LENZ

Image source: The Motley Fool. Tuesday, Aug. 11, 2026, at 4:30 p.m. ET Chief Financial Officer-Daniel R. Chevallard President and Chief Executive Officer-Evert Schimmelpennink Chief Commercial Officer-Shawn Olsson Chief Medical Officer-Marc Odrich Operator: Good afternoon, ladies and gentlemen, and welcome to the LENZ Therapeutics Second Quarter 26 Financial Results Conference Call. At this time, participants are in a listen-only mode. Following prepared remarks from management, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, this call is being recorded. At this time, I would like to turn the call over to Daniel R. Chevallard, Chief Financial Officer. Please go ahead. Daniel R. Chevallard: Thank you. Afternoon, and thank you for joining us today. My name is Daniel R. Chevallard, Chief Financial Officer of LENZ Therapeutics. We are joined today by Evert Schimmelpennink, our President and Chief Executive Officer Shawn Olsson, our Chief Commercial Officer and Dr. Marc Odrich, our Chief Medical Officer. Before we begin, I would like to remind you that this call will contain forward-looking statements regarding LENZ's future expectations, plans, prospects, corporate strategy, regulatory and commercial plans and expectations, cash runway projections and performance. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors and risks including those discussed in our filings with the Securities and Exchange Commission which can also be found on our website. In addition, any forward-looking statements represent only our views as of the date of this webcast and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligations to update such statements. The company encourages you to consult the risk contained in our SEC filings for additional detail including our second quarter 26 Form 10 Q which is being filed today. With that, I will now turn the call over to Abe. Evert Schimmelpennink: Thank you, Dan. Good afternoon, everyone. We are now several months post-launch. A clear view of how adoption is developing. Today, I want to share the progress we are seeing with the latest data that is helping us and how those insights are shaping our priorities for the second half of the year. Q2 reflects continued though modest growth. Encouragingly, in July, as we launched telehealth, and expanded our existing reading glass campaign on national TV we saw a significant increase in new patient starts and over 45% growth in month-over-month total prescriptions. We recognize that 1 month does not establish a trend, but these early results are consistent with the direction we hope to see. We have consistently said that the second half of the year will provide our first opportunity to assess and discuss patient persistence. Now, several quarters into launch, we have sufficient data to begin doing that. And what we are seeing is encouraging. Since launch, more than 60% of e-pharmacy patients who purchased VIZZ have purchased more than 1 multipack of VIZZ, either as part of their initial order or through a subsequent purchase. it is important to note that the e-pharmacy is the dominant sales channel and the channel where we have access to detailed patient level data. And looking at the more mature quarterly patient cohorts within that 60%, provides a promising view of repeat purchasing and refill behavior. Among patients who first purchased VIZZ, in Q4 25 and Q1 26, our first 2 cohorts of the launch. Purchasing behavior is tracking toward an average annualized purchase rate of 5 monthly packs. And our Q2 cohort is showing a very similar pattern. Though it is not yet mature enough for the same analysis. These are important proof points. Persistence is essential to building a durable patient base, and the behavior we are seeing reinforces our confidence that patients who experience the benefit of VIZZ are choosing to continue using it. It also reinforces the commercial objective in front of us. We need to continue bringing more new patients into the category, and making it easier for them to move from awareness to evaluation to treatment and ultimately to continued use. That focus has shaped our work since the last call. We have concentrated on broadening consumer awareness making VIZZ easier to introduce during routine patient conversations ensuring patients are well educated, and simplifying the path from initial interest to treatment. Our most recent initiatives were designed around those priorities Telehealth gives consumers a convenient path to evaluation by an independent licensed eye care professional and if appropriate, a prescription with home delivery. Expanding our existing campaign to national TV allows us to reach a broader group of consumers with a clear message about an alternative to reading glasses. Together, these initiatives create a more direct connection between consumer interest clinical evaluation, and access to treatment. While the July data are entirely encouraging, our focus is now on translating these signals into sustained growth. Our investments to date have helped establish this broad awareness among ECPs, expand consumer demand generation, put more convenient access pathways in place. We will use Q3 to further understand which activities are producing the greatest impact and where we can make the patient journey even simpler. And as we assess the performance of our commercial initiatives, we will use those learnings to inform both the mixed and the level of investment for the next phase of the launch. Going forward, we will need even more discipline in how we allocate capital. Concentrating resources on the activities we believe have the greatest potential to drive durable patient growth aligning our overall commercial investments with the scale and needs of the business. In parallel, we continue to make progress expanding VIZZ globally. Our partnerships now span more than 20 countries across Greater China, Southeast Asia, Canada, The Middle East, and Oceania. During the quarter, we entered into our 5th international commercial partnership, covering Australia and New Zealand. We also have 9 regulatory submissions under review, with additional submissions expected by year end. Together, these efforts are establishing the foundation for VIZZ as a global brand. In conclusion, as we enter the second half of the year, we have a clear picture of how this VIZZ opportunity can build. Patient persistence reflected in both multipack purchasing and the refill patterns emerging from more mature cohorts provides meaningful evidence that patients who experience VIZZ see lasting value and choose to continue using it. July provided encouraging early indication that our actions to broaden consumer awareness and simplify access are beginning to translate into stronger, new patient activity. We clearly understand our path forward. Build on these signals, stay focused on execution, and invest with discipline find activities that drive durable growth. We remain confident in the value VIZZ delivers and in the significant unmet need it addresses. Our job now is to translate that value into sustained patient growth, with urgency and discipline. With that, I will hand it over to Sean. Who will provide more detail on our commercial execution. Shawn Olsson: Thank you, Evert. Good afternoon, everyone. Building on Abe's comments, I would like to spend a few minutes on our commercial strategy and the actions we are taking to support the next phase of launch. Evert Schimmelpennink: First, I want to reinforce what we believe is 1 of the most important indicators we have seen since launch. Our early refill trends. Shawn Olsson: While we are still in the early stages of commercialization, the persistence we are observing gives us a product foundation to build upon as we continue to focus on driving new patient starts. With that foundation in place, our focus is squarely on expanding awareness and ease of access for new patient starts. In July, we began our national TV advertising campaign to broaden patient awareness, and we partnered with our e pharmacy provider, to launch a telehealth prescribing option to ease patient access. As we evaluated the patient journey to access VIZZ, it became increasingly clear that the journey is more involved than most consumer products. A patient may first see an advertisement, decide to learn more, schedule an appointment, be evaluated by an eye care professional, receive a sample, and then ultimately decide whether to begin prescription therapy. At each step along that journey, there is an opportunity for patients to delay or discontinue the process. Our objective has been to simplify the experience wherever possible while maintaining an appropriate standard of clinical care. That is why I believe our telehealth initiative is an important strategic addition to our commercial model. The telehealth channel provides interested consumers a convenient pathway to be evaluated by an independent licensed eye care professional at the moment of product interest. Let's take a moment to map out the patient journey to VIZZ through the telehealth channel. For example, a patient is watching TV and sees a commercial promoting VIZZ and then visits vizz.com to learn more. After exploring the site, they see real patient videos and now have decided they want to try VIZZ and click on the order VIZZ now button. This brings them to our telehealth partners website where they start the telehealth process. Now, I walk you through the telehealth process, there are 2 key components. 1, the medical screener for telehealth eligibility, which was developed by ECTs. And 2, the subsequent telehealth evaluation also performed by independent ECPs. So continuing that journey, once on the telehealth site, the patient fills out a survey on their current vision symptoms, and medical history which will confirm their potential eligibility for VIZZ through telehealth. This eligibility must be met to proceed with the telehealth assessment. In the case they are eligible to proceed, they are then evaluated by independent licensed eye care professionals to determine whether VIZZ is an appropriate treatment option. If approved, their prescription is sent to the e pharmacy partner and visits shipped directly to the patient's home. We launched this initiative concurrently with our national television campaign. Which is intended to expand consumer awareness and ultimately drive adoption of VIZZ. Together, these initiatives are designed to create a more seamless path from consumer awareness to treatment initiation. While still early, we have been encouraged by the initial level of consumer engagement, which we believe is reflected in the increase in new patient starts we observed during July. At the same time, our understanding of the eye care professional channel continues to evolve. As we shared on our previous call, aided awareness of VIZZ among eye care professionals remains in the high 90% range. While unaided awareness exceeds 80%. Those metrics tell us that VIZZ is well recognized within the iQIY community as a treatment option for presbyopia. And we believe we have successfully achieved our primary awareness objectives with ECPs. However, ECP awareness alone has not consistently translated into recurring prescribing