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Lexeo Therapeutics , Inc. (NASDAQ:LXEO) announced Monday that stockholders elected two Class II directors and ratified the selection of its independent registered public accounting firm during the company’s virtual 2025 Annual Meeting of Stockholders, held Thursday.
According to a statement based on the company’s SEC filing, Steven Altschuler, M.D., and Reinaldo Diaz were elected as Class II directors. Dr. Altschuler received 19,800,126 votes in favor and 2,775,771 votes withheld, while Mr. Diaz received 19,986,796 votes in favor and 2,589,101 votes withheld. In each case, there were 5,374,056 broker non-votes. Both directors will serve until Lexeo’s 2028 annual meeting and until their successors are elected and qualified, or until earlier death, resignation, or removal.
Stockholders also ratified the appointment of KPMG LLP as Lexeo’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 27,929,327 votes in favor, 18,858 votes against, and 1,768 abstentions.
Lexeo Therapeutics is a biotechnology company based in New York and trades on the Nasdaq Global Market under the symbol LXEO. The information in this article is based on a press release statement and the company’s recent SEC filing.
In other recent news, Lexeo Therapeutics has secured approximately $80 million through a private placement agreement. This financing round, co-led by Frazier Life Sciences and Janus Henderson Investors, involves the sale of over 20 million common shares and pre-funded warrants, expected to extend Lexeo’s cash runway into 2028. The funds will support the development of their clinical programs, particularly LX2006 for Friedreich ataxia cardiomyopathy. Leerink Partners adjusted Lexeo’s price target to $10 from $16, maintaining an Outperform rating, following the private placement announcement. The firm updated its financial model to reflect these developments.
Additionally, H.C. Wainwright lowered its price target for Lexeo to $15 from $23 but maintained a Buy rating. This adjustment considers recent gene therapy sector developments and Lexeo’s competitive positioning. H.C. Wainwright highlighted promising early data for Lexeo’s LX2020, noting its favorable safety profile compared to competitors. The firm also emphasized positive results from Lexeo’s LX2006 trial, with significant improvements in frataxin expression and a strong safety profile. These updates indicate continued confidence in Lexeo’s potential within the genetic medicine landscape.
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