Preclinical biotech Metagenomi prices $94M IPO at low end of proposed range
The bouncer is letting a preclinical biotech enter the IPO club Thursday night.
Yes, the timestamp is 2024. A preclinical Nasdaq offering sounds like a 2020 or 2021 headline, but California startup Metagenomi is betting that it can operate in the public arena for multiple quarters, perhaps a few years, before even testing its gene editing tools in humans.
Metagenomi’s risk-taking comes in the form of a $93.7 million IPO, priced at $15 per share $MGX, the low end of the range it proposed earlier this week. The biotech’s last private round was a $100 million Series B extension disclosed in January 2023.
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