Lexeo wants to more quickly move investigational gene therapy LX2006 into a registrational study and hopes for a potential efficacy readout in 2027.
As part of its redeployment of about $20 million in capital from preclinical and noncardiac pipeline activities to its lead cardiac programs, Lexeo Therapeutics in April laid off roughly 15% of its employees, the company announced Monday. The New York–based biotech had 75 full-time employees as of March 31, according to an SEC filing, meaning the layoffs could affect around 11 employees.
Lexeo expects its updated capital structure will allow it to pursue key milestones for its clinical-stage pipeline, more quickly initiate a registrational study for investigational gene therapy LX2006—one of its lead cardiac programs—by early 2026 and maintain its runway into 2027. The company did not identify which parts of its pipeline the redeployment affects. Its website lists two cardiac programs in the preclinical stage and three Alzheimer’s therapies, only one of which is in clinical stage development.
The layoff news comes about a month after Lexeo shared that LX2006 can decrease the size and thickness of the left ventricle by one-fourth in patients with Friedreich’s ataxia cardiomyopathy. In its Monday announcement, the company noted that it expects to initiate the registrational study for LX2006 by early 2026, with a potential efficacy readout in 2027.
Regarding its other lead cardiac program, LX2020 for the treatment of plakophilin-2 (PKP2) arrhythmogenic cardiomyopathy, Lexeo is enrolling a third cohort of its HEROIC-PXP2 Phase I/II clinical trial. The company is planning an interim clinical data update for the second half of 2025.
Also on Monday, Lexeo announced its first-quarter financial results, noting a net loss of $32.7 million, up from the $21.7 million loss for the three months ending March 31, 2024. The company had cash, cash equivalents and investments of $106.9 million as of March 31, 2025.
