LXEO Stock — Lexeo Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical stage genetic medicine company dedicated to reshaping heart health by applying pioneering science to fundamentally change how cardiovascular diseases are treated. We are advancing a portfolio of therapeutic candidates that take aim at the underlying genetic causes of conditions, including Friedreich ataxia, or FA, cardiomyopathy, plakophilin-2, or PKP2, arrhythmogenic cardiomyopathy, and other devastating diseases with high unmet need.

Source: 10-K FY2025 via SEC EDGAR

Share price

$3.07

Market cap

$253.5M

Cash

$211.7M

Enterprise value

$41.8M

Balance sheet

Cash	$211.7M
Debt	$0.0M
Net cash	$211.7M
Enterprise value	$41.8M
Basic shares	82.0M shares
Fully diluted shares	111.3M shares
Fully diluted market cap	$341.8M
Cash per share	$2.58
Quarterly burn	$17.6M
Cash runway	12.0 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-10.

Share structure

Common

82.0M

Pre-funded warrants

7.3M

Options

6.5M

RSUs

1.3M

Warrants

13.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

1.2M

FDSO

111.3M

Cap table as of 2026-06-30.

Price history

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Next catalyst

LX2020 · Jan 12 - Feb 23 in 9 wks · Phase 1/2 · Arrhythmogenic Cardiomyopathy; PKP2-ACM; PKP2-ARVC

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jan 12 - Feb 23 in 9 wks	LX2020	Phase 1/2	Arrhythmogenic Cardiomyopathy; PKP2-ACM; PKP2-ARVC	—
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	LX2006 SUNRISE-FA 2 pivotal trial in Friedreich ataxia cardiomyopathy	Not disclosed	Friedreich ataxia cardiomyopathy	H2 2027
Dec 13, 2028 - Jan 24, 2029 in 25 mo	LX1001	Phase 1	Alzheimer Disease	—
Oct 13 - Nov 24 in 36 mo	Low dose LX2006	Phase 1/2	Friedreich Ataxia; Cardiomyopathy, Secondary	—
Jul 13 - Aug 24 in 69 mo	LX2006	Phase 2	Friedreich Ataxia; Cardiomyopathy, Secondary	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

LX2006

Stage not disclosed · Active Modality: AAVrh10-based gene therapy (intravenous)

Target frataxin (FXN)

Partnerships Adverum: exclusive license for FA cardiomyopathy materials/technology (Jan 2021; $7.5M upfront); Cornell: license agreements (May 2020) and investigator-initiated trial

Indications

Friedreich ataxia (FA) cardiomyopathy (Stage not disclosed)

Catalysts

— first half of 2028

Status note SUNRISE-FA Phase 1/2 ongoing; SUNRISE-FA 2 pivotal study initiated Jun 2026 with protocol/SAP finalized incorporating FDA feedback, intended to support BLA under accelerated approval.

LX2020

Phase 1 · Active Modality: AAV-based gene therapy (one-time intravenous infusion)

Target PKP2 (plakophilin-2)

Partnerships Stelios Therapeutics: acquired Jul 2021 (AAV gene therapies for ACM and TNNI3-HCM); up to $12.5M remaining development milestones

Indications

Arrhythmogenic cardiomyopathy caused by PKP2 mutations (PKP2-ACM) (Phase 1)

Status note HEROIC-PKP2 first-in-human, 52-week open-label dose-ascending trial; 10 participants dosed; interim clinical data update Jan 2026.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	LX2020
Lead indication	Arrhythmogenic Cardiomyopathy
Lead phase	Phase 2
Active trials	7

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07721025	Phase 2	Recruiting	Sponsor	Lexeo Therapeutics	—	Friedreich Ataxia; Cardiomyopathy, Secondary	—
NCT06109181	Phase 1/2	Active, not recruiting	Sponsor	Lexeo Therapeutics	—	Arrhythmogenic Cardiomyopathy; PKP2-ACM; PKP2-ARVC	—
NCT05445323	Phase 1/2	Active, not recruiting	Sponsor	Lexeo Therapeutics	—	Friedreich Ataxia; Cardiomyopathy, Secondary	—
NCT05400330	Phase 1	Active, not recruiting	Sponsor	Lexeo Therapeutics	—	Alzheimer Disease	—
NCT06976606	Not disclosed	Recruiting	Sponsor	Lexeo Therapeutics	—	Arrhythmogenic Cardiomyopathy; PKP2-ACM; PKP2-ARVC	—
NCT06865482	Not disclosed	Recruiting	Sponsor	Lexeo Therapeutics	—	Friedreich Ataxia; Cardiomyopathy	—
NCT07050160	Not disclosed	Enrolling by invitation	Sponsor	Lexeo Therapeutics	—	Arrhythmogenic Cardiomyopathy; PKP2-ACM; PKP2-ARVC	—

Sponsor-matched active trials from ClinicalTrials.gov (7 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 7 active trials for Lexeo Therapeutics on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	5,000,000	no change	0.20%	2026-08-14
Frazier Life Sciences	4,824,725	+400,000	0.49%	2026-08-14
OrbiMed Advisors	3,947,850	+345,400	0.35%	2026-08-14
ADAR1 Capital Management	1,565,950	+98,600	0.34%	2026-08-14
Avoro Capital Advisors	1,489,189	-385,811	0.06%	2026-08-14
Ikarian Capital	513,011	no change	0.39%	2026-08-14
DAFNA Capital	377,059	no change	0.33%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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LXEO — Lexeo Therapeutics Inc. ☆