Metagenomi, Inc. Reports 2024 Financial Results and Pipeline Progress

Metagenomi, Inc. ( (MGX) ) has released its Q4 earnings. Here is a breakdown of the information Metagenomi, Inc. presented to its investors.

Metagenomi, Inc. is a precision genetic medicines company utilizing its AI-driven metagenomics platform to develop curative therapeutics for genetic diseases. In its latest earnings report, Metagenomi highlighted significant progress in its pipeline, particularly in the development of MGX-001 for hemophilia A and advancements in cardiometabolic indications through its collaboration with Ionis. The company reported a strong cash position of $248.3 million, which is expected to support its operations into 2027. Key achievements include the sustained Factor VIII activity in a nonhuman primate study for hemophilia A and proof-of-concept in secreted protein deficiencies. Metagenomi’s financial results for 2024 showed increased R&D and G&A expenses compared to the previous year, with a net loss of $78.1 million. Looking ahead, Metagenomi plans to continue advancing its programs with anticipated regulatory submissions and development candidate nominations in the coming years.