LENZ Therapeutics Reports Second Quarter 2026 Financial Results and Recent Corporate Highlights
Rhea-AI Summary
LENZ Therapeutics (Nasdaq: LENZ) reported Q2 2026 total revenue of $5.5 million, including $1.7 million in VIZZ product sales from roughly 27,000 packs and $3.8 million in license revenue, driven by milestone and sublicense payments. VIZZ has seen strong early adoption, with over 13,000 unique prescribers since launch and more than 60% of ePharmacy patients purchasing multiple monthly packs, tracking to about five packs annually in early cohorts.
LENZ expanded its ex‑U.S. footprint with new or advanced agreements in Australia/New Zealand, Canada, Greater China and Saudi Arabia, and now has nine ex‑U.S. regulatory filings. Q2 SG&A rose to $39.4 million on launch spending, there was no R&D expense after FDA approval, and net loss widened to $31.9 million. Cash, cash equivalents and marketable securities totaled $220.0 million at June 30, 2026.
Positive
- Total revenue $5.5M in Q2 2026 vs $5.0M in 2025
- VIZZ product sales $1.7M on ~27,000 packs in Q2 2026
- High patient persistence with 60%+ ePharmacy patients buying multiple packs
- 13,000+ unique prescribers and ~75% prescribing VIZZ multiple times
- Strong liquidity with $220.0M in cash, equivalents and marketable securities
- Up to $150M+ remaining milestones from Théa and Greater China arrangements
Negative
- Net loss $31.9M in Q2 2026, $73.4M for six months
- SG&A expenses $39.4M in Q2 and $84.3M for six months
- License revenue $3.8M in Q2 2026 vs $5.0M in 2025
- Cash and marketable securities declined to $220.0M from $292.3M at year-end 2025
News Explained
As a historical liquidity benchmark, LENZ Therapeutics had
Sources and calculations
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $24,772,000 / ($33,582,000 / 90) = [object Object]
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 11 | Q1 earnings report | Positive | -20.8% | Reported quarterly revenue, commercial uptake, cash position, and net loss. |
| Mar 24 | Q4 earnings report | Positive | -17.9% | Reported quarterly results, commercial progress, cash, partnerships, and international regulatory filings. |
| Jan 07 | Preliminary earnings report | Positive | -6.6% | Reported preliminary product revenue, prescription growth, prescriber expansion, and international partnership activity. |
| Nov 05 | Q3 earnings report | Positive | -23.5% | Reported FDA approval, commercial launch progress, partnerships, cash, and quarterly net loss. |
| Jul 30 | Q2 earnings report | Positive | -2.9% | Reported regulatory progress, licensing potential, sales-force hiring, cash, and quarterly net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
All five tag-matched earnings events had negative 24-hour reactions, averaging -14.32%.
Key Terms
epharmacy technical
marketing authorization application regulatory
mhra regulatory
new drug submission regulatory
miotic medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q2 2026 total revenue of
Strong patient persistence, with over
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)
“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, a9% 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
Product Sales, net: Product sales, net was
License Revenue: License revenue was
Cost of Sales: Cost of sales was
Selling, General and Administrative (“SG&A”) Expenses: SG&A expenses increased to
Research and Development (“R&D”) Expenses: There were no R&D expenses for the three and six months ended June 30, 2026, compared to
Net Loss: Net loss for the three and six months ended June 30, 2026 was
Conference Call Information
The 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)
VIZZ (aceclidine ophthalmic solution)
VIZZ Indication and Important Safety Information
INDICATION
VIZZ (aceclidine ophthalmic solution)
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 (
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)
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 Therapeutics
IR@LENZ-Tx.com
| LENZ Therapeutics, Inc. Selected Balance Sheet Highlights (in thousands) | |||||
| June 30, 2026 | December 31, 2025 | ||||
| (unaudited) | |||||
| Cash and cash equivalents | $ | 24,208 | $ | 25,179 | |
| Marketable securities | 195,795 | 267,168 | |||
| Total assets | 236,596 | 305,876 | |||
| Total liabilities | 17,334 | 21,537 | |||
| Total stockholders’ equity | 219,262 | 284,339 | |||
| LENZ Therapeutics, Inc. Condensed Consolidated Statement of Operations and Comprehensive Loss (in thousands, except share and per share data) (unaudited) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue: | |||||||||||||||
| Product sales, net | $ | 1,736 | $ | — | $ | 3,387 | $ | — | |||||||
| License revenue | 3,750 | 5,000 | 4,000 | 5,000 | |||||||||||
| Total revenue | 5,486 | 5,000 | 7,387 | 5,000 | |||||||||||
| Operating expenses: | |||||||||||||||
| Cost of sales | 280 | — | 1,356 | — | |||||||||||
| Selling, general and administrative | 39,378 | 12,796 | 84,338 | 23,909 | |||||||||||
| Research and development | — | 9,061 | — | 14,879 | |||||||||||
| Total operating expenses | 39,658 | 21,857 | 85,694 | 38,788 | |||||||||||
| Loss from operations | (34,172 | ) | (16,857 | ) | (78,307 | ) | (33,788 | ) | |||||||
| Other (expense) income: | |||||||||||||||
| Other (expense) income | (13 | ) | 199 | (10 | ) | 188 | |||||||||
| Interest income | 2,270 | 2,246 | 4,914 | 4,569 | |||||||||||
| Total other income, net | 2,257 | 2,445 | 4,904 | 4,757 | |||||||||||
| Net loss before income taxes | (31,915 | ) | (14,412 | ) | (73,403 | ) | (29,031 | ) | |||||||
| Income tax expense | 3 | 500 | 3 | 500 | |||||||||||
| Net loss | $ | (31,918 | ) | $ | (14,912 | ) | $ | (73,406 | ) | $ | (29,531 | ) | |||
| Other comprehensive loss: | |||||||||||||||
| Unrealized loss on marketable securities | (179 | ) | (85 | ) | (871 | ) | (158 | ) | |||||||
| Comprehensive loss | $ | (32,097 | ) | $ | (14,997 | ) | $ | (74,277 | ) | $ | (29,689 | ) | |||
| Net loss per share, basic and diluted | $ | (1.02 | ) | $ | (0.53 | ) | $ | (2.34 | ) | $ | (1.06 | ) | |||
| Weighted-average common shares outstanding, basic and diluted | 31,374,311 | 28,079,071 | 31,363,566 | 27,804,112 | |||||||||||
