Preclinical biotech Metagenomi began trading publicly on Friday, raising $94 million by offering 6.25 million shares at $15, the low end of the $15 to $17 range it had set earlier in the week. Metagenomi is one of the first preclinical companies to jump into the metaphorical life sciences IPO waters of 2024, a move that other early stage companies in the industry are undoubtedly watching closely to see whether the public market is open to their presence as well. Metagenomi, which went public on the Nasdaq under the ticker "MGX," is represented by Goodwin. Metagenomi specializes in genome editing, a process where scientists alter the DNA of a cell or organism in an effort to cure genetic diseases. Backed by Moderna, all of Metagenomi's product candidates, which target a variety of indications from hemophilia A to cystic fibrosis, are in preclinical development. Metagenomi was represented by a team led by Mitchell Bloom, Edwin O'Connor, Justin Platt and Sabrina Poulos. More in Law360.