LENZ Therapeutics, Inc.
LENZ evidence brief
What we can confirm
- BioSniper Score:
- 6.3 / 10
- Market Cap:
- $148.3M
- Lead Asset:
- vizz (Approved)
What it means
What to watch
Prepared research question
What matters most for LENZ—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · LENZ
LENZ Therapeutics, Inc. (LENZ) is a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first FDA-approved aceclidine-based eye drop for presbyopia in adults.
Key risk: Cash burn rate
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 4 clinical trials · 1 catalyst · 1 FDA decision for LENZ Therapeutics, Inc..
Similar companies
LENZ Therapeutics, Inc. (LENZ) is a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first FDA-approved aceclidine-based eye drop for presbyopia in adults.
- Launched VIZZ® (aceclidine ophthalmic solution) 1.44% in October 2025 for presbyopia [news · published 2026-01-08].
- Generated net product revenue of $1.6 million in Q4 2025, with over 20,000 prescriptions filled [news · published 2026-01-08].
- Cash and equivalents of $24.2M as of 2026-06-30 [sec].
- Net income of -$31.9M for the period ended 2026-06-30 [sec].
- Accumulated deficit of $227.1 million as of December 31, 2025 [sec_mda · as of 2026-03-24].
What works
- VIZZ is the first and only FDA-approved aceclidine-based eye drop for presbyopia, a large addressable market [news · published 2026-08-04].
- Early commercial traction: over 6,500 unique eye care professionals prescribed VIZZ in Q4 2025, with more than 55% prescribing multiple times [news · published 2026-01-08].
- Executed multiple international license and commercialization agreements for LNZ100, including over $195 million in upfront and milestone payments plus double-digit royalties [news · published 2025-07-30].
What to weigh
- The company has incurred net losses each year since inception, with an accumulated deficit of $227.1 million as of December 31, 2025 [sec_mda · as of 2026-03-24].
- Cash and equivalents declined from $209.6 million as of mid-2025 to $24.2 million as of 2026-06-30, indicating rapid cash burn [news · published 2025-07-30] [sec].
- Net income was -$31.9M for the period ended 2026-06-30, reflecting ongoing operating losses [sec].
- The company expects to continue incurring significant expenses related to sales, marketing, manufacturing, and distribution of VIZZ [sec_mda · as of 2026-03-24].
From the filings
Quoted directly from source documents.
VIZZ is the first FDA-approved aceclidine-based eye drop for presbyopia.
“the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia in adults”
News · August 4, 2026
Q4 2025 net product revenue was $1.6 million with over 20,000 prescriptions filled.
“Achieved approximately $1.6 million in net product revenue with over 20,000 prescriptions filled in Q4 2025”
News · January 8, 2026
Accumulated deficit of $227.1 million as of December 31, 2025.
“we had an accumulated deficit of $227.1 84 Table of Contents million”
SEC MD&A · March 24, 2026
Catalyst timeline
- 2044-03-15 · Patent_Expiry · ACECLIDINE HYDROCHLORIDE — Patent_Expiry: NDA218585 — Patent expiry for the active ingredient in VIZZ; may open the door for generic competition.
Risks & what to watch (3)›
Key risks
- Cash burn rate — Cash declined from $209.6M (mid-2025) to $24.2M (June 2026), raising sustainability concerns [news · published 2025-07-30] [sec].
- Accumulated deficit — Accumulated deficit of $227.1M as of Dec 2025, with net losses each year since inception [sec_mda · as of 2026-03-24].
- Commercialization costs — Expects significant ongoing expenses for sales, marketing, manufacturing, and distribution of VIZZ [sec_mda · as of 2026-03-24].
What to watch
- Q2 2026 financial results and corporate highlights webcast on August 11, 2026 [news · published 2026-08-04].
- Prescription and revenue growth trajectory for VIZZ in 2026 [news · published 2026-01-08].
- Cash runway and ability to reach positive operating cash flow as projected [sec_mda · as of 2026-03-24].
- Patent expiry of ACECLIDINE HYDROCHLORIDE on 2044-03-15 [catalyst].
Sources: Catalysts · News · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.08 · 0% dilution
Lead: Approved
1 candidate
1 upcoming, next in ~6362d
No insider transactions in the last 180 days
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
144
Total value held
$293.4M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 4,178,823 | $38.2M |
| alpha wave global, lp | 3,612,211 | $33.1M |
| fmr llc | 3,597,784 | $32.9M |
| versant venture management, llc | 2,656,888 | $24.3M |
| blackrock, inc. | 1,976,823 | $18.1M |
| squarepoint ops llc | 1,506,499 | $13.8M |
| aberdeen group plc | 1,156,161 | $10.6M |
| franklin resources inc | 1,100,148 | $10.1M |
| vanguard capital management llc | 1,041,188 | $9.5M |
| 72 investment holdings, llc | 1,017,751 | $9.3M |
Showing top 10 of 144 institutional holders of LENZ Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 49.5%
- Days to cover
- 7.8
- Shares short
- 9,033,400
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
LENZ short interestGovernance
Frequently asked questions
What is the AI investment thesis for LENZ Therapeutics, Inc.?
LENZ Therapeutics, Inc. (LENZ) is a pharmaceutical company focused on the commercialization of VIZZ® (aceclidine ophthalmic solution) 1.44%, the first FDA-approved aceclidine-based eye drop for presbyopia in adults.
What is LENZ Therapeutics, Inc.'s lead drug candidate?
LENZ Therapeutics, Inc.'s most advanced tracked candidate is vizz (Approved) for presbyopia.
What is LENZ Therapeutics, Inc.'s next catalyst?
LENZ Therapeutics, Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA218585" — expected March 15, 2044.
Who is the CEO of LENZ Therapeutics, Inc.?
Mr. Evert B. Schimmelpennink is the chief executive officer of LENZ Therapeutics, Inc. (LENZ).
Where is LENZ Therapeutics, Inc. headquartered?
LENZ Therapeutics, Inc. (LENZ) is headquartered in Solana Beach, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.