Metagenomi(US:MGX) Prnewswire·2024-10-17 09:45Core Viewpoint - Metagenomi, Inc. is facing a class action lawsuit following the termination of its collaboration with Moderna, which was a significant aspect of its initial public offering narrative [2]. Group 1: Company Overview - Metagenomi, Inc. is characterized as a "genetic medicines company" with a prior collaboration with Moderna, a leading Covid-19 vaccine company [2]. - The company completed its initial public offering on February 13, 2024, selling 6.25 million shares at a price of $15 per share [2]. Group 2: Legal Allegations - The lawsuit alleges that Metagenomi misled investors regarding its partnership with Moderna, which was crucial to its business model [2]. - The collaboration agreement with Moderna, established on October 29, 2021, included multiple four-year research programs [2]. - Following the announcement of the termination of the collaboration on May 1, 2024, Metagenomi's stock price fell from $7.04 to $6.17 per share within a day [2]. Group 3: Shareholder Actions - Shareholders who purchased shares during the specified class period are encouraged to register for the class action lawsuit, with a deadline of November 25, 2024, to seek lead plaintiff status [3]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3].