The significant drop in collaboration revenue is a major concern, but the reduction in R&D and G&A expenses shows cost discipline. The strong cash runway through Q4 2027 provides financial stability for clinical development. Traders should monitor the progress of the MGX-001 program towards its planned IND submission in Q4 2026, as this is the key upcoming catalyst.
Price Chart
Executive Summary
Metagenomi Therapeutics reported its 2025 financial results, highlighting a preclinical data milestone for its hemophilia A program (MGX-001) and a corporate rebranding. Despite a 51.7% decline in collaboration revenue, the company maintains a strong cash position of $160.8 million, providing runway through Q4 2027. The stock is currently trading at $60M market cap.
Key Financial Metrics
Key Facts
- Completed pre-IND meeting for MGX-001 hemophilia A program with positive preclinical data in non-human primates.
- Announced corporate name change to Metagenomi Therapeutics, Inc. to reflect strategic evolution.
- Cash, cash equivalents, and marketable securities were $160.8 million as of December 31, 2025, down from $248.3 million in 2024.
- Collaboration revenue declined 51.7% YoY to $25.2 million in 2025 from $52.3 million in 2024.
- R&D expenses decreased to $94.4 million in 2025 from $109.2 million in 2024.
- G&A expenses decreased to $26.8 million in 2025 from $32.0 million in 2024.
- Net loss was $87.9 million in 2025 compared to $78.1 million in 2024.
- Net loss per share was $2.36 in 2025, unchanged from 2024.
Financial Impact
Collaboration revenue declined by $27.1 million (51.7%) YoY, while R&D and G&A expenses decreased by $14.8 million and $5.2 million respectively. Net loss increased by $9.8 million.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Collaboration | $25.2M | -51.7% |
Risk Factors
- Significant decline in collaboration revenue, which could impact future funding and partnerships.
- Increased net loss despite lower operating expenses, indicating ongoing financial challenges.
- Dependence on successful clinical development of MGX-001, which carries inherent biotech development risks.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-093943 |
| Document: mgx-20260305.htm | 0001193125-26-093943 |
| Document: 0001193125-26-093943-index-headers.html | 0001193125-26-093943 |
| Document: 0001193125-26-093943-index.html | 0001193125-26-093943 |
| Document: 0001193125-26-093943.txt | 0001193125-26-093943 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 21, 2026 5w ago | 8-K | $1.14 $0.8310 | ▼ −27.11% | ▼ −26.55% | $0.8000 (−29.82%) |
Aug 10, 2026 11w ago | 8-K | $1.21 $1.15 | ▲ +4.96% | ▲ +3.90% | $0.8000 (+33.88%) |
Jun 10, 2026 19w ago | Insider Cluster | $1.23 $1.26 | ▲ +2.44% | ▼ −1.18% | $0.8000 (−34.96%) |
Jun 10, 2026 19w ago | Insider Cluster | $1.23 $1.26 | ▲ +2.44% | ▼ −1.18% | $0.8000 (−34.96%) |
Jun 10, 2026 19w ago | Insider Cluster | $1.23 $1.26 | ▲ +2.44% | ▼ −1.18% | $0.8000 (−34.96%) |
Jun 10, 2026 19w ago | Insider Cluster | $1.23 $1.26 | ▲ +2.44% | ▼ −1.18% | $0.8000 (−34.96%) |
Jun 10, 2026 19w ago | Insider Cluster | $1.23 $1.26 | ▲ +2.44% | ▼ −1.18% | $0.8000 (−34.96%) |
May 11, 2026 24w ago | 8-K | $1.35 $1.23 | ▼ −8.89% | ▼ −7.16% | $0.8000 (−40.74%) |
May 11, 2026 24w ago | Press Release | $1.35 $1.23 | ▲ +8.89% | ▲ +7.16% | $0.8000 (+40.74%) |
Apr 27, 2026 26w ago | DEFA14A | $1.44 $1.36 | ▼ −5.56% | ▼ −11.02% | $0.8000 (−44.44%) |
US Market Status
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