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Lenz Therapeutics, Inc. (NASDAQ:LENZ) announced it sold 1,748,634 shares of its common stock at $45.75 per share for gross proceeds of approximately $80 million in a block trade to a single investor. The transaction was completed Tuesday under the company’s "at the market" Sales Agreement with TD Securities (USA) LLC, which was originally dated April 4, 2025.
The sale was conducted in accordance with the terms of the previously disclosed Sales Agreement. Lenz Therapeutics is incorporated in Delaware and is headquartered in Solana Beach, California.
This information is based on a statement in a press release and a filing with the Securities and Exchange Commission.
In other recent news, LENZ Therapeutics has launched its presbyopia treatment, VIZZ (aceclidine ophthalmic solution) 1.44%, in the United States. Professional samples are now being distributed to eye care professionals, with consumer shipments set to begin in October through an ePharmacy partner. The FDA’s approval of VIZZ marks it as the first aceclidine-based eye drop treatment for presbyopia. H.C. Wainwright has raised its price target for LENZ Therapeutics to $56 from $48, maintaining a Buy rating on the stock. The firm has also named LENZ as one of its top picks for the second half of 2025. Additionally, LENZ reported a second-quarter loss of $0.53 per share, while confirming the FDA review of its New Drug Application for LNZ100 is on track for a decision by August 8, 2025. The company has completed hiring and training an 88-member sales force in preparation for potential commercialization. LENZ ended the quarter with $209.6 million in cash, which it anticipates will support operations through to achieving positive cash flow post-launch.
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