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MGX

Metagenomi, Inc. Common Stock

MGX

Metagenomi, Inc. Common Stock • NASDAQ
$1.75 ▲ 3.55% (+0.06)
Market Cap $65.71 M
52w High $4.92
52w Low $1.23
Dividend Yield 0%
P/E -0.73
Volume 203.21K
Outstanding Shares 37.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.659M ▲ $30.174M ▲ $-20.393M ▼ -235.512% ▼ $-0.55 ▼ $-19.303M ▲
Q2-2025 $8.513M ▲ $6.993M ▼ $-19.908M ▲ -233.854% ▲ $-0.54 ▲ $-19.652M ▲
Q1-2025 $4.127M ▼ $31.947M ▲ $-25.039M ▼ -606.712% ▼ $-0.68 ▼ $-26.462M ▼
Q4-2024 $9.614M ▼ $30.237M ▼ $-23.398M ▼ -243.374% ▼ $-0.63 ▼ $-19.162M ▲
Q3-2024 $11.514M $33.897M $-18.773M -163.045% $-0.51 $-21.019M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $184.114M ▼ $247.937M ▼ $69.49M ▼ $178.447M ▼
Q2-2025 $204.993M ▼ $272.284M ▼ $76.453M ▼ $195.831M ▼
Q1-2025 $225.97M ▼ $297.866M ▼ $85.208M ▼ $212.658M ▼
Q4-2024 $248.307M ▼ $324.599M ▼ $89.742M ▼ $234.857M ▼
Q3-2024 $274.587M $358.348M $102.575M $255.773M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-20.393M ▼ $-21.253M ▼ $27.363M ▲ $-187K ▼ $5.923M ▲ $-21.327M ▲
Q2-2025 $-19.908M ▲ $-21.251M ▲ $19.072M ▼ $-166K ▼ $-2.345M ▼ $-21.378M ▲
Q1-2025 $-25.039M ▼ $-22.842M ▲ $24.728M ▼ $-77K ▼ $1.809M ▼ $-23.13M ▲
Q4-2024 $-23.398M ▼ $-26.276M ▲ $28.545M ▲ $0 ▲ $2.269M ▲ $-26.61M ▲
Q3-2024 $-18.773M $-26.638M $-8.934M $-492K $-36.064M $-27.838M

Five-Year Company Overview

Income Statement

Income Statement MGX is still essentially a research-stage company, with only very small revenue, likely from collaborations or grants rather than product sales. The core story in the income statement is steady investment in R&D and operations that translates into recurring losses each year. Those losses have gradually grown as the company scales its science and organization. On the positive side, what little revenue it has comes with high margins, but at this stage that is far less important than the fact that the business is not yet commercially driven and remains dependent on external funding.

Balance Sheet

Balance Sheet The balance sheet shows a modest asset base and, most importantly, a shrinking cash cushion over the past couple of years. Equity has been volatile, moving from positive to negative and back, which reflects accumulated losses and likely capital raises or balance-sheet clean-up around the listing. Debt levels appear relatively small, so the company is not heavily leveraged, but the combination of ongoing losses and a lighter cash position means MGX’s financial flexibility depends on its ability to raise new capital or secure partnering income over time.

Cash Flow

Cash Flow Cash flow trends underline the typical profile of an early-stage biotech: limited inflows and a clear, increasing cash burn from operations. The company moved from slightly positive operating cash flow a few years ago—likely due to upfront payments or one-off items—to more meaningful negative cash flow recently, as R&D and development activities ramped up. Free cash flow is also negative, but capital spending on equipment and facilities is modest, so most cash is going directly into research, people, and development programs rather than large physical assets. This pattern is sustainable only with continued access to outside funding.

Competitive Edge

Competitive Edge Competitively, MGX is trying to stand out in a crowded gene-editing field by focusing on metagenomics—mining the natural world for novel enzymes—and pairing that with AI-driven discovery. This gives it a broad, proprietary “toolbox” that goes beyond standard CRISPR, including smaller nucleases that may be easier to deliver in the body and systems capable of inserting larger genes. Its remaining strategic partnership with Ionis offers external validation and potential future milestones, even after the loss of the Moderna collaboration. The main challenge is that MGX is still preclinical, competing against larger, better-funded gene-editing peers that are already in or near the clinic, so execution and proof-of-concept will be key to strengthening its position.

Innovation and R&D

Innovation and R&D Innovation is MGX’s core strength. The company has built a discovery engine that systematically searches environmental DNA for new editing tools, then uses AI to screen and optimize them. This has led to a wide range of next-generation editors, including compact nucleases, base editors, and systems designed to insert large genetic payloads. Its lead program, MGX-001 for hemophilia A, is a good example of how it aims to use these tools for one-time, potentially curative treatments, with plans to extend the same approach to other diseases involving missing or faulty secreted proteins. Heavy R&D spending and a recent restructuring suggest a shift toward focusing resources on the most advanced and near-term programs, but the scientific and regulatory risks of moving from preclinical models into human trials remain significant.

Summary

Overall, MGX looks like a classic early-stage biotechnology company: scientifically ambitious, pre-revenue, and investing heavily ahead of any commercial payoff. The financial statements reflect this, with recurring losses, a decreasing cash buffer, and a reliance on external capital rather than internally generated funds. On the other hand, the technology platform is differentiated, with a broad and proprietary gene-editing toolkit, a clear lead program in hemophilia A, and a partnership that could broaden its reach into cardiometabolic diseases. The key story going forward will be whether MGX can convert its innovative science into successful clinical milestones fast enough to justify its ongoing cash burn, in an environment where many competitors are racing toward similar goals.

NEWS

November 17, 2025 · 8:00 AM UTC

Metagenomi to Present at Jefferies Global Healthcare Conference in London

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November 11, 2025 · 4:02 PM UTC

Metagenomi Reports Third Quarter 2025 Financial Results and Announces Strategic Pipeline Prioritization and Leadership Updates

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November 11, 2025 · 4:01 PM UTC

Metagenomi Presents New Preclinical Data from MGX-001 Hemophilia A Program Supporting Advancement into Clinical Development

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