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Metagenomi Inc. (MGX+1.35%) has filed its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The report details Metagenomi's focus on developing precision genetic medicines using its proprietary genome editing toolbox. The company is advancing programs for diseases such as hemophilia A and secreted protein deficiencies.
Metagenomi's lead program in hemophilia A aims to provide a potentially curative therapy by inserting a Factor VIII DNA cassette into the genome of hepatocytes in the liver. The company has reported data from non-human primate studies demonstrating durable FVIII activity.
The company is also advancing therapeutic candidates for secreted protein deficiencies, with plans to disclose the lead indication and achieve non-human primate proof-of-concept in 2025.
Metagenomi has collaborations with Ionis Pharmaceuticals and Affini-T Therapeutics. The Ionis partnership focuses on cardiometabolic diseases, while the Affini-T collaboration targets cancer treatment using gene-edited T-cell receptor-based therapies.
Metagenomi's intellectual property portfolio includes issued patents and pending applications related to its genome editing systems. The company emphasizes the importance of protecting its proprietary technology through patents and trade secrets.
The report outlines potential risks, including the need for substantial additional funding, competition in the rapidly evolving genome editing field, and the challenges of regulatory approval for novel genetic therapies.
Metagenomi acknowledges the importance of collaborations and partnerships to accelerate the development of its genetic therapeutic candidates and highlights its strategy to expand therapeutic impact through business development.
The company is focused on building a fully integrated genome editing company with capabilities in discovery, preclinical and clinical development, and manufacturing.
Metagenomi's financial statements indicate a net loss of $78.1 million for the year ended December 31, 2024, with a cash position of $248.3 million as of that date.
The filing also addresses risks related to intellectual property, regulatory compliance, and potential litigation, including a class action lawsuit filed against the company regarding its collaboration with Moderna.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Metagenomi Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.