Issue 001 | U.S. Pilot | US

MGX

Metagenomi Therapeutics, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-11 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 44.0%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 144,558,000USD
Total Liabilities: 59,168,000USD
NCAV: 85,390,000USD
Cash: 25,306,000USD
NCAV per share: 2.27USD/share
Evidence: 3 annual | 9 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2026-03-31 10-Q Open filing	2025-12-31 10-K Open filing	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-Q Open filing	2024-12-31 10-K Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-Q Open filing	2023-12-31 10-K Open filing
Period-end Shares Outstanding	37,647,05737,647,057	37,620,66837,620,668	37,546,75137,546,751	37,533,13637,533,136	37,382,47837,382,478	37,418,47037,418,470	37,432,83237,432,832	37,459,85337,459,853	37,468,07837,468,078	n/an/a
Weighted-average Basic Shares	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Weighted-average Diluted Shares	37,581,09437,581,094	37,251,05037,251,050	37,349,44937,349,449	37,156,97937,156,979	37,019,02737,019,027	33,027,88933,027,889	36,766,30936,766,309	36,625,29136,625,291	21,137,86821,137,868	n/an/a
Basic EPS	-1-1	-2-2	-2-2	-1-1	-1-1	-2-2	-2-2	-1-1	-1-1	-20-20
Diluted EPS	-1-1	-2-2	-2-2	-1-1	-1-1	-2-2	-2-2	-1-1	-1-1	-20-20
Basic-to-Diluted Share Difference	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Net Share Count Change	0.1%	0.2%	0.0%	0.4%	-0.1%	-0.0%	-0.1%	-0.0%	Insufficient evidence	Insufficient evidence
Ownership Claim Change	-0.1%	-0.2%	-0.0%	-0.4%	0.1%	0.0%	0.1%	0.0%	Insufficient evidence	Insufficient evidence

Verified split events: reverse 1.74692 on 2024-01-26

Known Unknowns

Only 9 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 10-K USD	2024-12-31 10-K USD	2023-12-31 10-K USD
Revenue	25,210,000	52,295,000	44,756,000
Operating Income	-96,013,000	-88,901,000	-78,492,000
Net Income	-87,868,000	-78,058,000	-68,255,000
Cash From Operations	-88,892,000	-109,073,000	-91,409,000
Capex	-574,000	-3,114,000	-9,814,000
Free Cash Flow	-89,466,000	-112,187,000	-101,223,000
Cash And Equivalents	41,722,000	27,386,000	140,603,000
Accounts Receivable	305,000	1,257,000	2,451,000
Inventory	n/a	n/a	n/a
Total Current Assets	165,538,000	257,960,000	278,273,000
Total Assets	221,103,000	324,599,000	364,842,000
Total Current Liabilities	22,933,000	37,309,000	68,861,000
Total Liabilities	62,507,000	89,742,000	149,668,000
Shareholders Equity	158,596,000	234,857,000	-135,584,000
Shares Outstanding	37,620,668	37,418,470	3,404,585
Shares Outstanding Diluted	n/a	n/a	n/a
Weighted Avg Shares Diluted	37,251,050	33,027,889	3,404,585
Weighted Avg Shares Basic	37,251,050	33,027,889	3,404,585
Net Share Count Change (Normalized)	0.2%	-0.0%	Insufficient evidence
Ownership Claim Change (Normalized)	-0.2%	0.0%	Insufficient evidence

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 9 quarterly periods available from Data Vault for this company.

Metric	2026-03-31 10-Q USD	2025-12-31 10-K USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD
Revenue	1,248,000	3,911,000	8,659,000	8,513,000	4,127,000	9,614,000	11,514,000	20,008,000	11,159,000
Operating Income	-24,587,000	-24,367,000	-22,839,000	-20,987,000	-27,820,000	-20,623,000	-22,383,000	-16,863,000	-29,032,000
Net Income	-23,059,000	-22,528,000	-20,393,000	-19,908,000	-25,039,000	-23,398,000	-18,773,000	-10,739,000	-25,148,000
Cash From Operations	-21,175,000	-23,546,000	-21,253,000	-21,251,000	-22,842,000	-26,276,000	-26,638,000	-26,309,000	-29,850,000
Capex	-25,000	-85,000	-74,000	-127,000	-288,000	-334,000	-1,200,000	-665,000	-915,000
Free Cash Flow	-21,200,000	-23,631,000	-21,327,000	-21,378,000	-23,130,000	-26,610,000	-27,838,000	-26,974,000	-30,765,000
Cash And Equivalents	25,306,000	41,722,000	32,773,000	26,850,000	29,195,000	27,386,000	25,117,000	61,181,000	102,558,000
Total Current Assets	144,558,000	165,538,000	189,820,000	211,681,000	233,195,000	257,960,000	282,293,000	307,579,000	335,643,000
Total Liabilities	59,168,000	62,507,000	69,490,000	76,453,000	85,208,000	89,742,000	102,575,000	116,486,000	139,770,000
Shares Outstanding	37,647,057	37,620,668	37,546,751	37,533,136	37,382,478	37,418,470	37,432,832	37,459,853	37,468,078
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	37,581,094	37,472,679	37,349,449	37,156,979	37,019,027	37,491,951	36,766,309	36,625,291	21,137,868
Weighted Avg Shares Basic	37,581,094	37,472,679	37,349,449	37,156,979	37,019,027	37,491,951	36,766,309	36,625,291	21,137,868
Net Share Count Change (Normalized)	0.1%	0.2%	0.0%	0.4%	-0.1%	-0.0%	-0.1%	-0.0%	Insufficient evidence
Ownership Claim Change (Normalized)	-0.1%	-0.2%	-0.0%	-0.4%	0.1%	0.0%	0.1%	0.0%	Insufficient evidence

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	144,558,000USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json
Total Liabilities	59,168,000USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json
Cash	25,306,000USD	us-gaap:CashAndCashEquivalentsAtCarryingValue	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json
Shares Outstanding	37,647,057	us-gaap:CommonStockSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001785279/companyfacts.json
NCAV	85,390,000USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	2.27USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	44.0%	derived	2026-03-31	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: Local evidence | The Data Vault
CIK: 0001785279
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0001785279/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0001785279/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 10
Imported At: 2026-08-15T12:52:27+00:00
Rendered At: 2026-08-16T03:29:38+00:00

Run Audit

Mary Run: 7597e71d9e0c42a48d3fa1ce89682485
Mary As Of: 2026-07-11
Accession: 0001193125-26-216774
CIK: 0001785279
Mary Filing Date: 2026-05-11
Filing Currency: USD
Internal Discount: 44.0%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=7597e71d9e0c42a48d3fa1ce89682485; mary_as_of=2026-07-11; mary_filing_date=2026-05-11; mary_accession=0001193125-26-216774; mary_cik=0001785279; gnni_supporting_filing_date=2026-05-11; internal_discount=0.440078; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

Back to Register Report a correction Archive