Business
LENZ Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Updates
Reported positive topline data from Phase 3 CLARITY study for presbyopia; selected LNZ100 as lead candidate; New Drug Application submission anticipated in
About this update from Lenz Therapeutics, Inc.
[{"type":"text","content":"Reported positive topline data from Phase 3 CLARITY study for presbyopia; selected LNZ100 as lead candidate; New Drug Application submission anticipated in mid-2024 Capstone data from Phase 3 CLARITY study to be presented at Key Opinion Leader event planned for June 18, 2024 Completed merger with Graphite Bio and concurrent $53.5 million private placement Cash, cash equivalents and marketable securities of approximately $213.3 million as of March 31, 2024; cash runway anticipated to extend to post-launch positive operating cash flow Company to host a conference call today at 4:30 p.m. ET SAN DIEGO, May 08, 2024 (GLOBE NEWSWIRE) -- LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a late clinical-stage biopharmaceutical company focused on developing the first aceclidine-based eye drop that has been shown to improve near vision in people with presbyopia, today reported financial results and operational highlights for the first quarter ended March 31, 2024. “2024 has been transformative for LENZ. We have emerged as a well-capitalized newly public company, and subsequently announced our positive topline data from the Phase 3 CLARITY study for presbyopia. We believe this has well-positioned us on an execution-focused path to a potential FDA submission for LNZ100 in mid-2024 and, if approved, commercial launch as early as the second half of 2025,” said Eef Schimmelpennink, President and Chief Executive Officer of LENZ Therapeutics. “Our Phase 3 CLARITY study achieved all primary and secondary endpoints, highlighted potential best-in-class response with 84% participants achieving at least four (4) lines of near vision improvement at some point during the day, as well as a favorable safety and tolerability profile making LNZ100 a potentially compelling treatment option for patients with presbyopia. With these compelling clinical results and 128 million presbyopes in the United States alone, along with an estimated U.S. market opportunity in excess of $3 billion, we believe LNZ100 can provide a meaningful therapeutic option for millions of patients living with presbyopia and significant value creation for shareholders.” First Quarter 2024 and Recent Business Highlights Announced positive topline data from Phase 3 CLARITY study and selected LNZ100 as lead candidate: In April 2024, LENZ reported positive topline data from ...