$LENZ

LENZ Therapeutics, Inc.

CIK:0001815776|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 5,486	$ 5,000	$ 7,387	$ 5,000
Operating expenses:
Cost of sales	280	0	1,356	0
Selling, general and administrative	39,378	12,796	84,338	23,909
Research and development	0	9,061	0	14,879
Total operating expenses	39,658	21,857	85,694	38,788
Loss from operations	(34,172)	(16,857)	(78,307)	(33,788)
Other (expense) income:
Other (expense) income	(13)	199	(10)	188
Interest income	2,270	2,246	4,914	4,569
Total other income, net	2,257	2,445	4,904	4,757
Net loss before income taxes	(31,915)	(14,412)	(73,403)	(29,031)
Income tax expense	3	500	3	500
Net loss	(31,918)	(14,912)	(73,406)	(29,531)
Other comprehensive loss:
Unrealized loss on marketable securities	(179)	(85)	(871)	(158)
Comprehensive loss	$ (32,097)	$ (14,997)	$ (74,277)	$ (29,689)
Net loss per share - basic (in dollars per share)	$ (1.02)	$ (0.53)	$ (2.34)	$ (1.06)
Net loss per share - diluted (in dollars per share)	$ (1.02)	$ (0.53)	$ (2.34)	$ (1.06)
Weighted-average common shares outstanding, basic (in shares)	31,374,311	28,079,071	31,363,566	27,804,112
Weighted-average common shares outstanding, diluted (in shares)	31,374,311	28,079,071	31,363,566	27,804,112
Product sales, net
Revenue:
Total revenue	$ 1,736	$ 0	$ 3,387	$ 0
License revenue
Revenue:
Total revenue	$ 3,750	$ 5,000	$ 4,000	$ 5,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (73,406)	$ (29,531)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	221	55
Loss on impairment of operating right-of-use assets and related property and equipment	0	82
Accretion of discounts and amortization of premiums on marketable securities, net	(447)	(2,022)
Gain on long-term investments	0	(204)
Write-off of nonsalable inventory	414	0
Share-based compensation expense	8,791	5,400
Changes in operating assets and liabilities:
Accounts receivable, net	(113)	0
Inventory	(870)	0
Prepaid expenses and other current assets	(2,916)	(1,196)
Accounts payable	2,481	(1,628)
Accrued liabilities	(7,224)	1,487
Deferred revenue	785	0
Operating lease liabilities, net	(32)	0
Other assets	21	0
Net cash used in operating activities	(72,295)	(27,557)
Cash flows from investing activities
Purchases of marketable securities	(23,430)	(91,385)
Proceeds from maturities of marketable securities	94,379	110,210
Purchases of property and equipment	(34)	(350)
Net cash provided by investing activities	70,915	18,475
Cash flows from financing activities
Proceeds from exercises of stock options	14	240
Proceeds from issuance of common stock under employee stock purchase plan	395	225
Net cash provided by financing activities	409	26,532
Net (decrease) increase in cash, cash equivalents and restricted cash	(971)	17,450
Cash, cash equivalents and restricted cash, beginning of the period	25,179	20,272
Cash, cash equivalents and restricted cash, end of the period	24,208	37,722
Supplemental Cash Flow Information [Abstract]
Property and equipment included in accounts payable	0	225
At The Market Offerings
Cash flows from financing activities
Proceeds from issuance of common stock through at-the-market offerings, net of issuance costs	$ 0	$ 26,067

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 24,208	$ 25,179
Marketable securities	195,795	267,168
Accounts receivable, net	442	329
Inventory	4,121	2,936
Prepaid expenses and other current assets	8,716	5,800
Total current assets	233,282	301,412
Property and equipment, net	1,002	1,189
Operating lease right-of-use asset	521	734
Other assets	1,791	2,541
Total assets	236,596	305,876
Current liabilities:
Accounts payable	6,648	4,167
Accrued liabilities	9,779	17,020
Deferred revenue	785	0
Total current liabilities	17,212	21,187
Operating lease liability, net	122	350
Total liabilities	17,334	21,537
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock, par value of $0.00001 per share; 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, par value of $0.00001 per share; 300,000,000 shares authorized; 31,416,892 and 31,344,782 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	520,437	511,237
Accumulated deficit	(300,547)	(227,141)
Accumulated other comprehensive (loss) income	(629)	242
Total stockholders’ equity	219,262	284,339
Total liabilities and stockholders’ equity	$ 236,596	$ 305,876