LENZ
Commercializes VIZZ, an FDA-approved aceclidine eye drop for adult presbyopia.
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Profile
Sells VIZZ, a prescription eye drop for adult presbyopia, through U.S. pharmacy and e-pharmacy channels. International activity is handled through licensing and distribution partners, while the business reports one operating segment and depends on post-approval commercial execution, third-party manufacturing, and partner-led ex-U.S. development.
Commercializes VIZZ, the company's single marketed product, for adult presbyopia. The eye drop moved the issuer from late-stage clinical development to U.S. launch after FDA approval.
Sells in the United States through wholesalers serving retail pharmacies and through a direct-to-patient e-pharmacy partner. Outside the United States, market access runs through partners covering Greater China, South Korea and Southeast Asia, Canada, and parts of the Middle East.
Operates as one segment from Solana Beach, CA, with commercial infrastructure now more important than clinical trial execution. Pivotal trial work is substantially completed, and the context reports no ongoing clinical trials.
Business dependencies sit in product adoption, self-pay demand, third-party manufacturing, and partner execution outside the United States.
Company facts
Key statistics
Year to date −68.0% · Average volume (30d) 778.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Citigroup | Downgrade | Buy | Neutral | ||
| Aug 12, 2026 | Piper Sandler | Reiterate | Neutral | $12 | $7 | |
| May 12, 2026 | Piper Sandler | Downgrade | Overweight | Neutral | $67 | $12 |
| Oct 27, 2025 | H.C. Wainwright | Target | $56 | |||
| Oct 10, 2025 | Piper Sandler | Reiterate | Overweight | $51 | $67 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$1.05 | −$1.02 | +2.9% | $2.4M | $5.5M | +130.8% | −3.26% |
| May 11, 2026Q1 FY26 | −$1.10 | −$1.32 | −20.0% | $1.8M | $1.9M | +8.1% | −20.82% |
| Mar 24, 2026Q4 FY25 | −$0.91 | −$1.16 | −27.5% | $3.1M | $1.6M | −48.5% | +0.44% |
| Nov 5, 2025Q3 FY25 | −$0.67 | −$0.59 | +11.9% | $3.0M | $12.5M | +310.0% | +6.94% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $5.0M | $12.5M | $1.6M | $1.9M | $5.5M | |
| Gross profit | −$36.0K | $5.0M | $12.4M | $1.1M | $714.0K | $5.2M | |
| Operating income | −$16.9M | −$16.9M | −$18.9M | −$38.5M | −$44.1M | −$34.2M | |
| Net income | −$14.6M | −$14.9M | −$16.7M | −$35.9M | −$41.5M | −$31.9M | |
| Diluted EPS | −$0.53 | −$0.53 | −$0.59 | −$1.16 | −$1.32 | −$1.02 | |
| Gross margin | — | 99.6% | 99.0% | 66.9% | 37.6% | 94.9% | |
| Operating margin | — | -337.1% | -151.1% | -2,422.1% | -2,321.7% | -622.9% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $19.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $220.0M · Total debt $122.0K · Total assets $236.6M · Shareholders' equity $219.3M
Dividends
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Mar 22, 2024 | Mar 18 | $1.03 | ||
| Mar 15, 2024 | $1.03 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 31.35M · Float 27.36M · 87.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Rajeev Shah | 4.27M | 13.60% | 13D | Nov 7, 2025 |
| Ra Capital Management, L.P. | 4.18M | 13.33% | 13F | Aug 14, 2026 |
| Alpha Wave Global, LP | 3.61M | 11.52% | 13F | Aug 13, 2026 |
| FMR LLC | 3.56M | 11.35% | 13F | Aug 13, 2026 |
| Versant Venture Management, LLC | 2.66M | 8.47% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 27, 2026 | Daniel R. Chevallard | officer: Chief Financial Officer | +7,500 | $8.57 |
| Mar 27, 2026 | Evert B. Schimmelpennink | director, officer: President, CEO and Secretary | +28,089 | $8.95 |
| Mar 27, 2026 | Jeffrey P. George | director | +5,592 | $8.92 |
| Nov 17, 2025 | Shawn Olsson | officer: Chief Commercial Officer | −10,000 | $26.10 |
| Nov 7, 2025 | James W. Mccollum | director | +10,500 | $22.79 |
Peers
- AbbVie
Branded Vuity incumbent in pharmacologic presbyopia drops
- Amneal Pharmaceuticals
Lower-cost generic pilocarpine substitute for Vuity
- Alcon
Global eye-care substitute across contacts and IOLs
- Viatris
Commercial-rights holder for phentolamine presbyopia sNDA
- Johnson & Johnson
Large-scale ACUVUE substitute for presbyopia correction
- Bausch + Lomb
Public eye-care substitute through multifocal lenses
- CooperCompanies
CooperVision multifocal lens alternative for presbyopia
- Opus Genetics
Development owner behind phentolamine presbyopia program
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LENZ | $4.72 | −7.77% | $160.2M | — | — | 7.5 | +9.7% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Amneal Pharmaceuticals | $17.54 | 0.00% | $5.60B | 36.0 | 16.9 | 1.8 | +9.9% |
| Alcon | $72.15 | +0.21% | $35.12B | 55.4 | 18.6 | 3.3 | +7.5% |
| Viatris | $16.30 | −0.23% | $19.03B | — | 6.4 | 1.3 | +4.9% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Bausch + Lomb | $17.15 | 0.00% | $6.13B | — | 17.2 | 1.2 | +9.1% |
| CooperCompanies | $71.17 | +0.01% | $13.88B | 60.3 | 15.0 | 3.3 | +7.9% |
| Opus Genetics | $3.81 | +2.70% | $304.7M | — | — | 30.9 | −73.8% |
| Median | 55.4 | 16.9 | 3.3 | +7.7% |