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In Brief This Week: Lexeo Therapeutics, GeneVentiv Therapeutics, Allarity Therapeutics

NEW YORK – New York City-based Lexeo Therapeutics this week said it has been awarded fast-track designation from the US Food and Drug Administration for LX2006, a gene therapy candidate the company is developing for Friedreich's ataxia cardiomyopathy, an inherited neuromuscular disorder caused by deficiency in the frataxin protein. Lexeo is currently evaluating LX2006 in a dose-ascending, open-label Phase I/II trial in which patients receive a one-time intravenous infusion of the gene therapy. 

Raleigh, North Carolina-based GeneVentiv Therapeutics this week said it has been awarded a $2.5 million small business innovation research grant from the US National Institutes of Health's National Heart Lung Blood Institute to advance preclinical development of a gene therapy for hemophilias. The funding will enable a large animal study and assay development to support investigational new drug-enabling activities. 

Allarity Therapeutics said this week that it has received a Nasdaq-approved extension to regain compliance with the Nasdaq listing rule requiring a minimum stockholders' equity of $2.5 million. Allarity now has until May 14, 2024, to comply with the rule. This is the second extension the firm has received; under the previous extension, Allarity had until April 24, 2024, to meet this requirement. Allarity says it is reducing its operating costs and adjusting its financial structure to comply. 

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on Precision Medicine Online.