Quarterly ResultMay 11, 2026, 07:11 AM
Lexeo Therapeutics Q1 Net Loss Narrows to $20.2M; EPS $(0.25)
AI Summary
Lexeo Therapeutics reported a net loss of $20.2 million, or $(0.25) per share, for the first quarter of 2026, showing an improvement from the $32.7 million net loss in the prior year's quarter. Total operating expenses decreased to $22.3 million from $33.8 million year-over-year. As of March 31, 2026, the company held $227.6 million in cash, cash equivalents, and investments, and management projects these balances will fund operations for at least 12 months.
Key Highlights
- Net loss for Q1 2026 was $20.2 million, an improvement from $32.7 million in Q1 2025.
- Net loss per common share was $(0.25) in Q1 2026, compared to $(0.99) in Q1 2025.
- Total operating expenses decreased to $22.3 million in Q1 2026 from $33.8 million in Q1 2025.
- Research and development expenses were $15.7 million in Q1 2026, down from $17.2 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $227.6 million as of March 31, 2026.
- Net cash used in operating activities was $(21.1) million for the three months ended March 31, 2026.
- Raised $25.0 million in gross proceeds from an ATM Program in April 2026.
- Management estimates current funds are sufficient to fund operations for at least 12 months.
Price Impact
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