behavior. Evert Schimmelpennink: While over 13 thousand physicians have prescribed VIZZ, and over 75% of them have prescribed multiple times, we see that this discussion is often being consumer initiated. As a result, we have increasingly focused our commercial investments on stimulating consumer demand. Shawn Olsson: With the expectation that informed patients requesting VIZZ by name will serve as an important catalyst for future prescription growth. Overall, we are encouraged by our recent progress. Evert Schimmelpennink: The combination of positive early patient persistence, expanded access through telehealth, and growing consumer awareness provides a foundation for the next phase of VIZZ's commercial growth. Shawn Olsson: With that, I will turn the call over to Daniel to review our financial results. Daniel R. Chevallard: Thank you, Sean. As both Abe and Sean have discussed, we have kicked off the second half of 26 with the July launch of telehealth and our nationwide TV advertising campaign. These strategic initiatives were purposely designed to designed to drive broad consumer awareness and address the key hurdles of product access by providing consumers with a safe and convenient way to be evaluated by an independent licensed eye care professional online and directly integrated into our e pharmacy fulfillment for home delivery. As has been mentioned, we are encouraged by the change in our recent script trends, suggesting an over 45% increase in July scripts. Compared to June. Reflecting on Q2, we recorded total revenues of $5.5 million including over $1.7 million in product revenue on approximately 27 thousand monthly packs sold. a 9% increase over Q1 and $3.8 million in license revenue from our ex U. S. Global partnership agreements. Q2 license revenue included the first regulatory milestone payment under our license agreement with Théa. Upon submission of its new drug submission to Health Canada, In addition to the first sublicense milestone payment, in conjunction with the asset purchase agreement between Everest Medicine and Corxel. For the rights to VIZZ in Greater China. I will provide a further update on our global commercialization efforts for VIZZ in a moment. Turning now to operating expenses. Our cost of sales on second quarter product revenue totaled $300 thousand and we continue to anticipate this to trend to approximately 90% direct product gross margin over time. Total SG&A expenses decreased to $39.4 million in the second quarter or approximately $34.9 million adjusted to exclude non cash stock based compensation. On an adjusted basis, this was a 14% quarter-over-quarter decline from Q1 which was in line with our expectations given our Q1 DTC launch investment. Consistent with prior quarters, approximately 80% of our SG&A was driven by sales and marketing, with the remaining representing general and administrative expenses. Total research and development expenses remained zero in the second quarter of 26 consistent with recent prior quarters. Our Q2 net loss per share, both basic and diluted, was $1.02 per share in the quarter on a net loss of $31.9 million and we ended the second quarter with approximately $220 million in cash, cash equivalents and marketable securities. Looking ahead, we will be deliberate in our capital allocation. Directing our investments toward the initiatives with the greatest potential to drive new patient adoption. We believe this disciplined approach positioned us positions us to build a durable, consumer driven franchise while maintaining a strong financial foundation. Before I hand the call back over to I wanted to take a moment to provide an update on our global licensing and commercialization efforts. As we have discussed on previous calls, we see VIZZ as a global product. And with a worldwide population of over 1.8 billion adults with presbyopia, we view the opportunity to expand our commercial footprint as an important and promising 1. In Q2, we signed a commercialization agreement with Corxel Pharmaceuticals a leading Australian pharmaceutical company and Australia's largest supplier of medicines by prescription volume. This is our 5th ex-U.S. commercialization partnership for VIZZ which now including Oceania spans Greater China, Southeast Asia, Canada, and The Middle East region. We currently have 9 regulatory submissions under review, and we anticipate multiple additional submissions and potential ex US regulatory approvals by the end of this year. We remain focused on further expanding our global network in additional strategic geographies and we look forward to reporting additional progress in the months and the quarters ahead. Evert Schimmelpennink: With that, I will turn the call back over. Thanks, Daniel. To close, I am proud of the LENZ team and the work behind the progress. We discussed today. We now have meaningful evidence that patients who experience VIZZ see value and choose to continue using it. We have also begun to see encouraging new patient activity as we broaden awareness and simplify access. Our priorities for the second half are clear. We will build on these signals, stay focused on sustained patient growth, and align our investments with the initiatives producing the strongest results. We remain confident in the opportunity for VIZZ. And committed to pursuing it with urgency and discipline. And with that, I would like to open the call for questions. Operator: We will now begin the question-and-answer session. To ask the question, you will need to press star, then the number 1 on your telephone keypad. If you would like to withdraw your question, press star, 1 again. We will pause for just a moment to compile the Q&A roster. Your first question comes from the line of Stacy Ku with TD Cowen. Your line is open. Stacy Ku: Hey. Good afternoon. Guys, and thanks so much for taking our questions. So, we have a couple. First is on the refill dynamics where we appreciate of you giving us this level of detail, but maybe put it in put it in the context of other presbyopia, I drop products, What strategies is the team employing to keep these patients? So that is the first. And then second, if you think about the telehealth launch, maybe speak to the level of comfort around the safety profile. Just a second. And then last, I know it is still early days, but when would you expect to see nationwide TV advertising drive prescription growth? And as a reminder, just help us understand where you are prioritizing investment, when it comes to commercial strategies that are working. Thanks so much. Shawn Olsson: Great. Thank you, Stacy. This is Sean. So first, on the refill dynamics as well as the strategies we are taking to make sure that we continue to see those strong repeat dynamics. So when you think of the refill dynamics, what we focused on is our e pharmacy channel because that is where we can see that patient level data. And we also look at the cohorts that are the most mature. So that would be people that bought for the first time in Q4 of 25, in Q1 of 26. And what is great to see is of those cohorts, you know, 60% of those e pharmacy patients have purchased more than 1 monthly pack. So that includes patients who purchased multiple packs on their initial order, as well as patients who returned for subsequent purchases. The other thing that is important to understand is we focus on the e pharmacy channel not only because we can see the data at the patient level, but it is also our dominant channel as well. Evert Schimmelpennink: what is great when we are looking at this data is if we look at that Q4 cohort, we are seeing on average they have now already purchased slightly more than 5 packs. And they had not come up on a year yet. And that Q1 cohort is trending to 5 as well. The Q2 cohort is not yet mature enough, but we are still seeing that similar early pattern, which is great. Shawn Olsson: So when we think of our product, this was really important because it means we have a presbyopia product out there that works, and people want to continue to refill. Obviously, some of their early launches in this space, they were able to get early uptake, but that refill was not there. This, we feel, really speaks to the durability of our product. In terms of the strategy that we are employing to make sure that we continue to see high repeat rates, I think the number 1 thing that you really need is an eye drop that works. And we are excited that we have an eye drop that works for 10 hours. In addition to that, the e pharmacy channel allows that option to buy 3 months at a time at a discounted rate And then as we have launched this telehealth channel, that also enables the opportunity to buy 3 months at a time, enter into an auto renew cycle, and you get that long duration at a discounted rate. So that is what is going on with the refill dynamics In terms of telehealth and the comfort of safety. Evert Schimmelpennink: what is great about the telehealth channel is that we have great safeguards around that channel in general. The telehealth patients are screened for appropriateness by fully licensed eye care physicians, Right? They have to have no history of retinal complications. And be an appropriate candidate for VIZZ and have a recent retinal exam within the past 24 months. And then after that, still an independent eye care physician evaluates that patient history and suitability prior to prescribing VIZZ, or if they feel it is necessary, they will actually recommend a visit to a doctor in person if they do not qualify for telehealth. Shawn Olsson: In terms of the TV channel, so our TV campaign, that went live July 6. You know, we are already seeing lift from that national TV campaign, which is great to see. And, you know, we will expect to continue that on because of that lift we have seen. We have seen it in the access to the telehealth channel because that is what announced telehealth. But we also see the lift in the other channels as well. Evert Schimmelpennink: But to your final question or questions, and then Stacy have to answer those. Like, how do we compare against other presbyopia drugs? Frankly, we do not see we have to see a lot of traction with the current ones on market. And you compare us to VUITY, interestingly, we are we are now actually selling more on a weekly or monthly basis than VUITY. And importantly, if you compare the VUITY refill rate at that peak, it was about 10% to 12%. We are tracking at that 42%. Of those people that refill that become users of VIZZ that we have always spoke about. So we are very pleased to see that And I have a last question around, you know, how do we expect to do that? Like I mentioned in my remarks, the commercial investments that we made so far have been appropriate. It really helps establish VIZZ, you know, build broad brand awareness among ECPs, to expand consumer demand generation And, you know, with the telehealth, we now have numerous access pathways in place. So we know we are doing now as we move through Q3. We are really assessing the performance of each of those initiatives. Generating the data that allows us to continue to adapt both the mix as well as the level of investments. We feel we need for this next phase in the launch. Obviously, concentrating resources where