$MGTX
MeiraGTx Holdings plc

2024 Q1 Form 10-K Financial Statement

#000155837024003309 Filed on March 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $697.0K $2.040M $14.02M
YoY Change -79.09% -87.19% -11.95%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.15M $12.12M $47.29M
YoY Change 2.94% -73.95% 1.6%
% of Gross Profit
Research & Development $34.32M $33.67M $103.5M
YoY Change 53.76% -60.72% 20.72%
% of Gross Profit
Depreciation & Amortization $3.275M $3.912M $13.73M
YoY Change 5.92% 56.98% 57.4%
% of Gross Profit
Operating Expenses $47.47M $45.79M $151.1M
YoY Change 35.26% -65.38% 14.22%
Operating Profit -$46.77M -$137.1M
YoY Change 47.27% 17.8%
Interest Expense $3.250M $9.362M -$1.496M
YoY Change 6.21% -169.59% -130.25%
% of Operating Profit
Other Income/Expense, Net -$48.00K $399.0K $322.0K
YoY Change -580.0% 106.74% 66.84%
Pretax Income -$20.44M $20.22M -$84.03M
YoY Change -32.68% -115.6% -35.17%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$20.44M $20.22M -$84.03M
YoY Change -32.68% -115.6% -35.17%
Net Earnings / Revenue -2932.86% 990.93% -599.46%
Basic Earnings Per Share -$0.32 -$1.49
Diluted Earnings Per Share -$0.32 $0.32 -$1.49
COMMON SHARES
Basic Shares Outstanding 64.22M 63.60M 56.49M
Diluted Shares Outstanding 64.07M 56.49M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.2M $129.6M $129.6M
YoY Change 73.3% 12.16% 12.16%
Cash & Equivalents $119.2M $129.6M $129.6M
Short-Term Investments
Other Short-Term Assets $932.0K $6.641M $6.641M
YoY Change -40.29% 298.38% -32.23%
Inventory
Prepaid Expenses $5.076M $5.625M
Receivables $10.92M $10.14M $10.14M
Other Receivables $13.17M $13.28M $13.28M
Total Short-Term Assets $149.3M $159.6M $159.6M
YoY Change 22.9% 3.42% 3.42%
LONG-TERM ASSETS
Property, Plant & Equipment $111.4M $156.2M $156.2M
YoY Change -1.04% 42.99% 1.39%
Goodwill
YoY Change
Intangibles $1.038M $1.118M
YoY Change -19.85% -16.25%
Long-Term Investments $6.766M $6.766M $6.766M
YoY Change 6.96% 6.96% 6.96%
Other Assets $1.138M $3.000M $3.000M
YoY Change -20.31% 113.98% 113.98%
Total Long-Term Assets $159.9M $167.1M $167.1M
YoY Change -4.03% 1.97% 1.97%
TOTAL ASSETS
Total Short-Term Assets $149.3M $159.6M $159.6M
Total Long-Term Assets $159.9M $167.1M $167.1M
Total Assets $309.2M $326.7M $326.7M
YoY Change 7.32% 2.67% 2.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.22M $16.04M $16.04M
YoY Change -28.67% -3.45% -3.45%
Accrued Expenses $17.35M $46.83M $46.83M
YoY Change -44.14% 17.62% 7.16%
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 $47.54M $67.08M $67.08M
YoY Change -41.38% -18.27% -18.27%
LONG-TERM LIABILITIES
Long-Term Debt $72.39M $72.12M $72.12M
YoY Change 1.53% 1.53% 1.53%
Other Long-Term Liabilities $67.57M $49.37M $49.37M
YoY Change 49.08% 4.58% 4.58%
Total Long-Term Liabilities $140.0M $121.5M $121.5M
YoY Change 20.01% 2.75% 2.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.54M $67.08M $67.08M
Total Long-Term Liabilities $140.0M $121.5M $121.5M
Total Liabilities $187.5M $188.6M $188.6M
YoY Change -5.26% -5.95% -5.95%
SHAREHOLDERS EQUITY
Retained Earnings -$574.7M -$554.2M
YoY Change 14.8% 17.86%
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 $121.7M $138.2M $138.2M
YoY Change
Total Liabilities & Shareholders Equity $309.2M $326.7M $326.7M
YoY Change 7.32% 2.67% 2.67%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$20.44M $20.22M -$84.03M
YoY Change -32.68% -115.6% -35.17%
Depreciation, Depletion And Amortization $3.275M $3.912M $13.73M
YoY Change 5.92% 56.98% 57.4%
Cash From Operating Activities -$36.70M -$14.55M -$105.4M
YoY Change -1.87% -10.57% 44.14%
INVESTING ACTIVITIES
Capital Expenditures $1.678M $3.030M $20.17M
YoY Change -80.5% -64.32% -55.13%
Acquisitions
YoY Change
Other Investing Activities $29.02M $54.21M $54.21M
YoY Change
Cash From Investing Activities $27.34M $51.18M $34.03M
YoY Change -417.72% -702.66% -175.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $91.96M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.270M 27.71M 84.02M
YoY Change 3.17% 11.59% -11.74%
NET CHANGE
Cash From Operating Activities -36.70M -14.55M -105.4M
Cash From Investing Activities 27.34M 51.18M 34.03M
Cash From Financing Activities -1.270M 27.71M 84.02M
Net Change In Cash -10.63M 64.34M 12.69M
YoY Change -77.5% 86848.65% -155.51%
FREE CASH FLOW
Cash From Operating Activities -$36.70M -$14.55M -$105.4M
Capital Expenditures $1.678M $3.030M $20.17M
Free Cash Flow -$38.38M -$17.58M -$125.5M
YoY Change -16.58% -29.01% 6.33%

Facts In Submission

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CY2023 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1355000
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
4006000
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-7506000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-15920000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-105365000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-73098000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20174000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44963000
CY2023 mgtx Proceeds From Gain On Sale Of Nonfinancial Assets
ProceedsFromGainOnSaleOfNonfinancialAssets
54208000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
34034000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-44963000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
231000
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1519000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2774000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
91950000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000000
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
75000000
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
6418000
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2257000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
84023000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
95200000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
12692000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-22861000
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2441000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
674000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115516000
CY2023 us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
2607000
CY2022 us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
7106000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1793000
CY2022 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
