Metagenomi Therapeutics (MGX) Q4 2025 earnings summary

Executive summary

• Advanced core genome-editing technologies and sharpened strategic focus, highlighted by a corporate rebranding to reflect a clearer mission and identity.

• Achieved significant progress in pipeline and collaborations, reinforcing technology versatility and differentiation.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $160.8 million as of December 31, 2025, supporting operations through 4Q 2027.

• Research and development expenses were $94.4 million for 2025, down from $109.2 million in 2024.

• General and administrative expenses were $26.8 million for 2025, down from $32.0 million in 2024.

• Collaboration revenue was $25.2 million in 2025, compared to $52.3 million in 2024.

• Net loss for 2025 was $87.9 million, compared to $78.1 million in 2024.

Outlook and guidance

• On track for global regulatory submission, including IND for MGX-001 in 4Q 2026, with clinical trials expected to initiate in 2027 pending regulatory clearance.

• Anticipates cash runway to support operations through the fourth quarter of 2027.