SAN DIEGO, April 30, 2025 (GLOBE NEWSWIRE) -- LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a pre-commercial stage biopharmaceutical company focused on the development and commercialization of the first and only aceclidine-based eye drop to improve near vision in people with presbyopia, today announced it will host a webcast on Wednesday, May 7th, 2025, at 4:30 p.m. EDT to report its first quarter 2025 financial results and recent corporate highlights. To participate in the conference c ...

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I covered LENZ Therapeutics, Inc. (NASDAQ: LENZ ) in August, and since then, the company has progressed steadily towards its first approval. In August, I called LENZ a BUY, and while the stock nearly doubled in November, it is now down to onlyAbout the TPT serviceThanks for reading. At the Total Pharma Tracker, we offer the following:-Our Android app and website features a set of tools for DIY investors, including a work-in-progress software where you can enter any ticker and get extensive curated research ...

LENZ Therapeutics, Inc. (NASDAQ:LENZ) Q4 2024 Results Conference Call March 19, 2025 4:30 PM ET Company Participants Dan Chevallard - Chief Financial Officer Eef Schimmelpennink - President & Chief Executive Officer Shawn Olsson - Chief Commercial Officer Marc Odrich - Chief Medical Officer Conference Call Participants Yigal Nochomovitz - Citigroup Madhu Yennawar - Leerink Partners Joe Catanzaro - Piper Sandler Stacy Ku - TD Cowen Jason Gerberry - Bank of America Lachlan Hanbury-Brown - William Blair Denis ...

Product Development - LENZ's lead product candidate LNZ100 is a once-daily eye drop targeting presbyopia, with a U.S. market opportunity exceeding $3 billion[487] - In the Phase 3 CLARITY study, LNZ100 demonstrated that 71% of participants achieved three-lines or greater improvement in near vision at 3 hours post-application[489] - The FDA assigned a PDUFA target action date of August 8, 2025, for LNZ100, with a potential commercial launch in Q4 2025 if approved[491] - LNZ100 has patent protection until at least 2039 in the U.S., supported by a robust intellectual property portfolio[488] - The company plans to continue its research and development efforts, including advancing its product candidate LNZ100 through clinical development[574] Financial Performance - As of December 31, 2024, LENZ had $209.1 million in cash and marketable securities, sufficient to support operations until positive cash flow post-commercial launch[492] - Research and development expenses decreased by 50% from $59.5 million in 2023 to $29.8 million in 2024 due to the completion of Phase 3 trials[509] - Selling, general and administrative expenses increased by 123% from $12.9 million in 2023 to $28.8 million in 2024, reflecting the build-up of a commercial team[509] - The company incurred an accumulated deficit of $145 million as of December 31, 2024, primarily due to research and development costs[492] - Net losses were $49.8 million for the year ended December 31, 2024, compared to $70.0 million for 2023[515] - The net loss for 2024 was $49.8 million, compared to a net loss of $70.0 million in 2023, reflecting an improvement of 29%[561] - Total operating expenses for 2024 were $58.610 million, down from $72.429 million in 2023, indicating a 19% reduction[616] Cash Flow and Financing - Cash used in operating activities was $59.4 million for the year ended December 31, 2024, resulting from a net loss of $49.8 million[523] - Cash provided by financing activities was $199.0 million for the year ended December 31, 2024, including $117.8 million from the Merger[528] - Cash used in investing activities was $154.5 million for the year ended December 31, 2024, primarily due to $241.9 million in purchases of marketable securities[525] - The company raised $79.51 million from the issuance of common stock in 2024, contributing to a net cash provided by financing activities of $199.00 million[570] Assets and Liabilities - Total current assets increased to $211.9 million in 2024 from $67.2 million in 2023, representing a growth of 214%[557] - Total liabilities decreased to $11.2 million in 2024 from $19.7 million in 2023, a decline of 43%[557] - The company's cash and cash equivalents decreased to $20.2 million in 2024 from $35.1 million in 2023, a decrease of 43%[557] - The marketable securities increased significantly to $188.9 million in 2024 from $30.7 million in 2023, a growth of 516%[557] Shareholder Equity - The weighted-average common shares outstanding increased to 21.3 million in 2024 from 2.0 million in 2023, an increase of 965%[561] - The total common stock outstanding increased to 27,518,439 shares, with an additional paid-in capital of $348,901,000[567] - The company issued 28,019,181 shares of Series B Convertible Preferred Stock, raising $82,976,000, net of issuance costs[567] Merger and Acquisitions - The merger with LENZ OpCo was completed on March 21, 2024, with the transaction accounted for as a reverse recapitalization[573] - Following the merger, former LENZ OpCo stockholders owned approximately 56% of the combined company, while Graphite stockholders and PIPE investors owned 31% and 13%, respectively[624] - LENZ OpCo received $112.6 million in cash and cash equivalents, net of transaction costs, and incurred transaction costs of approximately $5.1 million[625] Tax and Regulatory Matters - The Company has federal net operating losses (NOL) of $72.899 million that do not expire, and state NOLs of $3.908 million expiring between 2040 and 2044[673] - The total deferred tax assets increased to $53.794 million in 2024 from $26.810 million in 2023, primarily due to an increase in net operating loss carryforwards[670] Other Financial Metrics - Other income, net for the year ended December 31, 2024, was $8.8 million, up from $2.3 million in 2023, primarily due to increased interest income[514] - The Company recognized interest income of $8.553 million in 2024, compared to $2.189 million in 2023, marking a 290% increase[616]

