SAN DIEGO—Lenz Therapeutics, Inc. (Nasdaq: LENZ), a pharmaceutical company focused on the commercialization of VIZZ (aceclidine ophthalmologic solution) 1.44%, an FDA-approved aceclidine-based eye drop for the treatment of presbyopia, yesterday reported financial results for the second quarter ended June 30, 2026. Total revenue for the second quarter was $5.5 million from VIZZ product sales and license agreements, compared with $5.0 million for the same period last year. For the first half of the year, the company reported total revenue of $7.4 million compared with $5.0 million in the comparable period in 2025.
Net loss for the three and six months ended June 30, 2026, was $31.9 million and $73.4 million, respectively, compared with a net loss of $14.9 million and $29.5 million, respectively, during the same periods in 2025, the company stated.
“We are encouraged by the early refill behavior we are seeing with VIZZ,” said Eef Schimmelpennink, president and CEO of Lenz Therapeutics. “The majority of e-pharmacy patients have purchased multiple monthly packs since launch, and among those patients, our Q4 2025 and Q1 2026 cohorts are tracking to average annualized utilization of five packs per patient. These trends reinforce the value VIZZ is delivering in the real world.
“Our focus is now on bringing more consumers into the category and making access as seamless as possible,” he added. “Through telehealth, eligible consumers can be evaluated online by an independent licensed eyecare professional and, if prescribed, receive VIZZ at home. Together with our national ‘Tired of Reading Glasses’ campaign, telehealth is designed to more readily convert awareness into adoption. While it is still early, the initial indicators are encouraging, and we believe we are building the foundation for sustained growth driven by consumers.”
The company reported broad uptake of VIZZ by eyecare professionals, with over 13,000 unique prescribers from launch in July of 2025 through Q2 2026, with approximately 75 percent of ECPs prescribing multiple times. Net product sales were reported at $1.7 million and $3.4 million for the three and six months ended June 30, 2026, respectively, driven by approximately 27,000 and 52,000 packs sold and delivered to the customer in the respective periods. The company had no product sales during the three and six months ended June 30, 2025.
License revenue was $3.8 million and $4.0 million for the three and six months ended June 30, 2026, the company advised. Cost of sales was $0.3 million and $1.4 million for the three and six months ended June 30, 2026, respectively. Direct product cost of sales in connection with the sales of VIZZ was $0.3 million for the three and six months ended June 30, 2026. Total cost of sales during the six months ended June 30, 2026 was composed primarily of non-recurring events recognized in the first quarter related to a manufacturing process transition and unrelated to product sales. There was no cost of sales during the three and six months ended June 30, 2025.
Selling, general and administrative expenses increased to $39.4 million and $84.3 million for the three and six months ended June 30, 2026, compared with $12.8 million and $23.9 million during the same respective periods in 2025, primarily driven by the company’s launch investment.
There were no research and development expenses for the three and six months ended June 30, 2026, compared with $9.1 million and $14.9 million during the same respective periods in 2025 due to the FDA approval of VIZZ in July 2025, the company stated. Cash, cash equivalents and marketable securities were $220.0 million as of June 30, 2026.
In June, Lenz and Arrotex Pharmaceuticals Pty Ltd. announced an exclusive licensing and commercialization agreement under which Arrotex will register and commercialize VIZZ eye drops for the treatment of presbyopia in Australia and New Zealand. The following month, Lenz advised that VIZZ was available through a new telehealth platform, providing an integrated online evaluation by independent licensed eyecare providers, e-pharmacy prescription fulfillment and home delivery.
