2022Q4 mgtx Prepaid Clinical Trial Cost
PrepaidClinicalTrialCost
3411000
CY2021Q4 mgtx Prepaid Clinical Trial Cost
PrepaidClinicalTrialCost
2322000
CY2022Q4 mgtx Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
1220000
CY2021Q4 mgtx Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
991000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1485000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2122000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
129659000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
90339000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20393000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14479000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109266000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75860000
CY2019Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
3900000
CY2022 mgtx Asset Retirement Obligations Discounted Rate
AssetRetirementObligationsDiscountedRate
0.08
CY2022 us-gaap Depreciation
Depreciation
7300000
CY2021 us-gaap Depreciation
Depreciation
6300000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
272000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
272000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
272000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
272000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
247000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1335000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.18
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1819
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1810
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
16200000
CY2022Q4 mgtx Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
13041000
CY2021Q4 mgtx Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
12524000
CY2022Q4 mgtx Accrued Liabilities Accrued Compensation And Benefits
AccruedLiabilitiesAccruedCompensationAndBenefits
9600000
CY2021Q4 mgtx Accrued Liabilities Accrued Compensation And Benefits
AccruedLiabilitiesAccruedCompensationAndBenefits
6029000
CY2022Q4 mgtx Accrued Research And Development
AccruedResearchAndDevelopment
7400000
CY2021Q4 mgtx Accrued Research And Development
AccruedResearchAndDevelopment
1735000
CY2022Q4 mgtx Accrued Liabilities Accrued Manufacturing Costs Expense
AccruedLiabilitiesAccruedManufacturingCostsExpense
4326000
CY2021Q4 mgtx Accrued Liabilities Accrued Manufacturing Costs Expense
AccruedLiabilitiesAccruedManufacturingCostsExpense
2889000
CY2022Q4 mgtx Accrued Expenses Incurred In Connection With Fixed Assets
AccruedExpensesIncurredInConnectionWithFixedAssets
3093000
CY2021Q4 mgtx Accrued Expenses Incurred In Connection With Fixed Assets
AccruedExpensesIncurredInConnectionWithFixedAssets
2077000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
732000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1018000
CY2022Q4 mgtx Accrued Consulting Expenses
AccruedConsultingExpenses
694000
CY2021Q4 mgtx Accrued Consulting Expenses
AccruedConsultingExpenses
858000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
932000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
456000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
39818000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27586000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4824771
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.85
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1667700
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.53
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.16
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
381143
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
12.22
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.16
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
14400000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.81
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.44
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28623000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20784000
mgtx Excess Tax Benefit From Share Based Compensation Operating Activities1
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities1
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
196000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2935000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
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CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
800000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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25955000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
36957000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
74007000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
16288000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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13684000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
10314000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
10837000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
7498000
CY2022Q4 mgtx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
6461000
CY2021Q4 mgtx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
7040000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3745000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1481000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
125365000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
100340000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
186000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
6207000
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
6733000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
116223000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
90268000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
186000
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
196000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
666000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
513000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
279000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
165000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
12000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
937000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
666000
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
5300000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
5000000.0
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1103000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1227000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000
CY2022 mgtx Finance Lease Cost
FinanceLeaseCost
1104000
CY2021 mgtx Finance Lease Cost
FinanceLeaseCost
1229000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
5307000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
5002000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
154000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
751000
CY2022 us-gaap Lease Cost
LeaseCost
6565000
CY2021 us-gaap Lease Cost
LeaseCost
6982000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20109000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22782000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21215000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23721000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
24718000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
27645000
CY2021Q4 mgtx Capitalized Lease Obligations
CapitalizedLeaseObligations
12000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P175Y9M18D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P176Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.088
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
52000
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
16000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5384000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
4969000
CY2021 mgtx Finance Lease Payments
FinanceLeasePayments
2000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1793000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4424000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5513000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5379000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5338000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5067000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1794000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2872000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
25963000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4748000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21215000
CY2022Q4 mgtx Number Of New Material Commitments
NumberOfNewMaterialCommitments
0
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2000000.0
CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1800000

Files In Submission

Name View Source Status
mgtx-20221231_cal.xml Edgar Link unprocessable
mgtx-20221231_pre.xml Edgar Link unprocessable
mgtx-20221231_def.xml Edgar Link unprocessable
mgtx-20221231_lab.xml Edgar Link unprocessable
0001558370-23-003674-index-headers.html Edgar Link pending
0001558370-23-003674-index.html Edgar Link pending
0001558370-23-003674.txt Edgar Link pending
0001558370-23-003674-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mgtx-20221231.xsd Edgar Link pending
mgtx-20221231x10k.htm Edgar Link pending
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mgtx-20221231x10k_htm.xml Edgar Link completed
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