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LENZ Therapeutics

LENZ Lead: Approved 4 Biotech Distilled articles ↓ 17 filings & releases ↓ Cash $30.6M (Sep 30, 2026) ↓ 4 verdicts ↓
Ophthalmology Small Molecule

Market cap $110M 31.4M shares (10-Q, Oct 28, 2026) × $3.50 close Nov 6, 2026

Most recent annual filing: 2026-03-24

Catalyst timeline

2 trackedQuarter catalyst calendar →
  1. Lenz commercial business corporate update4Q 2026Lenz commercial business corporate update, 4Q 2026, routine
  2. VIZZ China decision1Q 2027VIZZ China decision, 1Q 2027, material

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (1 active programs)

Discontinued (1)

Capital (as filed)

Cash
$30.6M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
−$22.3M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$197M cash, runway roughly 2029 per the update of Nov 2, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (4)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (4 calls)

Every verdict Biotech Distilled has published on LENZ Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-07-14 Watch LENZ Therapeutics (LENZ) — Scientific Deep Dive for VIZZ (Aceclidine) Best-in-class aceclidine science and below-net-cash valuation earn a close watch, but ~$1.7M quarterly sales against ~$45M SG&A and unproven DTC/telehealth adoption mean the burden of proof sits on the next two prescription prints.
  2. 2026-08-12 Speculative buy speculative UPDATE: LENZ Therapeutics (LENZ) - The Refill Data Arrives, The Curve Doesn't Bend Real-world persistence data (>60% multi-pack, ~5 packs/year) de-risks the specific failure mode that killed Vuity, and the stock still trades below $220M net cash, justifying patient accumulation sized small ahead of the Q3 print.
  3. 2026-10-29 Speculative buy speculative UPDATE: LENZ Therapeutics (LENZ) - The Curve Bends, The Company Shrinks Q3 volume rose 51% with telehealth driving half the growth, persistence held, and halving the cost base pushes runway to ~2029, making the below-net-cash setup look better than in August despite an interim CEO and a tiny revenue base.
  4. 2026-11-03 Hold UPDATE: LENZ Therapeutics (LENZ) - RA Capital Walks Out the Door RA Capital's full exit of ~13% of shares at ~half of cash per share removes a key conviction signal from the buy case, warranting a downgrade to Hold pending the Q4 print to confirm the leaner company can sustain volume growth.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (17)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 4, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

10 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)