Lexeo Therapeutics, Inc., a clinical stage genetic medicine company, focuses on hereditary and acquired diseases with high unmet need in the United States. Its product pipeline comprises LX2006, an AAVrh10-based gene therapy candidate, which is in phase 1/2 clinical trial to treat friedreich ataxia cardiomyopathy; LX2020, an AAVrh10-based gene therapy candidate, which is in phase 1/2 to deliver a functional plakophilin-2 (PKP2) gene to cardiac muscle for the treatment of PKP2-ACM; and LX2021, a gene therapy candidate, which is in preclinical trial to deliver the coding sequence for the functional connexin 43, or Cx43, protein for a group of inherited cardiac muscle disorders associated with a high risk of sudden death, including arrhythmogenic cardiomyopathy (ACM) and certain forms of dilated cardiomyopathy. The company is also developing LX2022, a gene therapy candidate, which is in preclinical trial to deliver a functional TNNI3 gene to myocardial cells to treat a distinct form of hypertrophic cardiomyopathy. In addition, it is developing LX1001, LX1020, and LX1021, an AAVrh10-based gene therapy candidate, which has completed phase 1/2 clinical trial for the treatment of APOE4-associated Alzheimer's disease. The company has a license agreement with Cornell University to conduct the Phase 1/2 clinical trial of LX1001, as well as support the development of the LX1004 program; a research collaboration agreement with Cornell University to conduct preclinical research to develop the licensed technology; and third license agreement which obtained certain rights for FA cardiomyopathy, including rights to current and future clinical data from an ongoing Cornell University investigator-initiated Phase 1A trial of a gene therapy candidate. The company was founded in 2017 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-98M | $-100M | $-99M | -40.5% | - | 1.7% |
| 2024 | $0M | $-96M | $-98M | $-82M | -84.2% | - | 48.1% |
| 2023 | $0M | $-64M | $-66M | $-60M | -58.5% | -100.0% | 12.0% |
| 2022 | $1M | $-58M | $-59M | $-55M | 52.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0.65 | 0 | 0 | 0 |
| Operating Revenue | - | 0.65 | 0 | 0 | 0 |
| Operating Expense | - | 61.16 | 68.51 | 105.77 | 109.26 |
| Research And Development | - | 49.16 | 53.13 | 74.09 | 63.80 |
| Selling General And Administration | - | 12 | 15.38 | 31.68 | 45.46 |
| Total Expenses | - | 61.16 | 68.51 | 105.77 | 109.26 |
| Operating Income | - | -60.51 | -68.51 | -105.77 | -109.26 |
| Total Operating Income As Reported | - | -60.51 | -68.51 | -105.77 | -109.26 |
| EBITDA | - | -58.04 | -64.35 | -96.19 | -97.68 |
| Normalized EBITDA | - | -58.04 | -63.82 | -96.19 | -101.07 |
| EBIT | - | -59.19 | -66.19 | -98.20 | -99.76 |
| Interest Income | - | 1.32 | 2.87 | 7.58 | 6.13 |
| Interest Expense | - | 0.09 | 0.20 | 0.14 | 0.21 |
| Net Interest Income | - | 1.23 | 2.66 | 7.44 | 5.92 |
| Other Non Operating Income Expenses | - | 0 | -0.01 | -0.01 | -0.02 |
| Other Income Expense | - | 0 | -0.54 | -0.01 | 3.37 |
| Interest Income Non Operating | - | 1.32 | 2.87 | 7.58 | 6.13 |
| Interest Expense Non Operating | - | 0.09 | 0.20 | 0.14 | 0.21 |
| Net Non Operating Interest Income Expense | - | 1.23 | 2.66 | 7.44 | 5.92 |
| Pretax Income | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Tax Provision | - | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Net Income From Continuing And Discontinued Operation | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Net Income From Continuing Operation Net Minority Interest | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Net Income | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Net Income Common Stockholders | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Net Income Including Noncontrolling Interests | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Normalized Income | - | -59.28 | -65.86 | -98.33 | -103.35 |
| Diluted NI Availto Com Stockholders | - | -59.28 | -66.39 | -98.33 | -99.96 |
| Basic Average Shares | 25.17 | 25.17 | 5.35 | 31.79 | - |
| Diluted Average Shares | 25.17 | 25.17 | 5.35 | 31.79 | - |
| Reconciled Depreciation | - | 1.14 | 1.84 | 2 | 2.08 |
| Total Unusual Items | 0 | - | -0.53 | - | 3.39 |
| Total Unusual Items Excluding Goodwill | 0 | - | -0.53 | - | 3.39 |
| Special Income Charges | 0 | - | - | - | - |
| Gain On Sale Of Security | - | - | -0.53 | - | 3.39 |
| General And Administrative Expense | - | 12 | 15.38 | 31.68 | 45.46 |
| Other Gand A | - | 12 | 15.38 | 31.68 | 45.46 |
| Total Other Finance Cost | -0.02 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Lexeo Therapeutics, Inc.this co. | LXEO | $375M | -3.75 | 1.52 | -40.5% | -3.28 |
| OmniAb, Inc. | OABI | $386M | -5.95 | 1.44 | -24.3% | -8.06 |
| Compass Therapeutics, Inc. | CMPX | $384M | -5.77 | 1.95 | -33.8% | -5.08 |
| Benitec Biopharma Inc. | BNTC | $380M | -10.01 | 3.90 | -39.0% | -6.83 |
| Viemed Healthcare, Inc. | VMD | $377M |
| - |
| - |
| - |
| - |
| - |
| 25.26 |
| 2.67 |
| 10.6% |
| 7.36 |
| CapsoVision, Inc. | CV | $377M | -14.88 | 28.41 | -190.9% | -14.73 |
| Vanda Pharmaceuticals Inc. | VNDA | $376M | - | 1.15 | -67.4% | - |
| Delcath Systems, Inc. | DCTH | $372M | 137.96 | 3.35 | 2.4% | 327.03 |
| Perspective Therapeutics, Inc. | CATX | $371M | -3.59 | 1.79 | -49.8% | -3.41 |
| Peer Median | - | -5.77 | 2.31 | -36.4% | -5.08 | |