Indication intelligence, analysis and sector perception

RegMed Investors (RMi) Research note: LENZ Therapeutics (LENZ +$0.16 to $21.19 at open) $30 M PIPE financing

July 15, 2024 9:59am

Stock purchase agreement with Ridgeback Capital Investments L.P.

LENZ intends to use the net proceeds from the PIPE financing, with its existing cash, cash equivalents, and marketable securities, to support the regulatory, pre-commercial and potential commercial launch activities for LNZ100 as well as for working capital and general corporate purposes.

With strong P3 CLARITY data (in hand and excitement from KOLs that studied LNZ100), LENZ is looking forward to upcoming milestones, including the submission of its NDA for LNZ100 mid-year 2024 and turning our full focus towards preparing for the potential approval and commercialization of LNZ100.

The Bottom Line: A positive for continued viability ...

strengthens balance sheet for therapeutic option for the treatment of presbyopia.

LENZ’s product candidate, LNZ100 is a preservative-free, single-use, once-daily eye drop containing aceclidine.
LNZ100 was evaluated in the registration-enabling P3 CLARITY study as a potential therapy for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the U.S.

Stats:

Mgt Cap: $536.35 M
Cash: $213.28 M
52-week range: high of $24.59 and low of $2.01
Shares Outstanding: 25.53 M
Float: 9.62 M

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

Do you have an opinion you would like to share with us? We would like to hear from you.

Please e-mail us at hwm@regmedinvestors.com.

Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

RegMed Investors (RMi) or Regmedinvestors.com content is the intellectual property of Henry McCusker. Any copying, republication or redistribution of RMI’s content, including by framing or similar means, is expressly prohibited without the prior written consent of Scimitar; who also shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. For additional information on other Scimitar media services or reposting please email hwm@regmedinvestors.com.

The information included above as well as individual companies and/or securities mentioned should be construed as guidance in RMi reviews.

The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.