we believe we have the greatest potential to drive durable growth. All of that is based on, obviously, the confidence we have in the value opportunity for VIZZ. While also remaining very disciplined in how we allocate capital. as a company. Stacy Ku: Incredibly helpful. Thank you. Operator: Your next question comes from the line of Yigal Nochomovitz with Citi. Your line is open. Yigal Nochomovitz: Hey, guys. Great. Thank you for taking the questions. I also have a few here. So just first off, could you just remind us you said e pharmacy is the majority of the revenue base, but if you could quantify or give a little more direction on that comment. And then with regard to the retail, so, obviously, you have the visibility in the e pharmacy. But in retail, I guess, are you saying that you just do not have the data, so therefore, you cannot track the refill dynamics and the, you persistence, or is there a different conclusion as far as, you know, the persistence in the in the retail side of the business. And then if you could just comment a little bit on the disciplined spend, where are going to invest more, or where are gonna decelerate versus accelerate? Thank you. Shawn Olsson: So Yigal, thank you for the question. So yeah, so the e pharmacy is the predominant avenue of where most of our scripts go through. And, you know, ultimately, we see little over 60% of our scripts are going through that e pharmacy channel. And, again, we have the most access to that data, so we do a lot of our analytics off of it. In terms of the retail channel, you know, I think as many investors have seen, the retail pickup of this whether it be through Symphony or IQVIA, has been, you know, fairly poor and limited. And, unfortunately, because of that, we cannot do a good assessment off of that data set. Evert Schimmelpennink: Thanks, Shawn. To your question as to where we will adjust, going back to what I just mentioned earlier as well, it will be driven by the data that we will generate in Q3. And that will inform us for this next phase. it is fair to say that the principle is clear. We will align our commercial investments with demonstrated performance, what is truly driving scripts, and the scale and needs of the business will be appropriate. For what we are building. We will keep you all informed as appropriate and once we have made any more final decisions. Yigal Nochomovitz: Okay. Thanks, Ed. I just had 1 quick follow-up, which is more of just a technical thing. So the revenue was $1.7 million in the quarter as well as last quarter, but you had 2,000 more packs, so it is a 9% increase Q-over-Q. Just can you just clarify the dynamics there regarding the volumes price equation? Thanks. Daniel R. Chevallard: Sure. Thanks, Yigal. This is Daniel. So the 9% is a volume based metric on units that shipped. Gross-to-net in general was the same. Also, what was in Q2 would have included, and we will continue to include periodically revenues ex-U.S. The 9% is on an absolute volume basis of units that were shipped in the second quarter compared to the first. Thank you. Operator: Your next question comes from the line of Marc Goodman with Leerink Partners. Your line is open. Alyssa Larios: This is Alyssa on for Marc. Thank you for taking our questions. I have 2. So regarding the telehealth platform, can you comment on proportion of online form submissions ultimately results in a scheduled visit with a provider versus an asynchronous prescription, and how long does that screening questionnaire take? To just submit. Then secondly, can you comment on the patient mix and if it is evolved since the launch of the nationwide DTC campaign? Thank you. Shawn Olsson: Hi, Alyssa. This is Sean again. Thanks for your question. So yes. So with the telehealth platform, what is great is we want to see volumes going through it. Like, that is number 1. But we also wanna see that it is screening out patients. Both through the screening process, but also that after the patient goes through telehealth, some people, you know, then actually informed they need to go to a doctor and do not proceed with the telehealth, because that is a functioning system. So we are seeing that some patients are being screened out in both the screener as well as during the telehealth visit. We have not broken out those numbers publicly, but it is good to see that. In terms of filling out the survey, really only takes a few minutes to fill out the survey. So it is not a overcomplicated process. And, again, that was developed by ECPs to make sure it had the right screening criteria. In terms of the mix pre and post TV really not a big change there in terms of mix. Overall, in general, it is about, you know, 60% women and 40% men purchasing the products. And, also, again, we are seeing a slightly higher interest in that 45- to 55 age group. And it kind of steps down over 65. So no big change in the patient profile. Great. Thank you. Operator: Your next question comes from the line of Lachlan. Hanbury Brown with William Blair. Your line is open. Lachlan Hanbury-Brown: Hey, guys. Thanks for the question. Maybe just 1 on the telehealth to start. Can you just talk about the sort of early adoption there? You talked about the good script trends we are seeing in July being up about 45%. Mean, is that primarily being driven by sort of incremental scripts going through telehealth or you know, is that maybe only part of it and some of it is being driven by maybe the DTC? Or TA campaign driving. People into the doctor. And then second question, on the stat on average refills of 5 packs per year, Just wanted to confirm that is that just among the 60% that do refill? And related could you maybe break out the number that fill a 3-pack to start with versus who sort of placed the second order? Evert Schimmelpennink: Hi Lachlan, I will take the first question. Just to make sure that we got the question right. I think your question was, is the growth that we saw month over month due to July driven by telehealth, and is it, you know, maybe impacting the other channels. The good news here is that we see that actually the combination with the TV, the national TV campaign drove all channels up. So telehealth definitely has a significant part of the increase but it did not come at the expense of other channels. So we see good and encouraging growth in the other channels as well. So, again, all channels are up in July versus June. Shawn Olsson: Yep. And then in terms of your question on the 5 packs per year, So the 5 packs per year, Yes. So that is for the 60% of patients. In e pharmacy that have purchased multiple times or multiple monthly packs. Right? So that is how it is calculated. You know, that leaves the other 40% at that single purchase, so you can you can back into the full math off of that. Evert Schimmelpennink: In terms of those that buy, you know, a 1-pack or 3-pack for the first pack, you know, Again, we tend to see people move along that path. We have seen people start with a 1-pack and then move to a 3-pack. We have not broken out that first start of 1-pack versus 3 pack. Lachlan Hanbury-Brown: Got it. Thanks. Operator: Okay. And that concludes our question and answer session. As I am showing no further questions, Thank you for your participation, and we will now conclude today's conference call. You may now disconnect. Before you buy stock in Lenz Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lenz Therapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed a 45% month-over-month increase in July prescriptions to the simultaneous launch of a national TV campaign and a new telehealth access pathway. The company is pivoting its commercial investment toward stimulating consumer demand, noting that while ECP awareness is high (90%+), actual prescribing behavior is increasingly consumer-initiated. Performance data indicates that the e-pharmacy channel remains the dominant sales route, accounting for over 60% of total prescriptions and providing the most granular patient data. Management highlighted that patient persistence is a key differentiator for VIZZ, with mature cohorts are tracking toward an average annualized purchase rate of 5 monthly packs among the 60% of patients who made repeat or multiple purchases. The strategic focus has shifted from broad ECP education to simplifying the 'patient journey' by removing friction points between initial awareness and treatment initiation. Global expansion remains a core pillar, with five international partnerships now covering over 20 countries and nine regulatory submissions currently under review. Q3 will serve as a critical assessment period to determine which commercial activities drive the highest ROI, informing the mix and level of investment for the next launch phase. Management intends to exercise increased capital discipline, aligning commercial spend more closely with the demonstrated scale and needs of the business. The company expects multiple additional international regulatory submissions and potential approvals by the end of the year to expand the global brand footprint. Future growth assumptions rely on the ability of telehealth to convert consumer interest into prescriptions by providing a convenient, independent clinical evaluation path. Management anticipates that direct product gross margins will trend toward approximately 90% over time as the commercial scale increases. Q2 revenue of $5.5 million included $3.8 million in license revenue triggered by regulatory and sublicense milestones in Canada and Greater China. Adjusted SG&A expenses declined 14% quarter-over-quarter, reflecting a normalization of spend following the initial Q1 direct-to-consumer launch investment. The company maintains a strong liquidity position with approximately $220 million in cash and equivalents to support the next phase of commercialization. Telehealth protocols include mandatory medical screeners and independent ECP evaluations to ensure safety, including verification of a recent retinal exam. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management stated that VIZZ is currently outselling the primary competitor, VUITY, on a weekly/monthly basis. Refill rates for VIZZ are tracking at 42% among the user base, significantly higher than the 10-12% refill rates observed for VUITY at its peak. The July growth was not limited to telehealth; management confirmed that the national TV campaign drove incremental volume across all channels, including traditional ECP visits. Telehealth is viewed as a complementary 'seamless path' rather than a replacement for in-person eye care professional consultations. Management admitted that retail pickup data from sources like Symphony or IQVIA has been 'fairly poor and limited,' making it difficult to track persistence in that channel. Because e-pharmacy represents over 60% of volume and provides superior data, it remains the primary metric for assessing long-term patient behavior. The telehealth screening process takes only a few minutes and is designed to screen out inappropriate candidates, such as those with a history of retinal complications. Patient demographics remain consistent post-TV launch, skewing 60% female and 40% male, with the highest interest in the 45-55 age bracket.

