This is a pre-revenue biotech with no near-term catalysts beyond the Q4 2026 IND timeline for MGX-001. The cash runway through Q4 2027 provides a buffer, but the declining cash balance and lack of new partnership revenue suggest continued dilution risk. Monitor for any updates on the Ionis collaboration or additional financing needs.
Price Chart
Executive Summary
Metagenomi Therapeutics reported Q1 2026 financial results, with collaboration revenue of $1.2M (down 70% YoY from $4.1M) and a net loss of -$23.1M (-$0.61 per share), which was slightly better than the -$0.68 loss in Q1 2025. The company highlighted its lead hemophilia A program MGX-001 remains on track for an IND submission in Q4 2026 and a Nature publication on its compact CRISPR nuclease. Cash burn continues, with cash and securities declining to $140.2M from $160.8M at year-end 2025, though runway is expected through Q4 2027.
Key Financial Metrics
Key Facts
- Q1 2026 collaboration revenue of $1.2M, down from $4.1M in Q1 2025
- Net loss of -$23.1M (-$0.61 per share) vs -$25.0M (-$0.68 per share) in Q1 2025
- Cash, cash equivalents, and marketable securities of $140.2M as of March 31, 2026, down from $160.8M at Dec 31, 2025
- MGX-001 hemophilia A program on track for IND submission in Q4 2026
- Publication in Nature Structural & Molecular Biology on compact CRISPR nuclease MG119-28
- R&D expenses decreased to $19.3M from $25.1M YoY
- Cash runway anticipated to support operations through Q4 2027
Financial Impact
Revenue decline of 70% YoY to $1.2M; net loss improved slightly to -$23.1M; cash burn of ~$20.6M in Q1
Risk Factors
- No approved products or near-term revenue stream
- Cash burn rate of ~$20M per quarter may require additional financing before Q4 2027
- MGX-001 is still in preclinical stage with no guarantee of clinical success or regulatory approval
- Collaboration revenue declined 70% YoY, indicating potential partnership uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-216763 |
| Document: mgx-20260511.htm | 0001193125-26-216763 |
| Document: mgx-ex99_2.htm | 0001193125-26-216763 |
| Document: 0001193125-26-216763-index-headers.html | 0001193125-26-216763 |
| Document: 0001193125-26-216763-index.html | 0001193125-26-216763 |
| Document: 0001193125-26-216763.txt | 0001193125-26-216763 |
| 8-K Data (Synthetic) | 0001193125-26-216763 |
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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