LENZ Therapeutics (LENZ) investor relations material

Executive summary

• Q1 2026 revenue reached $1.9M, with $1.7M from VIZZ product sales and $0.25M from license revenue, and 25,000 paid prescriptions filled in the quarter.

• Early adoption is building, with strong physician engagement, over 10,000 unique prescribers, and growing patient persistence, especially in the ePharmacy channel.

• Brand awareness among ECPs is high, but proactive patient discussions are still evolving; DTC campaigns and celebrity endorsements are driving awareness.

• Strategic focus on refining physician and patient engagement, onboarding tools, and direct sales to practices, with a direct sales initiative launched in April 2026.

• Global expansion efforts include regulatory submissions in Europe and the UK, and new licensing and distribution agreements in Southeast Asia, Canada, and the Middle East.

Financial highlights

• Net revenue for Q1 2026 was $1.9M, with $1.7M from product sales and $0.25M from license revenue; no product sales in Q1 2025.

• 25,000 prescriptions filled in Q1, a 19% increase from Q4; approximately 46,000 paid prescriptions since launch.

• SG&A expenses rose to $45M in Q1 2026, up 305% year-over-year, mainly due to DTC launch investment and sales force expansion.

• Net loss for Q1 2026 was $41.5M ($1.32/share), up from $14.6M ($0.53/share) in Q1 2025; cash and equivalents at quarter-end were $258.4M.

• Cost of sales was $1.1M, mainly due to non-recurring manufacturing transition charges; direct product costs were immaterial.

Outlook and guidance

• Cash reserves of $258.4M are expected to fund operations to positive operating cash flow.

• Focus remains on expanding sales force, increasing ECP engagement, and driving adoption of VIZZ, with continued DTC marketing and international expansion.

• R&D expenses expected to remain minimal for the remainder of 2026 as focus shifts to commercial execution.

• Q1 OpEx and cash burn are expected to be higher than the go-forward quarterly run rate for the rest of 2026.

• Refill rate statistics to be shared in the second half of the year as patient cohorts mature.