This article first appeared on GuruFocus. Total Revenue: $5.5 million in Q2 2026. Product Revenue: Over $1.7 million, from approximately 27,000 monthly packs sold, a 9% increase over Q1. License Revenue: $3.8 million from ex-US global partnership agreements. Cost of Sales: $0.3 million on product revenue; company anticipates trending to approximately 90% direct product gross margin over time. SG&A Expenses: $39.4 million in Q2, or approximately $34.9 million adjusted to exclude non-cash stock-based compensation; a 14% quarter-over-quarter decline on an adjusted basis. R&D Expenses: Zero in Q2 2026. Net Loss: $31.9 million, or $1.02 per share (basic and diluted). Cash Position: Approximately $220 million in cash, cash equivalents, and marketable securities at end of Q2. Prescription Growth: Over 45% increase in July scripts compared to June. Physician Prescribers: Over 13,000 physicians have prescribed VIZZ, with over 75% prescribing multiple times. Warning! GuruFocus has detected 2 Warning Sign with LENZ. Is LENZ fairly valued? Test your thesis with our free DCF calculator. Release Date: August 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. LENZ Therapeutics Inc (NASDAQ:LENZ) reported a 45% month-over-month increase in total prescriptions in July, driven by the launch of telehealth and national TV advertising. Patient persistence is strong, with over 60% of ePharmacy patients purchasing more than one monthly pack, and mature cohorts tracking toward an average annualized purchase rate of five packs. The company has expanded its global footprint with a fifth international partnership (Australia/New Zealand) and has nine regulatory submissions under review. LENZ Therapeutics Inc (NASDAQ:LENZ) maintains a strong cash position of approximately $220 million, providing a solid runway for commercial execution. The telehealth channel provides a convenient, safe pathway for patients, with screening by licensed eye care professionals, and is contributing to script growth without cannibalizing other channels. Q2 product revenue growth was modest at only 9% quarter-over-quarter, indicating slow adoption in the early launch phase. Retail channel uptake remains poor, limiting visibility into persistence and refill behavior outside the ePharmacy channel. The company acknowledges that ECP awareness has not consistently translated into prescribing behavior, with discussions often consumer-initiated. LENZ Therapeutics Inc (NASDAQ:LENZ) is still in early stages of assessing the impact of its commercial initiatives, with no clear data on which investments will yield durable growth. The company faces the challenge of converting consumer interest into actual prescriptions, with a complex patient journey that includes multiple steps where patients may drop off. Q: Can you provide more detail on patient persistence and refill dynamics for VIZZ, and how does this compare to other presbyopia eye drops?A: Shawn Olsson, Chief Commercial Officer, reported that over 60% of ePharmacy patients have purchased more than one monthly pack. For the more mature cohorts (Q4 2025 and Q1 2026), purchasing behavior is tracking toward an average annualized purchase rate of five monthly packs. CEO Eef Schimmelpennink added that this compares favorably to VUITY, which had a peak refill rate of only 10%-12%, while LENZ is tracking at 42% for those who refill. This data provides meaningful evidence that patients who experience VIZZ see lasting value and choose to continue using it. Q: What drove the over 45% month-over-month increase in total prescriptions in July, and is this growth primarily from the new telehealth channel?A: CEO Eef Schimmelpennink clarified that the growth was driven by the combination of the national TV campaign and the telehealth launch, which drove all channels up. Telehealth contributed a significant portion of the increase, but importantly, it did not come at the expense of other channelsall channels saw encouraging growth in July versus June. The national TV campaign went live July 6, and the company is already seeing lifts from it across all access points. Q: What is the breakdown of the e-pharmacy versus retail channel, and can you assess persistence in the retail channel?A: Shawn Olsson noted that the e-pharmacy channel represents a little over 60% of scripts and is the dominant sales channel where the company has detailed patient-level data. In contrast, retail take-up of VIZZ has been "fairly poor and limited" according to Symphony Health or IQVIA data, making it difficult to assess refill dynamics in that channel. The company's persistence analysis is therefore based primarily on the e-pharmacy data where visibility is strongest. Q: How does the telehealth platform ensure patient safety, and what is the patient journey through this new channel?A: Shawn Olsson explained that the telehealth channel has robust safeguards. Patients are screened for appropriateness by fully licensed eye care physicians, must have no history of retinal complications, and need a recent retinal exam within the past 24 months. An independent eye care physician evaluates each patient's history and suitability before prescribing VIZZ, and may recommend an in-person visit if the patient does not qualify for telehealth. The process includes a medical screener developed by ECPs, followed by a telehealth evaluation, with prescriptions sent to the e-pharmacy partner for home delivery. Q: What were the key financial results for Q2 2026, and how is the company approaching capital allocation going forward?A: CFO Daniel Chevallard reported total revenues of $5.5 million, including over $1.7 million in product revenue on approximately 27,000 monthly packs sold (a 9% increase over Q1) and $3.8 million in license revenue from ex-US partnerships. Adjusted SG&A decreased 14% quarter-over-quarter to $34.9 million. The company ended Q2 with approximately $220 million in cash. Going forward, management emphasized a disciplined approach to capital allocation, directing investments toward initiatives with the greatest potential to drive new patient adoption while aligning commercial investment with the scale and needs of the business. Q: What is the status of the global expansion efforts for VIZZ?A: CFO Daniel Chevallard highlighted that LENZ signed a commercialization agreement with Arrotex Pharmaceuticals in Q2, covering Australia and New Zealandthe company's fifth ex-US partnership. The global network now spans Greater China, Southeast Asia, Canada, the Middle East, and Oceania, covering more than 20 countries. There are currently nine regulatory submissions under review, with multiple additional submissions and potential ex-US regulatory approvals anticipated by the end of the year. Q: What proportion of telehealth form submissions result in a scheduled visit or prescription, and how long does the screening take?A: Shawn Olsson stated that the company is seeing some patients being screened out both during the initial screener and during the telehealth visit, which indicates the system is functioning properly to filter inappropriate candidates. While specific numbers were not broken out publicly, the survey itself only takes a few minutes to complete. The screening criteria were developed by ECPs to ensure appropriate patient selection for VIZZ. Q: Has the patient mix changed since the launch of the nationwide DTC campaign?A: Shawn Olsson reported that there has been no significant change in patient mix pre- and post-TV campaign. The profile remains approximately 60% women and 40% men purchasing the product, with slightly higher interest in the 45-55 age group, stepping down over age 65. The patient demographics have remained consistent despite the expanded consumer awareness efforts. Q: Can you clarify the revenue dynamicsQ2 product revenue was similar to Q1 despite 2,000 more packs sold?A: CFO Daniel Chevallard explained that the 9% increase is a volume-based metric on units shipped. Gross-net pricing was generally the same, though there will be some fluctuation quarter to quarter. Q2 also included periodic ex-US revenues. Overall, the revenue per unit remained similar, with the growth driven by absolute volume of units shipped in the second quarter compared to the first. Q: How is the company planning to adapt its commercial investment strategy based on early results?A: CEO Eef Schimmelpennink stated that the company will use Q3 to assess the performance of each commercial initiative and generate data to inform both the mix and level of investment for the next phase of the launch. The principle is clear: align commercial investments with demonstrated performance and what is truly driving scripts. The company will concentrate resources where there is the greatest potential to drive durable growth while remaining disciplined in capital allocation. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q2 2026 total revenue of $5.5 million from VIZZ product sales and global license agreements Strong patient persistence, with over 60% of patients in our dominant ePharmacy channel purchasing multiple monthly packs since launch, tracking to five packs annually VIZZ prescription growth accelerated with launch of telehealth channel in July 2026 Management to host conference call today, August 11, 2026, at 4:30 p.m. EDT SAN DIEGO, Aug. 11, 2026 (GLOBE NEWSWIRE) -- LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first and only aceclidine-based eye drop for the treatment of presbyopia, today reported financial results for the second quarter ended June 30, 2026, and recent corporate highlights. “We are encouraged by the early refill behavior we are seeing with VIZZ. The majority of ePharmacy patients have purchased multiple monthly packs since launch, and among those patients, our Q4 2025 and Q1 2026 cohorts are tracking to average annualized utilization of five packs per patient. These trends reinforce the value VIZZ is delivering in the real world,” said Eef Schimmelpennink, President and Chief Executive Officer of LENZ Therapeutics. “Our focus is now on bringing more consumers into the category and making access as seamless as possible. Through telehealth, eligible consumers can be evaluated online by an independent licensed eye care professional and, if prescribed, receive VIZZ at home. Together with our national ‘Tired of Reading Glasses’ campaign, telehealth is designed to more readily convert awareness into adoption. While it is still early, the initial indicators are encouraging, and we believe we are building the foundation for sustained growth driven by consumers.” Second Quarter 2026 and Recent Corporate Highlights Commercial Launch Q2 2026 product revenues of over $1.7 million on approximately 27,000 packs sold, a 9% increase over Q1 2026. Over 60% of ePharmacy patients have purchased more than one monthly pack of VIZZ since