Gene edit­ing start­up Metageno­mi fi­nal­ly sets IPO range, as pre­clin­i­cal biotech eyes $87M

Gene edit­ing com­pa­ny Metageno­mi has set a price range for its pro­posed ini­tial pub­lic of­fer­ing, mark­ing a key step for pre­clin­i­cal biotechs af­ter weeks of an­tic­i­pa­tion on whether the Cal­i­for­nia start­up would fol­low through with a list­ing.

Metageno­mi ex­pects net pro­ceeds of about $87 mil­lion if it prices at $16 per share, the mid­point of its pro­posed range dis­closed Mon­day morn­ing in an SEC fil­ing. The biotech will like­ly go pub­lic lat­er this week by sell­ing 6.25 mil­lion shares. There’s a chance its pro­ceeds could bal­loon if the com­pa­ny up­sizes be­fore land­ing on Nas­daq as “MGX,” as CG On­col­o­gy, Ar­riVent Bio­Phar­ma and Al­to Neu­ro­science did in the past two weeks.

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