12:50 PM EDT, 07/15/2024 (MT Newswires) -- (Updated with share price movement in the headline and first paragraph)

Lexeo Therapeutics ( LXEO ) shares sank more than 29% in recent Monday trading despite "positive" interim data from phase 1/2 trials of its experimental gene therapy, LX2006, to treat Friedreich ataxia cardiomyopathy.

Earlier in the day, the company said the trial data showed clinically meaningful improvements in cardiac biomarkers.

The company said that LX2006 achieved a mean reduction in left ventricular mass index, or LVMI, of 11.4% at 12 months and 18.3% at 18 months in participants with elevated LVMI at baseline.

Elevated left ventricular mass index, or LVMI, is correlated with mortality in multiple cardiovascular conditions including Friedreich ataxia cardiomyopathy.

About 75% of participants in the trial with elevated left ventricular mass index, at baseline, achieved a more than 10% reduction at 12 months of treatment with LX2006. About 50% of all participants achieved a 10% reduction in LVMI at 12 months, the company said.

The company said LX2006 was well tolerated, with no treatment-related serious adverse events in either study, and added that it expects to share further details of these interim results, including an additional cardiac biopsy from cohort 2, at a scientific conference in the Fall.

Friedreich ataxia cardiomyopathy is a rare genetic neuromuscular disorder that could lead to heart failure.

Price: 12.30, Change: -5.30, Percent Change: -30.11