Daiichi Sankyo and Merck report phase 2 trial results for lung cancer drug
Lenz Therapeutics Inc. (market cap: $1.19 billion) reached a significant milestone as its stock hit a 52-week high of $41.71. According to InvestingPro analysis, the company currently trades slightly above its Fair Value, with analyst price targets ranging from $36 to $60. This achievement reflects a strong upward trajectory, with the company’s stock experiencing a remarkable 74.55% increase over the past six months. The surge in stock price underscores investor confidence and positive market sentiment surrounding Lenz Therapeutics’ recent developments and future prospects, despite an EBITDA of -$61.87 million. This 52-week high marks a pivotal point for the company, drawing attention from analysts and investors alike as they evaluate the factors driving this impressive performance. For deeper insights into Lenz’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers 1,400+ top US stocks.
In other recent news, LENZ Therapeutics has received FDA approval for VIZZ, an aceclidine ophthalmic solution for treating presbyopia, marking it as the first aceclidine-based eye drop for this condition. Following this approval, H.C. Wainwright raised its price target for LENZ Therapeutics to $56 from $48, maintaining a Buy rating and highlighting the company as one of its top picks for the second half of 2025. The company plans to make VIZZ samples available in the U.S. by October 2025, with broader commercial availability expected by mid-fourth quarter 2025. Additionally, LENZ Therapeutics reported a second-quarter loss of $0.53 per share as it prepares for the potential commercial launch of its eye drop. The company has completed hiring and training an 88-member sales force to support the launch, contingent upon FDA approval of its New Drug Application for LNZ100, expected by August 2025. LENZ ended the quarter with $209.6 million in cash, which is anticipated to fund operations until reaching positive cash flow post-launch.
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