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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