LENZ Therapeutics, Inc.(LENZ) - 2024 Q4 - Annual Results

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].