Summary of LENZ Therapeutics FY Conference Call Company Overview - **Company**: LENZ Therapeutics (NasdaqGS:LENZ) - **Industry**: Ophthalmology, specifically focusing on presbyopia treatment - **Recent Development**: Recently approved therapy for presbyopia, an age-related vision condition affecting near vision [1][2] Core Points and Arguments Product Differentiation - LENZ Therapeutics developed an ophthalmic drop using aceclidine, a previously marketed glaucoma product, to treat presbyopia non-invasively [4][3] - The product aims to create a pin-hole pupil effect, improving near vision for patients aged 45 and older [6][7] - The target product profile includes a once-daily application that provides rapid and long-lasting effects, with 93% of patients achieving at least 20/40 vision [10][12] Clinical Data - Phase 3 CLARITY trials showed: - 71% of patients achieved a three-line improvement in near vision within 30 minutes [12] - 95% of participants achieved at least two lines of near vision improvement [11] - 93% of patients reached 20/40 vision or better within an hour, with 70% maintaining this level after 10 hours [10][13] Market Opportunity - There are approximately 128 million presbyopia patients in the U.S., with a significant portion expressing interest in an ophthalmic drop solution [7][19] - The company targets specific segments, including contact lens wearers, LASIK patients, and active aging individuals, each exceeding 10 million potential users [20][21][22] Commercial Strategy - The commercial strategy consists of three pillars: 1. **Doctors to recommend**: An 88-person sales force targeting 13,000 doctors, with a focus on optometry [14][16] 2. **Consumers to request**: A direct-to-consumer (DTC) campaign launching in Q1 2026 [15][44] 3. **Seamless access**: Ensuring easy access to the product through e-pharmacy and retail channels [15] Pricing Strategy - The product is priced at $79 per month, aligning with competitor VUITY, which had a successful launch at the same price point [24][25] - A three-month pack is available for $198, offering a lower monthly cost [25] Lessons from Competitors - The company learned from VUITY's experience, which had a strong initial launch but failed to maintain momentum due to efficacy issues [27][28] - LENZ Therapeutics emphasizes the importance of delivering on the product's promise of immediate results to avoid consumer disappointment [28][29] Key Performance Indicators (KPIs) - Metrics to track post-launch include: - Number of doctors prescribing the product - Frequency of prescriptions (refill rates) - Consumer engagement through the vis.com website [36][50] Additional Insights - The company has received positive anecdotal feedback from both patients and doctors regarding the product's efficacy and ease of use [40][41] - The marketing campaign will feature a celebrity endorsement and target platforms like Facebook, Instagram, and YouTube [46][48] Conclusion LENZ Therapeutics is positioned to capture a significant share of the presbyopia treatment market with its innovative ophthalmic drop, backed by strong clinical data and a comprehensive commercial strategy. The focus on immediate efficacy and targeted marketing will be crucial for the product's success in a competitive landscape.

Summary of LENZ Therapeutics Conference Call Company Overview - **Company**: LENZ Therapeutics - **Product**: Viz, an eye drop treatment for presbyopia, which is the age-related loss of near vision [4][5] Key Points and Arguments FDA Approval and Product Launch - LENZ received FDA approval for Viz a week ahead of schedule, with the brand name revealed at that time [5] - The product is designed to restore near vision without affecting distance vision, allowing users to regain functionality throughout the workday [4][5] Market Opportunity - There are approximately **128 million presbyopes** in the U.S., representing a significant market potential [7] - The product is a self-pay solution, requiring a prescription from a doctor [7] Commercial Strategy - A three-pronged commercial strategy includes: 1. **Doctor Recommendations**: A sales force of **100 representatives** is targeting **15,000 doctors**, focusing primarily on optometrists [7][9] 2. **Direct-to-Consumer (DTC) Marketing**: Planned to launch in Q1 of the following year, aimed at motivating consumers frustrated with reading glasses [10][21] 3. **Seamless Patient Journey**: Simplifying the process from doctor visit to product delivery, including a five-day sample and easy ordering through e-pharmacy [12][20] Competitive Landscape - LENZ aims to differentiate Viz from competitors like VUITY, emphasizing that Viz is **three times more efficacious** and has a longer duration of effect [31][32] - The product is designed for a broad patient population, with high interest among users of contact lenses, those who have had LASIK, and the active aging demographic [24][25][26] Patient Usage Patterns - Clinical trial data indicates that **75%** of users expressed a desire to continue using the product, with expectations of **four to seven days of use per week** [27][28] - A conservative estimate suggests **five refills per year** per patient [28] Manufacturing and Logistics - The product's active pharmaceutical ingredient (API) is manufactured in the U.S. and filled in Germany, with a focus on maintaining a robust supply chain [44][45] - The product can be stored at room temperature for consumer convenience, although it should be refrigerated for longer-term storage [46][47] Future Growth and Expansion - LENZ plans to focus on the U.S. market initially, with potential expansions into international markets like Greater China and Canada, where similar branding and marketing strategies will be employed [57][59][60] - The company is open to future product expansion but is currently focused on the successful launch of Viz [73][74] Additional Important Information - The company is aware of the challenges faced by competitors and is taking a strategic approach to avoid pitfalls seen in previous product launches [14][29] - Feedback from doctors has been largely positive, with a low percentage expressing disinterest in the product [71][72] This summary encapsulates the key points discussed during the LENZ Therapeutics conference call, highlighting the company's strategic approach to launching Viz and its potential impact on the presbyopia treatment market.