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.
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