Metagenomi is taking the lessons learned from Biogen and Ionis Pharmaceuticals' failed ATXN2-targeting amyotrophic lateral sclerosis (ALS) candidate — and staying away from that particular target-indication combo. The biotech disclosed in its second-quarter earnings report Wednesday that it is no longer developing an ALS programme “based upon recent peer company clinical data regarding the lack of efficacy” for ATXN2 as a therapeutic target for the disease. Biogen and Ionis scrapped BIIB105 in May after the antisense oligonucleotide failed to reduce levels of a biomarker for neurodegeneration, nor did it improve any of several functional measurements in the Phase I/II ALSpire study.Metagenomi’s portfolio trim comes as it consolidates its early-stage programmes to “make it easier to identify our near-term pipeline priorities.”The company plans to focus its internal development activities on in vivo gene editing therapeutics and liver indications, and will aim to out-license its ex vivo cell therapy technologies — as well as its newly wholly owned primary hyperoxaluria type 1 (PH1) programme.Metagenomi regained full rights to the PH1 candidate after Moderna broke off a nearly three-year collaboration in May. The biotech is now searching for a development partner or licensee to advance the asset, for which it has preclinical proof-of-concept data. Such a deal would free Metagenomi up to focus on its haemophilia A programme. The company revealed in Wednesday’s earnings report that it has named its lead development candidate, MGX-001, and anticipates filing in 2026 to begin in-human testing. With about $300 million in cash and marketable securities, Metagenomi expects to have runway into 2027, though the firm has lost nearly 80% of its value since its February public debut. As the first preclinical biotech to IPO this year, Metagenomi priced its offering at $15 per share — the bottom of its proposed range — and has since traded down to about $3.