launch; encouraging early average projected refill rates from those starting VIZZ in Q4 2025 and Q1 2026 of 5 packs per year. Broad uptake by eye care professionals (“ECPs”), with over 13,000 unique prescribers from launch through Q2 2026, with approximately 75% prescribing multiple times. In July 2026, launched a telehealth prescribing option to accelerate patient access to VIZZ, offering patients the convenience of an integrated online evaluation by independent licensed eye care providers, e-pharmacy prescription fulfillment, and home delivery, in addition to existing access through eye care professionals. In July 2026, launched a nationwide TV advertising campaign featuring brand spokesperson Sarah Jessica Parker. Advancing Global Commercialization Strategy and Expanding International Partnerships In April 2026, LENZ submitted a Marketing Authorization Application (“MAA”) to the United Kingdom's Medicines and Healthcare products Regulatory Agency (“MHRA”) for the review and approval of VIZZ for the treatment of presbyopia in adults. The MHRA submission followed validation of the VIZZ MAA by the European Medicines Agency in March 2026. In June 2026, LENZ announced an exclusive license and commercialization agreement with Arrotex Pharmaceuticals to register and commercialize VIZZ for the treatment of presbyopia in Australia and New Zealand, its fifth ex-U.S. commercialization partnership. Under the terms of the agreement, LENZ received an upfront payment and is eligible to receive a mid double-digit profit share of gross margin from product sales in Australia and New Zealand. In June 2026, LENZ achieved its first regulatory milestone under the License and Commercialization Agreement with Laboratoires Théa upon the submission of its New Drug Submission to Health Canada for the review and approval of VIZZ for the treatment of presbyopia in adults in Canada. Under the terms of the agreement, LENZ is eligible to receive up to $65 million in remaining regulatory and commercial milestone payments, as well as tiered, double-digit royalties on future net sales in Canada. In June 2026, Everest Medicines entered into an Asset Purchase Agreement with CORXEL Pharmaceuticals to acquire the rights to develop, manufacture, and commercialize VIZZ (LNZ100) in Greater China. LENZ is eligible to receive up to $85.0 million in remaining regulatory and sales milestones, as well as tiered mid single-digit to low double-digit royalties on net sales in Greater China. LENZ has received the first of multiple potential milestone payments under this sublicensing arrangement in connection with the execution of the agreement between CORXEL and Everest. In July 2026, under the exclusive distribution agreement with Lunatus for the Middle East region, the MAA was submitted under the Saudi Food and Drug Authority’s Abridged Pathway for the treatment of presbyopia in the Kingdom of Saudi Arabia. This submission represents the ninth ex-U.S. regulatory filing for VIZZ. Financial Results for Three and Six Months Ended June 30, 2026 Cash Position: Cash, cash equivalents and marketable securities were $220.0 million as of June 30, 2026. Product Sales, net: Product sales, net was $1.7 million and $3.4 million for the three and six months ended June 30, 2026, respectively, driven by approximately 27,000 and 52,000 packs sold and delivered to the customer in the respective periods. We had no product sales during the three and six months ended June 30, 2025. License Revenue: License revenue was $3.8 million and $4.0 million for the three and six months ended June 30, 2026 including a $2.5 million regulatory milestone reached under the Théa license agreement and $1.25 million in sublicense revenue related to the asset purchase agreement by Everest Medicines to acquire the rights to VIZZ in Greater China during the three months ended June 30, 2026, and the upfront payment under the Lunatus exclusive distribution agreement in the six months ended June 30, 2026. License revenue was $5.0 million during the same periods in 2025 related to the upfront payment under the Lotus license agreement. Cost of Sales: Cost of sales was $0.3 million and $1.4 million for the three and six months ended June 30, 2026, respectively. Direct product cost of sales in connection with the sales of VIZZ was $0.3 million for the three and six months ended June 30, 2026. Total cost of sales during the six months ended June 30, 2026 was comprised primarily of non-recurring events recognized in the first quarter related to a manufacturing process transition and unrelated to product sales. There was no cost of sales during the three and six months ended June 30, 2025. Selling, General and Administrative (“SG&A”) Expenses: SG&A expenses increased to $39.4 million and $84.3 million for the three and six months ended June 30, 2026, compared to $12.8 million and $23.9 million during the same respective periods in 2025, primarily driven by our launch investment, with increases in commercial marketing, advertising, sales infrastructure expenses, and personnel-related expenses due to a growth in headcount, including the hiring of our sales force. These amounts include non-cash stock-based compensation expense of $4.4 million and $8.7 million for the three and six months ended June 30, 2026, respectively, and $2.1 million and $4.0 million for the three and six months ended June 30, 2025, respectively. Research and Development (“R&D”) Expenses: There were no R&D expenses for the three and six months ended June 30, 2026, compared to $9.1 million and $14.9 million during the same respective periods in 2025 due to the FDA approval of VIZZ in July 2025. Net Loss: Net loss for the three and six months ended June 30, 2026 was $31.9 million and $73.4 million, respectively, or $1.02 and $2.34 per share (basic and diluted), respectively, compared to a net loss of $14.9 million and $29.5 million, respectively, or $0.53 and $1.06 per share (basic and diluted), respectively, during the same periods in 2025. Conference Call InformationThe Company will host a conference call and webcast today, Tuesday, August 11, 2026, at 4:30 p.m. EDT. To participate in the conference call via telephone, dial (800) 715-9871 (Domestic) or (646) 307-1963 (International) and enter code 2922111. The live webcast can be accessed here and on the LENZ Therapeutics website at www.LENZ-tx.com in the Investors & Media section. A replay of the webcast will be available on the Company’s website for 30 days following the event. About Presbyopia Presbyopia is the inevitable loss of near vision associated with aging, impacting the daily lives of nearly all people over the age of 45. As people age, the crystalline lens in their eyes gradually hardens and becomes less able to change shape. This loss of elasticity reduces the lens's ability to focus incoming light from near objects onto the retina. Adults over 50 years of age lose, on average, 1.5 lines of near vision every six years. Although the progression of presbyopia is gradual, presbyopes often experience an abrupt change in their daily life as the symptoms become more pronounced starting in their mid-40s, when reading glasses or other corrective aids are suddenly necessary to read text or conduct close-up work. Presbyopia is typically self-diagnosed and self-managed with over-the-counter reading glasses, or managed, after evaluation by an ECP, with prescription reading or bifocal glasses or multifocal contact lenses. About VIZZ (aceclidine ophthalmic solution) 1.44% VIZZ (aceclidine ophthalmic solution) 1.44% is a once-daily eye drop developed to restore clear near vision for up to 10 hours. Aceclidine is the sole active ingredient in VIZZ and provides rapid and durable near vision improvement. VIZZ is preservative-free and provided in single-dose vials. VIZZ is a predominantly pupil selective miotic that interacts with the iris with minimal ciliary muscle stimulation. VIZZ causes contraction of the iris sphincter muscle, resulting in a pinhole effect that extends depth of focus to improve vision. For more information, please visit www.VIZZ.com. VIZZ Indication and Important Safety Information INDICATION VIZZ (aceclidine ophthalmic solution) 1.44% is a prescription eye drop used to treat age-related blurry near vision (presbyopia) in adults. IMPORTANT SAFETY INFORMATION Do not use VIZZ if allergic to any of the ingredients. To help avoid potential eye injury or contamination of the product, do not allow the vial tip to touch the eye or any surfaces. Discard the opened vial immediately after use. Contact lenses should be removed before using VIZZ. After dosing, contact lenses can be reinserted after 10 minutes. If using more than one topical eye medication, the medicines should be administered at least 5 minutes apart. Temporary dim or dark vision may be experienced after using VIZZ. Do not drive or operate machinery if vision is not clear. Seek immediate medical care if sudden onset of flashing lights, floaters, or vision loss is experienced. ADVERSE REACTIONS The most common reported adverse reactions of participants were instillation site irritation (20%), dim vision (16%), and headache (13%). Adverse reactions reported in >5% of participants were conjunctival hyperemia (8%) and ocular hyperemia (7%). The majority of adverse reactions were mild, transient, and self-resolving. For additional information, please see the full Prescribing Information available at http://www.VIZZ.com/full-prescribing-information.pdf About LENZ Therapeutics LENZ Therapeutics is a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the United States. LENZ is commercializing VIZZ in the United States and continues to establish licensing partnerships internationally to provide access to VIZZ globally. LENZ is headquartered in San Diego, California. For more information, visit www.VIZZ.com and www.lenz-tx.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws. You can identify forward-looking statements by words such as “may,” “will,” “could,” “can,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “poised,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, but not all forward-looking statements will contain these words. Forward-looking statements in this press release include statements regarding LENZ’s plans regarding the launch of its telehealth platform; the belief that the launch of the telehealth platform alongside LENZ’s sales and marketing activities will help accelerate consumer awareness, access and adoption of VIZZ, and the belief that LENZ is building the foundation for sustained growth driven by consumers; the potential market size for VIZZ; the belief that the telehealth platform will provide a seamless and convenient consumer journey from product interest to home delivery; LENZ’s commercialization plans, including international partnering plans and expectations under existing commercial arrangements, including the potential achievement of milestones under such agreements; projected refill rates; and the quotations of LENZ management. These statements are based on numerous assumptions concerning VIZZ, target markets and involve substantial risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievement to be materially different from the information expressed or implied by these forward-looking statements, including those risk factors described in the section titled “Risk Factors” in our Quarterly Report on Form 10-Q to be filed for the quarter ended June 30, 2026 and our subsequent filings with the SEC. We cannot assure you that the forward-looking statements in this press release or the assumptions upon which they are based will prove to be accurate. The forward-looking statements in this press release are as of the date of this press release. Except as otherwise required by applicable law, LENZ disclaims any duty to update any forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Contact:Dan Chevallard LENZ [email protected]

