v3.26.1

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 25,306	$ 41,722
Available-for-sale marketable securities	114,856	119,077
Accounts receivable	0	305
Prepaid expenses and other current assets	4,396	4,434
Total current assets	144,558	165,538
Property and equipment, net	11,160	12,288
Long-term investments	2,154	2,154
Operating lease right-of-use assets	33,761	35,094
Other assets	927	836
Restricted cash	4,393	5,193
Total assets	196,953	221,103
Current liabilities:
Accounts payable	2,398	1,489
Accrued expenses and other current liabilities	4,690	6,719
Current portion of operating lease liabilities	6,105	6,025
Deferred revenue	9,306	8,700
Total current liabilities	22,499	22,933
Non-current portion of operating lease liabilities	33,081	34,632
Deferred revenue, non-current	1,635	2,989
Other non-current liabilities	1,953	1,953
Total liabilities	59,168	62,507
Commitments and contingencies (Note 8)
Stockholders' equity (deficit):
Preferred stock: $0.0001 par value; 10,000,000 shares authorized and zero shares issued and outstanding	0	0
Common stock: $0.0001 par value; 500,000,000 shares authorized; 37,647,057 and 37,620,668 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	4	4
Additional paid-in-capital	471,754	469,202
Accumulated other comprehensive income	(44)	260
Accumulated deficit	(333,929)	(310,870)
Total stockholders' equity	137,785	158,596
Total liabilities and stockholders' equity	$ 196,953	$ 221,103

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Metagenomi Therapeutics, Inc. 10-Q