LENZ Therapeutics (LENZ) Q4 2024 Earnings Call March 19, 2025 04:30 PM ET Company Participants Dan Chevallard - CFOEvert Schimmelpennink - President, CEO, Secretary & DirectorShawn Olsson - Chief Commercial OfficerYigal Nochomovitz - DirectorMarc Goodman - Senior MD - NeuroscienceDenis Reznik - Senior Equity Research Associate Conference Call Participants Joseph Catanzaro - Director & Senior Equity AnalystStacy Ku - AnalystJason Gerberry - AnalystLachlan Hanbury-Brown - Biotech Equity Research AnalystMatthe ...

Financial Performance - LENZ Therapeutics reported cash, cash equivalents, and marketable securities of $209.1 million as of December 31, 2024, expected to fund operations until post-launch positive operating cash flow[9]. - Research and Development (R&D) expenses decreased to $5.9 million for Q4 2024, down from $19.5 million in Q4 2023, and totaled $29.8 million for the year, compared to $59.5 million in 2023[10]. - Selling, General and Administrative (SG&A) expenses increased to $9.4 million for Q4 2024, up from $5.5 million in Q4 2023, and totaled $28.8 million for the year, compared to $12.9 million in 2023[11]. - Net loss for Q4 2024 was $12.7 million, or $0.46 per share, compared to a net loss of $23.7 million, or $12.04 per share in Q4 2023; for the year, net loss was $49.8 million, or $2.34 per share, compared to $70.0 million, or $35.71 per share in 2023[12]. - Total operating expenses for the year ended December 31, 2024, were $58.6 million, down from $72.4 million in 2023[21]. - Total stockholders' equity increased to $204.1 million as of December 31, 2024, compared to a deficit of $92.7 million in 2023[19]. Product Development and Approval - The FDA has set a PDUFA target action date of August 8, 2025, for the New Drug Application (NDA) of LNZ100, a treatment for presbyopia[4]. - The NDA submission for LNZ100 is supported by positive data from the pivotal Phase 3 CLARITY study, which showed 74% of patients achieving three-lines or greater improvement in Best Corrected Distance Visual Acuity (BCDVA) at near[7]. Commercial Strategy - The company has advanced its commercial planning for LNZ100, with over 2 million digital campaign impressions targeting more than 30,000 Eye Care Professionals (ECPs)[5]. - LENZ Therapeutics will host a Commercial Day on April 15, 2025, to discuss commercialization strategies and progress towards the potential approval of LNZ100[8].