Interested in LENZ Therapeutics, Inc.? Here are five stocks we like better. Q2 revenue reached $5.5 million, including more than $1.7 million in VIZZ product revenue and $3.8 million from ex-U.S. licensing agreements. VIZZ volume rose 9% from the prior quarter to approximately 27,000 monthly packs. July prescriptions grew more than 45% month over month after the launch of national television advertising and a telehealth access option. LENZ said more than 60% of e-pharmacy patients who purchased VIZZ bought multiple packs, indicating promising repeat-purchase activity. LENZ ended the quarter with about $220 million in cash and marketable securities, while adjusted SG&A declined 14% sequentially. The company also expanded its international partnership network through an Australia and New Zealand agreement and reported nine regulatory submissions under review. LENZ Therapeutics (NASDAQ:LENZ) reported second-quarter revenue of $5.5 million as it continued the commercial launch of VIZZ, citing modest quarterly growth and a pickup in prescription activity following the July rollout of national television advertising and a telehealth access option. Product revenue totaled more than $1.7 million on approximately 27,000 monthly packs sold, representing a 9% increase in volume from the first quarter. The company also recorded $3.8 million in license revenue tied to its ex-U.S. partnership agreements. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat Chief Executive Officer Evert Schimmelpennink said July brought a significant increase in new patient starts and more than 45% month-over-month growth in total prescriptions. He cautioned that one month does not establish a trend, but said the early results were consistent with the company’s expectations for its consumer-awareness and access initiatives. Management emphasized early refill and repeat-purchase trends as a key indicator of VIZZ’s commercial potential. Since launch, more than 60% of e-pharmacy patients who purchased VIZZ have bought more than one monthly pack, either as part of their initial order or in later purchases, according to the company. → 3 Dividend Champion Utilities for a Market That Can't Sit Still The e-pharmacy channel accounts for a little more than 60% of prescriptions and is LENZ’s dominant sales channel, Chief Commercial Officer Shawn Olsson said. It also provides the company with patient-level data not available from retail channels. For patients first purchasing in the fourth quarter of 2025 and first quarter of 2026, LENZ said purchasing behavior was trending toward an annualized average of five monthly packs among the 60% of e-pharmacy patients who purchased multiple packs. The second-quarter cohort has shown a similar early pattern but is not yet mature enough for the same analysis. → Is Wingstop's Growth Story Losing Steam? Olsson said the company is seeking to support refills through its e-pharmacy channel, including discounted three-month purchases. The recently launched telehealth option also allows patients to purchase three-month supplies and enter an auto-renew cycle. During the question-and-answer session, Schimmelpennink compared the company’s refill performance with VUITY, saying LENZ was now selling more on a weekly or monthly basis than that product. He said VUITY’s refill rate at its peak was about 10% to 12%, while LENZ was tracking at 42% for patients who refill and become repeat users. Those comparisons were provided by management and were not accompanied by additional market data on the call. LENZ began its national television campaign on July 6 and launched telehealth concurrently with its e-pharmacy provider. The initiatives are intended to broaden consumer awareness and reduce obstacles between product interest, clinical assessment and prescription fulfillment. Under the telehealth process described by Olsson, prospective patients complete a medical-history and vision-symptom questionnaire to determine whether they may be eligible for evaluation. Eligible patients are then assessed by an independent, licensed eye care professional, who determines whether VIZZ is appropriate. If prescribed, the product is sent to the e-pharmacy partner for home delivery. Olsson said telehealth patients must meet screening requirements, including having no history of retinal complications and having received a retinal exam within the past 24 months. Patients may be directed to seek an in-person physician visit if they do not qualify for telehealth. The company did not disclose the percentage of telehealth submissions that lead to prescriptions, but said some patients were screened out both through the initial questionnaire and the subsequent telehealth assessment. LENZ said the screening survey takes only a few minutes to complete. Management said July prescription growth came from both telehealth and other channels. Schimmelpennink said telehealth made a significant contribution to the increase but did not come at the expense of other channels, with all channels showing growth from June to July. LENZ said its patient mix has not changed materially following the television campaign. Olsson said purchasers are approximately 60% women and 40% men, with somewhat greater interest among patients ages 45 to 55 and declining interest among those over 65. Second-quarter cost of sales was $0.3 million. Chief Financial Officer Dan Chevallard said LENZ continues to expect VIZZ’s direct product gross margin to trend toward approximately 90% over time. Selling, general and administrative expense declined to $39.4 million, or about $34.9 million excluding non-cash stock-based compensation. On that adjusted basis, SG&A fell 14% from the first quarter, reflecting the company’s first-quarter direct-to-consumer launch investment. Approximately 80% of SG&A was related to sales and marketing, the company said. Research and development expense remained zero. LENZ reported a net loss of $31.9 million, or $1.02 per share on both a basic and diluted basis, and ended the quarter with approximately $220 million in cash equivalents and marketable securities. Chevallard said management plans to assess the performance of commercial programs during the third quarter and direct spending toward activities that demonstrate the strongest ability to drive new patient adoption. The company did not provide specific spending changes by channel. Internationally, LENZ signed a commercialization agreement with Arrotex Pharmaceuticals for Australia and New Zealand during the quarter. The agreement is the company’s fifth ex-U.S. commercial partnership for VIZZ, expanding its network across Greater China, Southeast Asia, Canada, the Middle East and Oceania. LENZ said it has nine regulatory submissions under review and expects additional submissions and potential ex-U.S. approvals by year-end. LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "LENZ Therapeutics Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

The market expects Alnylam Pharmaceuticals (ALNY) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This RNA interference drug developer is expected to post quarterly earnings of $2.05 per share in its upcoming report, which represents a year-over-year change of +540.6%. Revenues are expected to be $1.32 billion, up 70.2% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.02% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Alnylam, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.16%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Alnylam will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Alnylam would post earnings of $1.43 per share when it actually produced earnings of $1.99, delivering a surprise of +39.16%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Alnylam doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Medical - Biomedical and Genetics industry, LENZ Therapeutics, Inc. (LENZ), is soon expected to post loss of $1.21 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -128.3%. Revenues for the quarter are expected to be $2.21 million, down 55.8% from the year-ago quarter. The consensus EPS estimate for LENZ Therapeutics, Inc. has been revised 7.6% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -8.04%. This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that LENZ Therapeutics, Inc. will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis Report LENZ Therapeutics, Inc. (LENZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year decline in earnings on lower revenues when LENZ Therapeutics, Inc. (LENZ) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This company is expected to post quarterly loss of $1.21 per share in its upcoming report, which represents a year-over-year change of -128.3%. Revenues are expected to be $2.21 million, down 55.8% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 7.65% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For LENZ Therapeutics, Inc., the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -8.04%. On the other hand, the stock currently carries a Zacks Rank of #4. So, this combination makes it difficult to conclusively predict that LENZ Therapeutics, Inc. will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that LENZ Therapeutics, Inc. would post a loss of$1.1 per share when it actually produced a loss of -$1.32, delivering a surprise of -20.00%. Over the last four quarters, the company has beaten consensus EPS estimates two times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. LENZ Therapeutics, Inc. doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Incyte (INCY), another stock in the Zacks Medical - Biomedical and Genetics industry, is expected to report earnings per share of $1.85 for the quarter ended June 2026. This estimate points to a year-over-year change of +17.8%. Revenues for the quarter are expected to be $1.4 billion, up 15.3% from the year-ago quarter. The consensus EPS estimate for Incyte has been revised 0.5% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +18.47%. