MGXNasdaqBiological Products, (No Diagnostic Substances)US GAAP · USD

Metagenomi Therapeutics, Inc.

Metagenomi Therapeutics, Inc. is an in vivo genome editing company developing curative genetic medicines using proprietary editing systems discovered from metagenomic science. The company focuses on advancing a small set of higher-probability programs for diseases with well-understood biology, while partnering on selected programs and enabling technologies.

Kysy yhtiöstä
Liikevaihto25,2milj. USD
−51,8 %v/v
Liikevoitto (EBIT)−96,0milj. USD
−8,0 %v/v
EBIT-marginaali−380,9%
−210,9 %-yks.v/v
Nettotulos−87,9milj. USD
−12,6 %v/v
Vapaa kassavirta−89,5milj. USD
+20,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2023–2025

−100−50050100milj. USD2023: 45 milj. USD2023: EBIT −78 milj. USD20232024: 52 milj. USD2024: EBIT −89 milj. USD20242025: 25 milj. USD2025: EBIT −96 milj. USD202525−96
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Metagenomi Therapeutics, Inc.

Liiketoiminta

Osuus liikevaihdosta
Wholly owned genome editing programs0 %

Internal therapeutic programs using the company's signature gene-editing systems for specific disease targets.

Collaborative research and license programs100 %

Partnered programs where the company earns collaboration revenue from research, development, and licensing activities.

Genome editing platform technologies0 %

Proprietary editing tools, discovery capabilities, and enabling technologies used to build future medicines.

Manufacturing and process capabilities0 %

cGMP production of clinical-grade nucleases and mRNA to support internal and collaboration programs.

Asiakkaat

The company’s direct customers are pharmaceutical and biotechnology collaborators that license its genome editing technologies or fund joint research and development. It also serves future patients indirectly through therapeutic development, but it has not yet generated product sales and currently monetizes mainly through collaboration revenue. Strategic partners such as Ionis, Moderna (historically), Affini-T, and technology licensors are central to its business model.

Pharmaceutical collaborators

Large pharma partners that pay for access to genome editing tools, research services, and potential product rights.

Biotechnology partners

Smaller biotech companies that collaborate on discovery and development using the company's editing platforms.

Technology and manufacturing partners

Licensors and CMOs that provide LNP, gRNA, DNA template, and manufacturing support for programs.

Future therapeutic end users

Patients with genetic diseases targeted by the company's in vivo editing programs, once products are approved.

Strategia

Management is prioritizing a narrower set of lead programs with the highest probability of success, focusing on disease areas with clear biology and regulatory paths. The company is also strengthening enabling capabilities, including cGMP manufacturing and selective licensing, to support both wholly owned and partnered development while preserving capital.

Pipeline reprioritizationLyhyt aikaväli

Concentrates resources on programs with the best chance of technical and regulatory success.

Partnership-led developmentKeskipitkä aikaväli

Collaborations provide non-dilutive funding, validation, and access to complementary expertise.

Manufacturing capability buildoutKeskipitkä aikaväli

Internal cGMP capacity reduces dependence on third parties for critical clinical-grade materials.

Maantiede

The company is headquartered in Emeryville, California and operates primarily from the United States. Its business is currently research- and collaboration-driven, so geography matters more through where R&D, manufacturing, and partner activity occur than through product sales. It is expanding a cGMP manufacturing facility in the U.S. and relies on third-party suppliers and collaborators that may be located domestically or internationally.

Riskit

The company faces the typical risks of an early-stage biotech: clinical failure, regulatory delay, and the need for substantial additional capital before any product sales. Its model also depends on collaborators, third-party manufacturers, and strong intellectual property protection, while genome editing adds safety, delivery, and reputational risk if adverse events emerge.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Clinical and regulatory failure1Third-party manufacturing and supply chain3Intellectual property protection4Capital dependence and dilution2Collaboration dependence5Safety and post-approval obligations6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Clinical and regulatory failureVaikutus: KriittinenTodennäköisyys: Kohtalainen

    Programs may not show sufficient safety or efficacy, and approval pathways can be lengthy and uncertain.

    Kohdistuu: Lead genome editing programs and future pipeline assets

  2. Capital dependence and dilutionVaikutus: KorkeaTodennäköisyys: Korkea

    The company has incurred significant losses and expects to need external funding to continue development.

    Kohdistuu: Operating runway and pipeline advancement

  3. Third-party manufacturing and supply chainVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company relies on CMOs and suppliers for gRNA, DNA templates, and future commercial supply.

    Kohdistuu: Clinical and commercial material supply

  4. Intellectual property protectionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Genome editing is highly competitive and difficult to defend without broad, enforceable IP.

    Kohdistuu: Platform technologies and therapeutic candidates

  5. Collaboration dependenceVaikutus: KorkeaTodennäköisyys: Matala

    Revenue and development progress rely on partners that may terminate, slow, or dispute agreements.

    Kohdistuu: Ionis and other collaboration arrangements

  6. Safety and post-approval obligationsVaikutus: KorkeaTodennäköisyys: Matala

    Adverse events could trigger REMS, label restrictions, litigation, or loss of market acceptance.

    Kohdistuu: Any approved genome editing product

Kysy Clarifolta: Metagenomi Therapeutics, Inc.

Kirjanpito

Harkinnanvaraiset erät
Collaboration revenue recognition

Revenue depends on licenses, R&D services, and committee participation under partner contracts.

Vaikutus: Can create uneven quarterly revenue and affect comparability

Stock-based compensation

A common expense for development-stage biotech companies with equity-heavy compensation.

Vaikutus: Increases operating losses without immediate cash outflow

Lease accounting

The company has leased office, laboratory, and vivarium space.

Vaikutus: Creates right-of-use assets and lease liabilities that affect leverage metrics

Deferred tax assets and uncertain tax positions

Future tax benefits depend on eventual profitability and tax law judgments.

Vaikutus: Can lead to valuation allowances and earnings volatility

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Päivitetty: 24.9.2026

Metagenomi Therapeutics, Inc. (MGX) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo