Graphite Bio(GRPH) - 2025 Q2 - Quarterly Results

Regulatory and Approval Updates - NDA for LNZ100 for presbyopia treatment is on track with a PDUFA target action date of August 8, 2025[1] - The NDA submission for LNZ100 in China has triggered a milestone payment under the agreement with CORXEL, with potential for up to $95 million in regulatory and sales milestones[8] Financial Performance - Net loss for Q2 2025 was $14.9 million, or $0.53 per share, compared to a net loss of $10.3 million, or $0.40 per share in Q2 2024[12] - Total revenue for Q2 2025 was $5 million, with license revenue contributing $5 million, compared to no revenue in Q2 2024[20] Sales and Marketing Initiatives - The company has hired an 88-member sales force ready to initiate marketing activities upon FDA approval[4] Licensing and Partnerships - LENZ executed international licensing agreements for LNZ100, securing over $195 million in upfront and milestone payments, plus double-digit royalties on net sales[5] Cash and Expenses - Cash, cash equivalents, and marketable securities totaled $209.6 million as of June 30, 2025, expected to fund operations to post-launch positive cash flow[9] - The company anticipates a cash balance exceeding $205 million by the PDUFA target action date[9] - R&D expenses increased to $9.1 million for Q2 2025, up from $6.9 million in Q2 2024, driven by pre-approval manufacturing activities[10] - SG&A expenses rose to $12.8 million for Q2 2025, compared to $7.4 million in Q2 2024, due to increased personnel and marketing expenses[11]