Metaspriggina

[4] Metaspriggina is considered to represent a primitive chordate, possibly transitional between cephalochordates and the earliest vertebrates, albeit this has been questioned because it seems to possess most of the characteristics attributed to craniates.

[1] In Metaspriggina the myomeral configuration has an additional ventral chevron, and a clear dorsal bend which defines a W-shaped arrangement that is directly comparable to fish.

In this explanation, Pikaia is not a close relative of Craniates at all, nor of cephalochordates, but something even more primitive, and the defining feature of the craniate-cephalochordate group is their gill bars.

[7] Considering that conodonts, the teeth elements of a type of extinct fish belonging to the Agnatha, are already found in Cambrian stage 2 (521-529 MA BP), some 20 million years before the Burgess shale, this latter explanation does not stand.

Phylogenetic analysis suggests that Metaspriggiidae are "stem-vertebrates" along with Haikouella and the Myllokunmingiids leading to the crown vertebrates, who divided themselves into two main directions: jawless fishes like conodonts leading to the Cyclostomi, and jawless fishes like the Cephalaspidomorph who developed armors and jaws to become the gnathostomes.

Life reconstruction of Metaspriggina walcotti
Reconstruction of Metaspriggina based on the Burgess Shale specimens available in 2009. [ 4 ] [ 5 ]
The Metaspriggina fossil.