LENZ Therapeutics Reports Fiscal Year 2025 Results and VIZZ Commercial Launch

**LENZ Therapeutics Reports Fiscal Year 2025 Results, Highlights VIZZ Commercial Launch**

LENZ Therapeutics, Inc., a commercial pharmaceutical company focused on vision improvement therapies, announced its financial results for the fiscal year ended December 31, 2025. The company reported product sales, net of $1.6 million, stemming from the commercial launch of VIZZ, its newly FDA-approved eye drop for presbyopia, which began in August 2025. License revenue totaled $17.5 million, driven by upfront payments and milestone achievements related to licensing agreements with CORXEL, Lotus, and Théa for the development and commercialization of VIZZ in Greater China, South Korea and Southeast Asia, and Canada, respectively. The company's cost of sales was $0.4 million, reflecting the initial costs associated with manufacturing and distributing VIZZ.

Operating expenses for the year were $110.2 million, including $91.1 million in selling, general, and administrative (SG&A) expenses, a significant increase from $28.8 million in the prior year. This rise in SG&A was attributed to the expansion of the commercial team, including the establishment of an 88-territory sales force, and the launch of a direct-to-consumer marketing campaign. Research and development (R&D) expenses decreased to $18.7 million from $29.8 million in the previous year, primarily due to the FDA approval of VIZZ, which led to the reclassification of certain expenses to SG&A. The company's net loss for the year was $82.1 million, compared to $49.8 million in 2024.

Key operational developments included the FDA approval of VIZZ in July 2025, marking the first and only FDA-approved aceclidine-based eye drop for presbyopia. The company initiated direct-to-eye care professional sales and marketing activities immediately upon approval, with product sample distribution and commercial shipments commencing in October 2025. VIZZ became broadly available in retail pharmacies in November 2025. LENZ also submitted a Marketing Authorization Application to the European Medicines Agency for VIZZ, seeking approval for commercialization in Europe.

As of December 31, 2025, LENZ Therapeutics reported cash, cash equivalents, and marketable securities totaling $292.3 million. The company believes its current financial resources are sufficient to fund operations to positive operating cash flow. The company is focused on the commercial success of VIZZ in the U.S. and continues to seek strategic partnerships for Europe, Latin America, and other international markets. The company is also evaluating opportunities to acquire or in-license other products or product candidates to further leverage its commercial infrastructure.