Metagenomi downsizes, replaces CEO, and shifts focus to haemophilia A treatment

Metagenomi, a US-headquartered gene-editing biotech, plans to lay off 25% of its workforce and replace its CEO to extend its cash runway to Q4 2027. The company will focus on progressing its lead candidate MGX-001 for haemophilia A and continue development of its protein knockout assets for cardiometabolic diseases. Shares in the company dropped 9% after the announcement and have plummeted by over 80% since its IPO.