LENZ Therapeutics (NASDAQ:LENZ) reported second-quarter revenue of $5.5 million as it continued the commercial launch of VIZZ, citing modest quarterly growth and a pickup in prescription activity following the July rollout of national television advertising and a telehealth access option.
Product revenue totaled more than $1.7 million on approximately 27,000 monthly packs sold, representing a 9% increase in volume from the first quarter. The company also recorded $3.8 million in license revenue tied to its ex-U.S. partnership agreements.
Persistence data point to repeat purchasing
Management emphasized early refill and repeat-purchase trends as a key indicator of VIZZ’s commercial potential. Since launch, more than 60% of e-pharmacy patients who purchased VIZZ have bought more than one monthly pack, either as part of their initial order or in later purchases, according to the company.
The e-pharmacy channel accounts for a little more than 60% of prescriptions and is LENZ’s dominant sales channel, Chief Commercial Officer Shawn Olsson said. It also provides the company with patient-level data not available from retail channels.
For patients first purchasing in the fourth quarter of 2025 and first quarter of 2026, LENZ said purchasing behavior was trending toward an annualized average of five monthly packs among the 60% of e-pharmacy patients who purchased multiple packs. The second-quarter cohort has shown a similar early pattern but is not yet mature enough for the same analysis.
Olsson said the company is seeking to support refills through its e-pharmacy channel, including discounted three-month purchases. The recently launched telehealth option also allows patients to purchase three-month supplies and enter an auto-renew cycle.
During the question-and-answer session, Schimmelpennink compared the company’s refill performance with VUITY, saying LENZ was now selling more on a weekly or monthly basis than that product. He said VUITY’s refill rate at its peak was about 10% to 12%, while LENZ was tracking at 42% for patients who refill and become repeat users. Those comparisons were provided by management and were not accompanied by additional market data on the call.
Telehealth and television campaign target new patient starts
LENZ began its national television campaign on July 6 and launched telehealth concurrently with its e-pharmacy provider. The initiatives are intended to broaden consumer awareness and reduce obstacles between product interest, clinical assessment and prescription fulfillment.
Under the telehealth process described by Olsson, prospective patients complete a medical-history and vision-symptom questionnaire to determine whether they may be eligible for evaluation. Eligible patients are then assessed by an independent, licensed eye care professional, who determines whether VIZZ is appropriate. If prescribed, the product is sent to the e-pharmacy partner for home delivery.
Olsson said telehealth patients must meet screening requirements, including having no history of retinal complications and having received a retinal exam within the past 24 months. Patients may be directed to seek an in-person physician visit if they do not qualify for telehealth.
The company did not disclose the percentage of telehealth submissions that lead to prescriptions, but said some patients were screened out both through the initial questionnaire and the subsequent telehealth assessment. LENZ said the screening survey takes only a few minutes to complete.
Management said July prescription growth came from both telehealth and other channels. Schimmelpennink said telehealth made a significant contribution to the increase but did not come at the expense of other channels, with all channels showing growth from June to July.
LENZ said its patient mix has not changed materially following the television campaign. Olsson said purchasers are approximately 60% women and 40% men, with somewhat greater interest among patients ages 45 to 55 and declining interest among those over 65.
Expenses declined while global partnership network expanded
Second-quarter cost of sales was $0.3 million. Chief Financial Officer Dan Chevallard said LENZ continues to expect VIZZ’s direct product gross margin to trend toward approximately 90% over time.
Selling, general and administrative expense declined to $39.4 million, or about $34.9 million excluding non-cash stock-based compensation. On that adjusted basis, SG&A fell 14% from the first quarter, reflecting the company’s first-quarter direct-to-consumer launch investment. Approximately 80% of SG&A was related to sales and marketing, the company said. Research and development expense remained zero.
LENZ reported a net loss of $31.9 million, or $1.02 per share on both a basic and diluted basis, and ended the quarter with approximately $220 million in cash equivalents and marketable securities.
Chevallard said management plans to assess the performance of commercial programs during the third quarter and direct spending toward activities that demonstrate the strongest ability to drive new patient adoption. The company did not provide specific spending changes by channel.
Internationally, LENZ signed a commercialization agreement with Arrotex Pharmaceuticals for Australia and New Zealand during the quarter. The agreement is the company’s fifth ex-U.S. commercial partnership for VIZZ, expanding its network across Greater China, Southeast Asia, Canada, the Middle East and Oceania. LENZ said it has nine regulatory submissions under review and expects additional submissions and potential ex-U.S. approvals by year-end.
About LENZ Therapeutics (NASDAQ:LENZ)
LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.
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