Core Viewpoint - LENZ Therapeutics is progressing towards the potential approval and commercial launch of LNZ100, an aceclidine-based eye drop for treating presbyopia, with a PDUFA target action date set for August 8, 2025 [1][4]. Company Developments - The FDA has accepted the New Drug Application (NDA) for LNZ100, which is aimed at a market of approximately 1.8 billion people globally and 128 million in the U.S. [4]. - The company has completed a mid-cycle review with the FDA, indicating no significant review issues and no plans for an Advisory Committee Meeting [4]. - LENZ Therapeutics has initiated production to support the potential commercial launch of LNZ100 following the positive outcomes from the Phase 3 CLARITY study [3][4]. Financial Highlights - As of December 31, 2024, the company reported cash, cash equivalents, and marketable securities totaling $209.1 million, which is expected to fund operations until post-launch positive operating cash flow [9]. - Research and Development (R&D) expenses decreased significantly to $5.9 million for Q4 2024 from $19.5 million in Q4 2023, and for the full year, R&D expenses were $29.8 million compared to $59.5 million in 2023 [10]. - Selling, General and Administrative (SG&A) expenses increased to $9.4 million for Q4 2024 from $5.5 million in Q4 2023, reflecting growth in personnel and pre-commercial marketing efforts [11]. Market Strategy - The company is advancing its commercial planning in preparation for the potential approval of LNZ100, with a focus on increasing awareness among Eye Care Professionals (ECPs) through digital campaigns [5]. - A Commercial Day event is scheduled for April 15, 2025, to discuss commercialization strategies and updates regarding LNZ100 [8]. Clinical Data - Positive topline data from a Phase 3 study in China showed that LNZ100 achieved significant improvements in near vision without compromising distance vision, with 74% of patients experiencing a three-line or greater improvement [6][7].

Core Viewpoint - LENZ Therapeutics is preparing to report its fourth quarter and full year 2024 financial results and recent corporate highlights on March 19, 2025 [1] Company Overview - LENZ Therapeutics is a pre-commercial biopharmaceutical company focused on developing and commercializing the first and only aceclidine-based eye drop for improving near vision in presbyopia patients [3] - The product candidate, LNZ100, is a preservative-free, single-use, once-daily eye drop containing aceclidine [3] - LNZ100 was evaluated in the Phase 3 CLARITY study as a potential therapy for presbyopia, which affects approximately 1.8 billion people globally and 128 million people in the United States [3] - The FDA has set a Prescription Drug User Fee Act (PDUFA) target action date of August 8, 2025, for LNZ100 [3] - The company aims to provide an ideal pharmaceutical solution for presbyopia that enhances vision for "all eyes, all day" [3] - LENZ Therapeutics is headquartered in San Diego, California [3]

Core Insights - LENZ Therapeutics is hosting a Commercial Day to discuss the commercialization strategy and progress towards the potential approval of LNZ100 for presbyopia treatment on April 15, 2025 [1][2] Company Overview - LENZ Therapeutics is a pre-commercial biopharmaceutical company focused on developing the first aceclidine-based eye drop for improving near vision in presbyopia patients [4] - LNZ100 is a preservative-free, single-use, once-daily eye drop containing aceclidine, evaluated in the Phase 3 CLARITY study [4] - The condition of presbyopia affects approximately 1.8 billion people globally and 128 million in the United States [4] - The FDA has set a Prescription Drug User Fee Act (PDUFA) target action date of August 8, 2025, for LNZ100 [4] Event Details - The Commercial Day will feature management presentations on commercialization strategies, supply chain readiness, and insights from Key Opinion Leaders and Eye Care Professionals [2] - A live audio webcast of the event will be available on the LENZ Therapeutics website, with a replay accessible for 12 months [3]