BUZZ-MeiraGTx climbs as Sanofi makes $30 million investment

Dow Jones Industrial Average -0.16%
S&P 500 index -0.38%
MEIRAGTX HOLDINGS PLC +0.69% Pre
NASDAQ -0.13%

MEIRAGTX HOLDINGS PLC

MGTX

5.84

5.84

+0.69%

0.00% Pre

Dow Jones Industrial Average

DJI

39069.23

-0.16%

S&P 500 index

SPX

5069.53

-0.38%

NASDAQ

IXIC

15976.25

-0.13%

** MeiraGTx Holdings PLC's shares MGTX.O rise 24% to $4.6 premarket

** Drug developer says Sanofi SASY.PA has made a $30 mln strategic investment in co through the purchase of 4 mln shares at $7.5 apiece

** MGTX says it is being approached by multiple parties with strategic interest in different assets and is actively pursuing these options

** Sanofi to receive right of first negotiation for the use of MGTX's gene regulation technology for certain Immunology and Inflammation and Central Nervous System (CNS) targets

** Sanofi will also get the right of first negotiation for MGTX's mid-phase Xerostomia program

** Evercore Group is serving as financial advisor for MGTX

** Up to Friday's close, stock down ~43% YTD


(Reporting by Khushi Mandowara in Bengaluru)

((Khushi.Mandowara@thomsonreuters.com;))

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