LENZ Therapeutics (NasdaqGS:LENZ) FY Conference Transcript

Summary of LENZ Therapeutics FY Conference Call Company Overview - Company: LENZ Therapeutics (NasdaqGS:LENZ) - Product: Viz, a presbyopia eye drop approved by the FDA in July 2025 and launched in October 2025 Key Points Product Launch and Market Performance - The launch of Viz has exceeded internal expectations with a 90% brand awareness achieved within two months of launch [3][4] - Over 7,000 offices received product samples, leading to over 2,500 doctors writing prescriptions and 5,000 filled prescriptions in the first four weeks [4][4] - The product is reported to work effectively for nearly all users, restoring near vision within 10-15 minutes and lasting throughout the workday [5][6] Efficacy and Safety - The product has shown a positive safety profile with minimal adverse effects reported, such as mild headaches and transient stinging upon application [9][10] - Anecdotal evidence suggests that Viz may also improve distance vision for some users, although this is not a labeled claim [6][14] - The product's comfort profile is favorable, with users adapting quickly to any initial dimness experienced [13][14] Direct-to-Consumer (DTC) Strategy - DTC advertising is set to begin in Q1 2026, targeting presbyopes, particularly those who have worn contact lenses or had LASIK surgery [16][19] - Sarah Jessica Parker has been announced as the brand spokesperson, supported by local influencers and digital advertising [17][23] - The DTC campaign aims to drive consumer awareness and increase prescriptions through eye care professionals [16][20] Pricing and Market Potential - Viz is priced at approximately $79 for a one-month supply, with a discount for three-month purchases [28][30] - The company anticipates a significant market opportunity, estimating a $3 billion market with 6% penetration translating to 8 million users [44] - The product is expected to appeal to a large demographic, including active aging individuals and those seeking convenience over traditional reading glasses [42][19] Competitive Landscape - Competitors Brimochol and Phentolamine are expected to enter the market in 2026, but LENZ believes Viz has a superior efficacy profile [49][50] - Viz maintains a significant advantage with a higher percentage of users achieving the desired pupil size for effective near vision improvement compared to competitors [50][51] Future Outlook - The company is focused on building a strong foundation with healthcare professionals before ramping up consumer advertising [16][45] - Initial feedback indicates a strong likelihood of daily use among patients, although conservative estimates suggest an average of three days per week for refill assumptions [43][44] - The company plans to monitor new patient starts and refill rates as key performance indicators in the coming quarters [44][48] Additional Insights - The product's adoption is primarily driven by enthusiastic doctors introducing it to patients during regular eye exams, with minimal consumer advertising currently in place [21][20] - The demographic data from e-pharmacy scripts indicates a slight female skew and a higher usage rate among individuals aged 45-65 [36][41]