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EMERYVILLE, Calif. - Precision genetic medicines company Metagenomi, Inc. (NASDAQ:MGX) announced Monday the appointment of Laurence Reid, PhD, to its Board of Directors.
Reid brings 30 years of experience in building biotech companies and developing scientific platforms. He currently serves as chairperson of the board at Broken String Biosciences Ltd. and holds board positions at KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) and several private biotechnology companies. According to InvestingPro, KalVista maintains a strong liquidity position with a current ratio of 5.35, though the company’s overall financial health score indicates challenges ahead.
"Laurence brings a remarkable track record as a company builder and biotech executive, with deep experience across business development, research and development strategy, and organizational growth," said Brian C. Thomas, CEO and founder of Metagenomi, in a press release statement.
Reid previously served as president and CEO of Decibel Therapeutics until its acquisition by Regeneron Pharmaceuticals in 2023, and as CEO of Warp Drive Bio until its merger with Revolution Medicines in 2018. KalVista’s stock has shown strong momentum, posting a 34% gain over the past six months, with analysts setting price targets ranging from $20 to $40 per share. InvestingPro subscribers can access 8 additional key insights about the company’s financial outlook. His earlier roles include Chief Business Officer at Alnylam Pharmaceuticals and General Manager of Millennium Europe at Millennium Pharmaceuticals.
Metagenomi focuses on developing gene editing therapeutics using a platform that has analyzed over 7.4 billion proteins. The company’s lead development program targets Hemophilia A with a therapy designed to provide protection from bleeding events.
Reid holds a B.A. in natural sciences from Cambridge University and a Ph.D. in biochemistry from King’s College, London University. For detailed analysis of biotech companies like KalVista and their growth potential, visit InvestingPro for comprehensive financial metrics and expert insights.
In other recent news, KalVista Pharmaceuticals has announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use has recommended approval of sebetralstat, an oral treatment for hereditary angioedema (HAE) attacks. If approved by the European Commission, this would become the first oral on-demand treatment for HAE available in the European Union. Additionally, the UK’s Medicines and Healthcare products Regulatory Agency has granted marketing authorization for EKTERLY (sebetralstat) as the first oral on-demand treatment for HAE in the UK. This approval provides the drug with up to 10 years of market exclusivity in the UK.
KalVista Pharmaceuticals has also received a Market Outperform rating from JMP Securities, which maintains a $27.00 price target on the stock. The firm believes in the underappreciated potential of the on-demand HAE market, which remains robust despite new long-term prophylactic drugs. Following the UK approval, JMP Securities reiterated its positive outlook on KalVista, anticipating further European Union approval. H.C. Wainwright has also reiterated a Buy rating on KalVista, highlighting the favorable aspects of Ekterly’s label, including no listed contraindications and approval for a higher dose. These developments mark significant milestones for KalVista Pharmaceuticals.
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