Lexeo Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Operational Highlights

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 $128.5 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 $53.1 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 $15.4 million in 2023 [11][14] Net Loss - The net loss for Q4 2024 was $25.9 million, or $0.78 per share, compared to a net loss of $14.2 million, or $0.86 per share, in Q4 2023 [11][14] - For the full year 2024, the net loss was $98.3 million, or $3.09 per share, compared to a net loss of $66.4 million, or $12.40 per share, in 2023 [11][14]