Financial Performance - As of March 31, 2025, Metagenomi reported cash, cash equivalents, and available-for-sale marketable securities of $226.0 million, expected to support operations into 2027[1][9] - Research and development (R&D) expenses for Q1 2025 were $25.1 million, a decrease from $31.4 million in the same period of 2024, representing a reduction of approximately 20.5%[9][10] - General and administrative (G&A) expenses for Q1 2025 were $6.8 million, down from $8.8 million in Q1 2024, indicating a decrease of approximately 22.7%[10] - Collaboration revenue for Q1 2025 was reported at $4.1 million, a significant decrease from $11.2 million in Q1 2024[20] - The net loss for Q1 2025 was $25.0 million, slightly improved from a net loss of $25.1 million in Q1 2024[20] Research and Development - The nonhuman primate (NHP) study for the Hemophilia A program showed FVIII activity levels of 80%, 10%, and 32% in three animals at the 19-month mark, correlating with gene integration frequencies of 5.3%, 0.89%, and 2.5% respectively[3] - The mean FVIII activity during months 12-19 post lipid nanoparticle dosing was 75%, with individual results of 8% and 29% for two of the animals[3] - The company plans to leverage findings from the NHP study to inform the strategy for the MGX-001 program moving forward[2] Technological Advancements - Metagenomi's AI-driven metagenomics platform has analyzed over 7.4 billion proteins, enhancing its gene editing capabilities[13] - The company anticipates additional advancements in its compact CRISPR-associated transposase (CAST) systems for clinical applications in 2025[7]
Metagenomi(MGX) - 2025 Q1 - Quarterly Results