9000
CY2022 mgtx Issuance Of Shares In Connection With Notes Payable
IssuanceOfSharesInConnectionWithNotesPayable
2273000
CY2023 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
209000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
13054000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
329000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-554200000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-105400000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130600000
CY2023 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, fair value of nonfinancial assets, stand-alone selling price and material rights in connection with the Asset Purchase and Commercial Supply Agreements, the accounting for research and development costs, share-based compensation, leases, asset retirement obligations, fair value of financial instruments and tax incentive receivable. </p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
129566000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
115516000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1083000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130649000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115516000
CY2023 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 0pt 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 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 18pt;">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>
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2179000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2081000
CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
9000
CY2023 mgtx Amortization Of Interest On Asset Retirement Obligation
AmortizationOfInterestOnAssetRetirementObligation
177000
CY2022 mgtx Amortization Of Interest On Asset Retirement Obligation
AmortizationOfInterestOnAssetRetirementObligation
168000
CY2023 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
45000
CY2022 us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-79000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2401000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2179000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2000000.0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
900000
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11772957
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9864958
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
157356000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
156170000
CY2022Q4 mgtx Accrued Liabilities Accrued Compensation And Benefits
AccruedLiabilitiesAccruedCompensationAndBenefits
4326000
CY2023Q4 mgtx Accrued Expenses Incurred In Connection With Fixed Assets
AccruedExpensesIncurredInConnectionWithFixedAssets
2104000
CY2023Q4 us-gaap Equity Method Investment Quoted Market Value
EquityMethodInvestmentQuotedMarketValue
6766000
CY2023Q4 us-gaap Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
6665000
CY2023Q4 mgtx Prepaid Clinical Trial Cost
PrepaidClinicalTrialCost
1530000
CY2022Q4 mgtx Prepaid Clinical Trial Cost
PrepaidClinicalTrialCost
3411000
CY2023Q4 mgtx Prepaid Dues And License Fees
PrepaidDuesAndLicenseFees
1439000
CY2022Q4 mgtx Prepaid Dues And License Fees
PrepaidDuesAndLicenseFees
909000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
861000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1485000
CY2023Q4 mgtx Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
685000
CY2022Q4 mgtx Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
1220000
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
630000
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
539000
CY2023Q4 mgtx Prepaid Consulting Fees
PrepaidConsultingFees
243000
CY2023Q4 mgtx Prepaid Manufacturing Costs Current
PrepaidManufacturingCostsCurrent
38000
CY2022Q4 mgtx Prepaid Manufacturing Costs Current
PrepaidManufacturingCostsCurrent
347000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
199000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
222000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5625000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8133000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
149221000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
129659000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33325000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20393000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
115896000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109266000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
12300000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7300000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
285000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
285000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
285000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
263000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1118000
CY2023Q4 mgtx Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
12129000
CY2022Q4 mgtx Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
9600000
CY2023Q4 mgtx Accrued Research And Development
AccruedResearchAndDevelopment
8713000
CY2022Q4 mgtx Accrued Research And Development
AccruedResearchAndDevelopment
13041000
CY2023Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
6499000
CY2022Q4 us-gaap Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
732000
CY2023Q4 mgtx Accrued Liabilities Accrued Manufacturing Costs Expense
AccruedLiabilitiesAccruedManufacturingCostsExpense
5834000
CY2022Q4 mgtx Accrued Liabilities Accrued Manufacturing Costs Expense
AccruedLiabilitiesAccruedManufacturingCostsExpense
7400000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2936000
CY2023Q4 mgtx Accrued Liabilities Accrued Compensation And Benefits
AccruedLiabilitiesAccruedCompensationAndBenefits
2634000
CY2022Q4 mgtx Accrued Expenses Incurred In Connection With Fixed Assets
AccruedExpensesIncurredInConnectionWithFixedAssets
694000
CY2023Q4 mgtx Accrued Consulting Expenses
AccruedConsultingExpenses
1472000
CY2022Q4 mgtx Accrued Consulting Expenses
AccruedConsultingExpenses
3093000
CY2023Q4 mgtx Accrued Expenses Incurred In Connection With Rent And Facility Costs
AccruedExpensesIncurredInConnectionWithRentAndFacilityCosts
142000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
176000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
932000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
42639000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