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Incyte will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report LENZ Therapeutics, Inc. (LENZ) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Q1 2026 total revenue of $1.9 million, including $1.7 million in VIZZ® product sales Approximately 46,000 paid prescriptions filled and over 10,000 prescribing eye care professionals from launch through Q1 2026 Together with Sarah Jessica Parker, launched the DTC campaign in Q1 2026 Expanded sales force on-track to be fully deployed by the end of Q2 2026 Management to host conference call today, May 11, 2026, at 4:30 p.m. EDT SAN DIEGO, May 11, 2026 (GLOBE NEWSWIRE) -- LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first and only aceclidine-based eye drop for the treatment of presbyopia, today reported financial results for the first quarter ended March 31, 2026 and recent corporate highlights. “We have made significant progress in the early quarters of launch driving high ECP awareness, growing prescriber experience and confidence with VIZZ, and have started to build consumer awareness and engagement through our DTC campaigns as we establish a new market for the treatment of presbyopia,” said Eef Schimmelpennink, President and Chief Executive Officer of LENZ Therapeutics. “VIZZ is delivering the kind of real-world efficacy we believed it could, and the early refill dynamics we are seeing continue to reinforce our confidence in the long-term opportunity. Looking ahead, we are focused on helping ECPs integrate VIZZ seamlessly into their practices, improving the patient path from awareness to activation, and continuing to drive adoption as we build this exciting treatment category.” First Quarter 2026 and Recent Corporate Highlights Commercial Launch Q1 2026 product revenues of $1.7 million on approximately 25,000 paid prescriptions of VIZZ®, a 19% increase over Q4 2025. Approximately 46,000 paid prescriptions filled from launch through Q1 2026 representing approximately 1.2 million daily doses sold. Broad uptake by eye care professionals (“ECPs”), with over 10,000 unique prescribers from launch through Q1 2026, with approximately 60% prescribing multiple times. To support growing demand and broad prescriber base, LENZ is expanding its sales force from 88 to 117 territories, increasing the frequency and reach of ECP engagement. The expanded sales force is expected to be fully deployed by the end of Q2 2026. In April 2026, launched ECP direct sales initiative, enabling ECPs to sell and dispense VIZZ directly out of their practice (where permitted), reducing the time from prescription to order fulfillment and increasing consumer convenience. Direct-to-Consumer Campaign Driving Awareness In January 2026, launched the “Tired of Reading Glasses” direct-to-consumer (“DTC”) campaign featuring brand spokesperson Sarah Jessica Parker to drive consumer awareness across omni-channel digital platforms. Strong initial consumer engagement, with VIZZ.com website traffic increasing as much as 10x following national media activations. Launched pilot expansion of DTC campaign into network and cable television advertising in select markets in April 2026. Advancing Global Commercialization Strategy and Expanding International Partnerships LENZ submitted its Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in March 2026 and to the Medicines and Healthcare products Regulatory Agency (MHRA) in April 2026 for VIZZ, for the treatment of presbyopia in Europe and the UK, respectively. These submissions represent the fifth and sixth ex-U.S. regulatory filings for VIZZ. In January 2026, LENZ announced an exclusive distribution agreement with Lunatus for the Middle East. Under the terms of the agreement, LENZ received an upfront payment of approximately $0.2 million, and will receive regulatory and commercial milestones, and a significant share of regional revenue through a pre-determined minimum product supply price. This agreement represents the Company’s fourth ex-U.S. commercialization partnership for VIZZ. Financial Results for Three Months Ended March 31, 2026 Cash Position: Cash, cash equivalents and marketable securities were $258.4 million as of March 31, 2026, which is anticipated to fund operations to post-launch positive cash flow. Product Sales, net: Product sales, net was $1.7 million for the three months ended March 31, 2026, driven by approximately 25,000 paid and filled monthly prescriptions in the period. We had no product sales during the three months ended March 31, 2025. License Revenue: License revenue was $0.2 million for the three months ended March 31, 2026 due to the upfront payment associated with the Lunatus exclusive distribution agreement. There was no license revenue recognized in three months ended March 31, 2025. Cost of Sales: Cost of sales was $1.1 million for the three months ended March 31, 2026, comprised primarily of non-recurring events resulting in a charge to cost of sales in the quarter related to a manufacturing process transition and unrelated to product sales. Direct product cost of sales in connection with the sales of VIZZ for the three months ended March 31, 2026 was immaterial. There was no cost of sales during the three months ended March 31, 2025. Selling, General and Administrative (SG&A) Expenses: SG&A expenses increased to $45.0 million for the three months ended March 31, 2026, compared to $11.1 million during the same period in 2025, primarily driven by our planned launch investment, with increases in commercial marketing, advertising, sales infrastructure expenses, and personnel-related expenses due to a growth in headcount, including the hiring of our sales force. These amounts include non-cash stock-based compensation expense of $4.3 million and $1.9 million for the three months ended March 31, 2026 and 2025, respectively. Research and Development (R&D) Expenses: R&D expenses decreased to zero for the three months ended March 31, 2026, compared to $5.8 million during the same period in 2025 due to the FDA approval of VIZZ in July 2025. Net Loss: Net loss for the three months ended March 31, 2026 was $41.5 million, or $1.32 per share (basic and diluted) compared to a net loss of $14.6 million, or $0.53 per share (basic and diluted) during the same periods in 2025. Conference Call Information The Company will host a conference call and webcast today, Monday, May 11, 2026, at 4:30 p.m. EDT. To participate in the conference call via telephone, dial (800) 715-9871 (Domestic) or (646) 307-1963 (International) and enter code 1358554. The live webcast can be accessed here and on the LENZ Therapeutics website at www.LENZ-tx.com in the Investors & Media section. A replay of the webcast will be available on the Company’s website for 30 days following the event. About Presbyopia Presbyopia is the inevitable loss of near vision associated with aging, impacting the daily lives of nearly all people over the age of 45. As people age, the crystalline lens in their eyes gradually hardens and becomes less able to change shape. This loss of elasticity of the lens reduces the ability of the lens to focus incoming light from near objects onto the retina. Adults over 50 years of age lose, on average, 1.5 lines of near vision every six years. Although the progression of presbyopia is gradual, presbyopes often experience an abrupt change in their daily life as the symptoms become more pronounced starting in their mid-40s, when reading glasses or other corrective aids are suddenly necessary to read text or conduct close-up work. Presbyopia is typically self-diagnosed and self-managed with over-the-counter reading glasses, or managed, after evaluation by an ECP, with prescription reading or bifocal glasses or multifocal contact lenses. About VIZZ (aceclidine ophthalmic solution) 1.44% VIZZ (aceclidine ophthalmic solution) 1.44% is a once-daily eye drop developed to restore clear near vision for up to 10 hours. Aceclidine is the sole active ingredient in VIZZ and provides rapid and durable near vision improvement. VIZZ is preservative-free and provided in single-dose vials. VIZZ is a predominantly pupil selective miotic that interacts with the iris with minimal ciliary muscle stimulation. VIZZ causes contraction of the iris sphincter muscle, resulting in a pinhole effect that extends depth of focus to improve vision. For more information, please visit www.VIZZ.com. VIZZ Indication and Important Safety Information INDICATION VIZZ (aceclidine ophthalmic solution) 1.44% is a prescription eye drop used to treat age-related blurry near vision (presbyopia) in adults. IMPORTANT SAFETY INFORMATION Do not use VIZZ if allergic to any of the ingredients. To help avoid potential eye injury or contamination of the product, do not allow the vial tip to touch the eye or any surfaces. Discard the opened vial immediately after use. Contact lenses should be removed before using VIZZ. After dosing, contact lenses can be reinserted after 10 minutes. If using more than one topical eye medication, the medicines should be administered at least 5 minutes apart. Temporary dim or dark vision may be experienced after using VIZZ. Do not drive or operate machinery if vision is not clear. Seek immediate medical care if sudden onset of flashing lights, floaters, or vision loss is experienced. ADVERSE REACTIONS The most common reported adverse reactions of participants were instillation site irritation (20%), dim vision (16%), and headache (13%). Adverse reactions reported in >5% of participants were conjunctival hyperemia (8%) and ocular hyperemia (7%). The majority of adverse reactions were mild, transient, and self-resolving. For additional information, please see the full Prescribing Information available at http://www.VIZZ.com/full-prescribing-information.pdf About LENZ Therapeutics LENZ Therapeutics is a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the United States. LENZ is commercializing VIZZ in the United States and continues to establish licensing partnerships internationally to provide access to VIZZ globally. LENZ is headquartered in San Diego, California. For more information, visit www.VIZZ.com and www.lenz-tx.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws. You can identify forward-looking statements by words such as “may,” “will,” “could,” “can,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “poised,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, but not all forward-looking statements will contain these words. Forward-looking statements in this press release include statements regarding LENZ’s plans to expand its sales force; the ability of LENZ’s sales and marketing activities to increase commercial awareness and adoption of VIZZ; cash runway expectations; the potential market size for VIZZ; its ability to meet patient needs and become standard of care; LENZ commercialization plans, including international partnering plans and expectations under existing commercial arrangements; and the quotations of LENZ management. These statements are based on numerous assumptions concerning VIZZ, target markets and involve substantial risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievement to be materially different from the information expressed or implied by these forward-looking statements, including those risk factors described in the section titled “Risk Factors” in our Quarterly Report on Form 10-Q to be filed for the quarter ended March 31, 2026 and our subsequent filings with the SEC. We cannot assure you that the forward-looking statements in this press release or the assumptions upon which they are based will prove to be accurate. The forward-looking statements in this press release are as of the date of this press release. Except as otherwise required by applicable law, LENZ disclaims any duty to update any forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Contact: Dan Chevallard LENZ Therapeutics [email protected]

