Metagenomi Reports Business Updates and Full Year 2023 Financial Results
EMERYVILLE, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Metagenomi, Inc. (Nasdaq: MGX), a precision genetic medicines company committed to developing curative therapeutics for patients using its proprietary, comprehensive metagenomics-derived gene editing toolbox, today reported financial results for the full year ended December 31, 2023, and additional business updates.
- The aggregate gross proceeds to Metagenomi from the offering were approximately $93.75 million, before deducting underwriting discounts and commissions and offering expenses.
- In addition, cash used to fund our operations was $91.4 million for the year ended December 31, 2023.
- R&D Expenses: Research and development (R&D) expenses were $94.4 million for the full year ended December 31, 2023.
- G&A Expenses: General and administrative (G&A) expenses were $28.8 million for the full year ended December 31, 2023.