39818000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6858409
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
P6Y10M9D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1546840
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.49
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3864
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.64
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
174678
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.95
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8226707
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.96
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5709190
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.30
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y4M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8226707
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.96
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y4M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2262
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2228
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
15300000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
16200000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.67
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
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y8M12D
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
70650000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
74350000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27716000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28623000
mgtx Excess Tax Benefit From Share Based Compensation Operating Activities1
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities1
0
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-84027000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-129615000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9661000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-25955000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9661000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
25955000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
19606000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
16288000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
14290000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13684000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
21687000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
10837000
CY2023Q4 mgtx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
4070000
CY2022Q4 mgtx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
6461000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1121000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3745000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
131424000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
125365000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
186000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1763000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2935000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
3777000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
6207000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
125884000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
116223000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
186000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
937000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
666000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
756000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
279000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
336000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2029000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
937000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
5500000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
5300000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1124000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1103000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
1124000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1104000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
5473000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
5307000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
159000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
154000
CY2023 us-gaap Lease Cost
LeaseCost
6756000
CY2022 us-gaap Lease Cost
LeaseCost
6565000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15910000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20109000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17145000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21215000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
24432000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
24718000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P174Y9M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P175Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.088
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.088
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
52000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
5662000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5384000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1793000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5565000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5524000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5623000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1626000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1335000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
706000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20379000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3234000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17145000
CY2023Q4 mgtx Number Of New Material Commitments
NumberOfNewMaterialCommitments
0
CY2023 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2500000
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2000000.0
CY2023 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001558370-24-003309-index-headers.html Edgar Link pending
0001558370-24-003309-index.html Edgar Link pending
0001558370-24-003309.txt Edgar Link pending
0001558370-24-003309-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mgtx-20231231.xsd Edgar Link pending
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