Interested in LENZ Therapeutics, Inc.? Here are five stocks we like better. LENZ Therapeutics reported Q1 2026 net revenue of $1.9 million, with about 25,000 paid and filled prescriptions for VIZZ and total cash burn of roughly $34 million. The company ended the quarter with approximately $258.4 million in cash and marketable securities. Management said VIZZ adoption is growing but slower than hoped, as routine prescribing by eye care professionals and new patient conversion are still developing. More than 10,000 unique prescribers have written VIZZ, and the company is leaning on sampling and targeted direct-to-consumer marketing to drive repeat use. LENZ is focusing near-term growth on contact lens wearers and expanding its commercial reach, including direct-to-practice sales in permitted states and a larger sales force expected to reach about 15,000 eye care professionals. Executives also said the product’s real-world safety profile remains consistent with the label, with no retinal detachments reported and only two retinal tears in patients with pre-existing risk factors. LENZ Therapeutics (NASDAQ:LENZ) reported first-quarter 2026 results that showed continued prescription growth for its presbyopia eye drop VIZZ, while management acknowledged that new patient adoption and routine prescribing by eye care professionals are developing more gradually than expected. President and Chief Executive Officer Eef Schimmelpennink said the company delivered approximately 25,000 paid and filled prescriptions in the quarter, bringing total monthly units sold since launch to roughly 46,000. LENZ generated $1.9 million in net revenue, including $1.7 million in product sales. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum “New patient adoption has continued to grow, but not yet at the pace we’re aiming for,” Schimmelpennink said. “We’ve done the work to understand the dynamics, we’ve identified what needs to change, and we’re executing on those changes now.” LENZ said VIZZ has been prescribed by more than 10,000 unique prescribers through the first quarter. Schimmelpennink said the company is seeing what it views as an encouraging prescribing pattern: at a comparable stage of launch, VIZZ is generating roughly 70% more scripts per prescriber than VUITY, a prior product in the category. → 3 Ways to Target the Resources Powering AI and Data Centers Management also highlighted early signs of patient persistence. Schimmelpennink said more than two-thirds of the company’s ePharmacy volume is now coming from three-month prescriptions, up meaningfully from the prior quarter. The company said its launch strategy is built around sampling, with patients trying the product first and then converting to paid prescriptions if they experience benefit. Chief Commercial Officer Shawn Olsson said approximately 60% of prescribing eye care professionals have written VIZZ multiple times, which the company views as an early sign of confidence and habit formation. Olsson said awareness among eye care professionals is high, with aided awareness in the high 90% range and unaided awareness above 80%. → MercadoLibre Boldly Invests in Growth: Discount Deepens Still, executives said the next phase of the launch will depend on helping physicians incorporate VIZZ more consistently into routine eye exams. Olsson said many eye care professionals follow a fast, standardized exam flow and may not yet be proactively introducing the product unless patients ask about it. LENZ said one of its clearest near-term commercial opportunities is among contact lens wearers. Olsson said the contact lens population peaks in the 30-to-39 age range, and that as patients age, up to 71% drop out of contact lenses after age 50, often because of presbyopia. He said physicians are responding to VIZZ as a potential way to help patients remain in contact lenses longer. Olsson cited a recent consumer survey showing that approximately 50% of VIZZ users reported contact lenses as their primary form of distance vision correction. Schimmelpennink added that the company also sees opportunities among patients who have had LASIK, those with active lifestyles and emmetropes who may be visiting an optometrist because of emerging presbyopia. On the consumer side, LENZ is refining its direct-to-consumer messaging around a “tired of reading glasses” problem-solution approach. Olsson said the company is seeing strong engagement from digital campaigns, including significant increases in website traffic and favorable ad recall on platforms such as YouTube and Pinterest. LENZ has also begun testing linear television advertising in select U.S. markets, though Olsson said it is too early to provide details on the specific markets or results. The company is also rolling out QR-based onboarding tools designed to explain how to use VIZZ, what to expect after instillation and how patients can transition from trial use to ongoing therapy. Management said it is also enabling direct sales through physician practices in markets where that is permitted. Olsson said optometrists in about half of U.S. states are permitted to sell prescription drugs directly from their practices. In those markets, LENZ is offering practices the ability to purchase VIZZ directly from the company under contract, with product shipped to the physician’s office after payment. Physicians may then prescribe and sell the product to patients. Chief Financial Officer Dan Chevallard said the direct-to-practice channel is expected to have no meaningful difference in net economics for LENZ compared with ePharmacy or retail channels. He said investors should continue to model roughly $60 in net cash per monthly unit, after gross-to-net discounts and distribution-related costs. Olsson said the company’s expanded field organization is expected to be fully deployed by the end of the current quarter, increasing its reach to approximately 15,000 targeted eye care professionals. The expansion is intended to help LENZ respond to inbound physician demand outside its initial target group and improve sales-call frequency in key territories. Chevallard said first-quarter filled prescriptions increased 19% from the fourth quarter, resulting in approximately $1.7 million in net product revenue. He said blended gross-to-net discounts across distribution channels remained below 10%, producing approximately $67 in net revenue per monthly pack of VIZZ. Additional distribution-related costs of about $7 per unit were recorded in SG&A, leaving approximately $60 in net cash per pack. LENZ also recognized $250,000 in license revenue from a distribution agreement signed in January with Lunatus, its ex-U.S. distribution partner in the Middle East region. Cost of sales totaled $1.1 million in the quarter, which Chevallard said was driven primarily by two non-recurring items unrelated to product sales: a temperature excursion involving inventory in transit from the manufacturer and a one-time charge for packaging supplies tied to an FDA-approved manufacturing process improvement. He said direct product cost of sales related to first-quarter product sales were immaterial, and the company expects direct product gross margin to trend toward approximately 90% over time. SG&A expenses rose to $45 million, or approximately $40.7 million excluding non-cash stock-based compensation, up 13% from the fourth quarter. Chevallard said the increase was driven by planned direct-to-consumer launch investment, with roughly 80% of SG&A allocated to sales and marketing. Research and development expenses were zero, consistent with the prior quarter, and Chevallard said R&D should remain substantially zero for the foreseeable future. LENZ reported a first-quarter net loss of $41.5 million, or $1.32 per share, both basic and diluted. The company ended the quarter with approximately $258.4 million in cash, cash equivalents and marketable securities. Net cash burn was about $34 million, consistent with the fourth quarter and in line with the company’s budget. During the question-and-answer portion of the call, Chief Medical Officer Dr. Marc Odrich addressed post-launch safety, saying VIZZ’s real-world safety profile remains consistent with the label. He said the company has shipped approximately 46,000 boxes, or about 1.2 million doses, in addition to widespread sampling. Odrich said the company has seen zero retinal detachments and two retinal tears, both in patients with pre-existing retinal risk factors. He said LENZ’s retina experts assessed the cases as likely non-causal. Odrich contrasted the data with what the company believes was comparable exposure for VUITY, which he said had about 34 retinal events, including 22 detachments. On competition, Olsson said LENZ views VIZZ as differentiated by its mechanism of action, duration and efficacy profile, while adding that additional entrants could help build awareness of eye drops for presbyopia. Schimmelpennink said competitors Qlosi and YUVEZZI are sampling, though not as broadly as LENZ, and emphasized that sampling remains central to the company’s launch approach. Outside the U.S., Schimmelpennink said LENZ is seeing momentum from recent European and U.K. submissions, along with inbound partnering interest from markets including Europe and Latin America. The company also pointed to existing partnerships across China, Southeast Asia, Canada and the Middle East as part of its global expansion foundation. LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "LENZ Therapeutics Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.