Metagenomi Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
MGX$0.70-3.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(54,660) | $(48,961) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation expense | 12,792 | 4,453 |
| Depreciation | 3,946 | 3,006 |
| Loss on fixed assets write-off | 290 | 9 |
| Non-cash lease expense | 3,432 | 3,107 |
| Amortization of premiums and discounts on available-for-sale marketable securities | (4,827) | (6,852) |
| Amortization of non-cash collaboration revenue | (1,613) | (654) |
| Change in fair value of long-term investments | 2,055 | (2,870) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,862 | (3,924) |
| Contract assets | — | 1,274 |
| Prepaid expenses and other assets | (1,159) | 389 |
| Accounts payable | 1,464 | 2,439 |
| Income tax payable | (3,266) | 632 |
| Deferred revenue and collaboration advance | (38,366) | (25,039) |
| Accrued expenses and other current liabilities | (575) | 727 |
| Operating lease liabilities | (2,168) | (972) |
| Other non-current liabilities | (2,004) | 2,419 |
| Net cash used in operating activities | (82,797) | (70,817) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (2,780) | (8,077) |
| Purchases of available-for-sale marketable securities | (293,755) | (168,977) |
| Maturities of available-for-sale marketable securities | 180,157 | 162,156 |
| Purchases of long-term investments | (324) | — |
| Net cash used in investing activities | (116,702) | (14,898) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs | 84,013 | — |
| Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | — | 4,295 |
| Payments of initial public offering costs | — | (1,949) |
| Net cash provided by financing activities | 84,013 | 2,346 |
| Net decrease in cash, cash equivalents and restricted cash | (115,486) | (83,369) |
| Cash, cash equivalents and restricted cash at beginning of period | 145,851 | 190,514 |
| Cash, cash equivalents and restricted cash at end of period | $30,365 | $107,145 |
| Supplemental disclosure of non-cash information | ||
| Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $350,758 | $— |
| Issuance of common stock and restricted common stock in exchange for profits interests upon Reorganization | $9,457 | $— |
| Reclassification of deferred offering costs paid in prior year to stockholders’ equity | $3,283 | $— |
| Common shares of Affini-T received for collaboration revenue | $1,632 | $— |
| Purchases of property and equipment included in accounts payable, accrued expenses and other current liabilities | $271 | $876 |
| Operating lease right-of-use assets obtained in exchange for new lease liabilities | $— | $30,608 |
| Deferred initial public offering costs included in accounts payable, accrued expenses and other current liabilities | $— | $2,456 |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $25,117 | $101,897 |
| Restricted cash | 5,248 | 5,248 |
| Cash, cash equivalents and restricted cash at end of period | $30,365 | $107,145 |
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