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Lexeo Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Operational Highlights
LXEOLexeo Therapeutics(LXEO) Newsfilter·2025-03-24 11:00

Core Insights - Lexeo Therapeutics, Inc. is advancing its clinical programs for LX2006 and LX2020, focusing on treatments for Friedreich ataxia cardiomyopathy and plakophilin-2 arrhythmogenic cardiomyopathy, respectively [1][2][9] Regulatory Updates - The company has received further regulatory clarity from the FDA regarding LX2006, including an accelerated approval pathway for treating Friedreich ataxia cardiomyopathy [2][7] - The planned pivotal study will evaluate frataxin expression based on improvements from baseline rather than a numerical threshold [1][7] - Pediatric cohorts will be included in the upcoming pivotal study [7] Clinical Trial Updates - Interim data from the LX2020 HEROIC-PKP2 Phase 1/2 trial shows a 71% and 115% increase in PKP2 protein expression in the first two post-treatment biopsies [1][11] - The first participant evaluated six months post-treatment experienced a 67% reduction in premature ventricular contractions [11] - Enrollment for cohort 2 of the LX2020 HEROIC-PKP2 trial has been completed, with interim clinical data expected in the second half of 2025 [1][11] Financial Performance - As of December 31, 2024, the company reported cash, cash equivalents, and investments totaling 128.5million,whichisexpectedtofundoperationsinto2027[1][11][15]−ResearchanddevelopmentexpensesforQ42024were128.5 million, which is expected to fund operations into 2027 [1][11][15] - Research and development expenses for Q4 2024 were 18.4 million, up from 8.2 million in Q4 2023, while total R&D expenses for the year were 74.1 million compared to 53.1millionin2023[11][14]−GeneralandadministrativeexpensesforQ42024were53.1 million in 2023 [11][14] - General and administrative expenses for Q4 2024 were 9.0 million, compared to 6.8 million in Q4 2023, with total G&A expenses for the year at 31.7 million versus 15.4millionin2023[11][14]NetLoss−ThenetlossforQ42024was15.4 million in 2023 [11][14] Net Loss - The net loss for Q4 2024 was 25.9 million, or 0.78pershare,comparedtoanetlossof0.78 per share, compared to a net loss of 14.2 million, or 0.86pershare,inQ42023[11][14]−Forthefullyear2024,thenetlosswas0.86 per share, in Q4 2023 [11][14] - For the full year 2024, the net loss was 98.3 million, or 3.09pershare,comparedtoanetlossof3.09 per share, compared to a net loss of 66.4 million, or $12.40 per share, in 2023 [11][14]