Metagenomi Therapeutics (MGX) Registration Filing summary

Company overview and business model

• Precision genetic medicines company developing curative therapeutics using a proprietary genome editing toolbox, leveraging metagenomics, AI, and proprietary algorithms to discover novel CRISPR nucleases and other editing enzymes.

• Toolbox includes programmable nucleases, base editors, small and large gene integration systems, and ultra-small editing systems for broad therapeutic applications.

• Focus on in vivo gene editing for internal pipeline and out-licensing for ex vivo cell therapy; targeting a range of diseases and organs including liver, CNS, muscle, kidney, and lung.

• All platform elements are wholly owned and protected by a broad patent estate.

• Company operates as an emerging growth and smaller reporting company, utilizing reduced disclosure and compliance requirements.

Financial performance and metrics

• As of December 31, 2024, net tangible book value was approximately $234.9 million, or $6.28 per share, with 37,418,470 shares outstanding.

• After a $75 million offering at $1.91 per share, as-adjusted net tangible book value would be $307.5 million, or $4.01 per share.

• Immediate dilution to existing shareholders of $2.27 per share, and an increase in net tangible book value per share to new investors of $2.10.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used primarily for research and clinical development, expansion of R&D programs, working capital, capital expenditures, and other general corporate purposes.

• Proceeds may be temporarily invested in short-term, investment-grade instruments or held as cash.

• Management retains broad discretion over allocation of proceeds.