earnings
confidence high
sentiment neutral
materiality 0.75
LENZ Therapeutics files NDA for LNZ100, reports Q2 net loss $10.3M, raises $30M via PIPE
LENZ Therapeutics, Inc.
2024-Q2 EPS reported
-$1.77
- NDA submitted to FDA for LNZ100 aceclidine eye drop for presbyopia, supported by positive Phase 3 CLARITY data.
- Q2 net loss $10.3M ($0.40/share) vs $14.7M ($7.53) in Q2 2023; R&D expenses fell to $6.9M from $12.6M.
- Cash, equivalents and securities $196.2M; pro forma after July $30M Ridgeback PIPE, $226.2M, expected to fund to post-launch positive cash flow.
- Phase 3 CLARITY: LNZ100 71% achieved 3-line near vision improvement at 3 hours, 40% at 10 hours, well-tolerated over 30,000 patient days.
- SG&A expenses rose to $7.4M from $2.3M on pre-commercial planning and public company costs.