Lexeo Therapeutics reports FY2023 net loss $66.4M, raises $95M in private placement, extends runway into 2027

Lexeo Therapeutics, Inc.

Net loss $66.4M for 2023 ($12.40/share) vs $59.3M in 2022; cash $121.5M at year-end.
$95M private placement at $15.13/share; co-led by Braidwell and Adage Capital; expected close March 13.
LX2006 Cohort 2 shows positive frataxin increase; interim data from SUNRISE-FA expected mid-2024.
LX2020 granted FDA Fast Track and Orphan Drug Designation; first patient dosing expected in 1H 2024.
Cash runway extended to fund operations into 2027.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lexeo Therapeutics, Inc. reported financial results for fourth quarter and full year 2023.

Period: fourth quarter and full year 2023
Result: reported results

Exact text from the filing

On March 11, 2024, the Company issued a press release announcing business highlights and its financial results for the three and twelve-months ended December 31, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lexeo Therapeutics, Inc. entered into Common Stock Purchase Agreement with certain qualified institutional buyers and institutional accredited investors valued at approximately $95 million (effective 2024-03-11).

Action: entry
Agreement: equity purchase
Counterparty: certain qualified institutional buyers and institutional accredited investors
Value: approximately $95 million
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024, Lexeo Therapeutics, Inc. (the “ Company ”) entered into a Common Stock Purchase Agreement (the “ Purchase Agreement ”) for a private placement (the “ Private Placement ”) with certain qualified institutional buyers and institutional accredited investors (each, a “ Purchaser ” and collectively, the “ Purchasers ”).

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Lexeo Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-029249

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