Lexeo Therapeutics Inc 2025年度报告

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. Seethe definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reportingunder Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ The number of shares of Registrant’s common stock outstanding as of March 27, 2026 was 74,087,063. DOCUMENTS INCORPORATED BY REFERENCEPortions of the Registrant’s definitive Proxy Statement relating to the 2026 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report onForm 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year endedDecember 31, 2025. TABLE OF CONTENTS PART I Item 1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Reserved PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities99Item 6.Reserved99Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations100Item 7A.Reserved110Item 8.Financial Statements and Supplementary Data111Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure138Item 9A.Controls and Procedures138Item 9B.Other Information139Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections139 PART III Directors, Executive Officers and Corporate Governance140Executive Compensation140Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters140Certain Relationships and Related Transactions, and Director Independence140Principal Accounting Fees and Services140 PART IV Exhibits, Financial Statement Schedules SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, or Annual Report, contains forward-looking statements that involve risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Allstatements other than statements of historical facts contained in this Annual Report, including statements regarding our future results of operations andfinancial position, business strategy, development plans, planned preclinical studies and clinical trials, future results of clinical trials, expected research anddevelopment costs, regulatory strategy, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,”“could,” “intend,” “target,” “project,” “estimate,” “believe,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressionsintended to identify statements about the future. Forward-looking statements contained in this Annual Report include, without limitation, statements about: •the timing, progress and results of our preclinical studies and clinical trials of our product candidates, including statements regarding the timingof initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will becomeavailable and our research and development programs;•the timing of our planned investigational new drug, or IND, submissions, initiation of planned clinical trials and timing of expected clinicalresults for LX2006 and LX2020, if applicable, and our other future product candidates;•the timing for receipt and announcement of data from our preclinical studies and clinical trials;•the timing of any submission of filings for regulatory approval of and our ability to obtain and maintain regulatory approvals for LX2006,LX2020 and any other product candidates;•the impact of public health crises and other adverse global economic conditions on our operation