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LENZ on Nasdaq

LENZ Therapeutics, Inc.

In its 2026 annual report the company says: “We are a commercial pharmaceutical company focused on the development and commercialization of innovative therapies to improve vision.”4 It is headquartered in Solana Beach, California.1 Its shares trade on Nasdaq under the symbol LENZ.1

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Last updated Oct 21, 2026.

Overview

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  • TickerLENZ on Nasdaq1
  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersSolana Beach, California1
  • Incorporated inDE2
  • Business address201 Lomas Santa Fe Drive, Suite 300, Solana Beach, Ca 920752
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2

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We are a commercial pharmaceutical company focused on the development and commercialization of innovative therapies to improve vision. On July 31, 2025, the United States (“U.S.”) Food and Drug Administration (“FDA”) approved VIZZ ® (aceclidine ophthalmic solution) 1.44%, formerly known as LNZ100, the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the U.S. We are commercializing VIZZ in the U.S. and continue to establish licensing and distribution partnerships internationally to provide access to VIZZ globally. We believe that a once-daily pharmacological eye drop that can effectively and safely improve near vision throughout the full workday, without the need for reading glasses, is a highly attractive commercial product with an estimated U.S. market opportuni…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-477.5%Operating margin5
-430.3%Net margin5
-28.9%Return on equity5
-$70.0MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

License brought in 92% of the revenue LENZ Therapeutics, Inc. broke down this way in fiscal 2025.

  1. License$17.5M592%
  2. Product$1.6M58%
Products and services by year
Products and services20242025
License$0$17.5M
Product$0$1.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$418.0K
  • Research and development17¢$18.7M
  • Selling, general and admin82¢$91.1M
  • Income tax0¢$502.0K

Out of $19.1M in revenue.5 The company lost money this year.

Financial statements

Revenue5$19.1M in 2025
0$5.0M$10.0M$15.0M$20.0M2024: $0$020242025: $19.1M$19.1M2025
Operating income67895-$91.1M in 2025+575% since 2020
-$150.0M-$100.0M-$50.0M02020: -$13.5M-$13.5M20202021: -$60.4M-$60.4M2021+348%2022: -$105.6M-$105.6M2022+75%2023: -$72.4M-$72.4M2023−31%2024: -$58.6M-$58.6M2024−19%2025: -$91.1M-$91.1M2025+55%
Net income67895-$82.1M in 2025+20% since 2020
-$150.0M-$100.0M-$50.0M02020: -$68.4M-$68.4M20202021: -$70.8M-$70.8M2021+3%2022: -$101.1M-$101.1M2022+43%2023: -$70.0M-$70.0M2023−31%2024: -$49.8M-$49.8M2024−29%2025: -$82.1M-$82.1M2025+65%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Total revenue$19.1M$0
Cost of sales$418.0K$0
Selling, general and administrative$91.1M$28.8M
Research and development$18.7M$29.8M
Total operating expenses$110.2M$58.6M
Loss from operations-$91.1M-$58.6M
Other (expense) income-$243.0K$289.0K
Interest income$9.8M$8.6M
Total other income, net$9.5M$8.8M
Net loss before income taxes-$81.6M-$49.8M
Income tax expense$502.0K$1.0K
Net loss-$82.1M-$49.8M
Unrealized gain on marketable securities$46.0K$190.0K
Comprehensive loss-$82.1M-$49.6M
Net loss per share - basic (in dollars per share)-$2.85-$2.34
Net loss per share - diluted (in dollars per share)-$2.85-$2.34
Weighted-average common shares outstanding, basic (in shares)28.8M shares21.3M shares
Weighted-average common shares outstanding, diluted (in shares)28.8M shares21.3M shares

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Corporate structure

LENZ Therapeutics, Inc. sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LENZ Therapeutics, Inc.

  • LENZ Therapeutics, Inc. Solana Beach, California
    • LENZ Netherlands B.V. Subsidiary · Netherlands
    • LENZ Therapeutics Operations, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LENZ Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.5M5 Dec 31, 2025$719.0K5 Dec 31, 2024+114.7%
Accumulated depreciation$355.0K5 Dec 31, 2025$68.0K5 Dec 31, 2024+422.1%
Property and equipment, net$1.2M5 Dec 31, 2025$651.0K5 Dec 31, 2024+82.6%
Operating-lease assets (leased space)$734.0K5 Dec 31, 2025$1.3M5 Dec 31, 2024−45.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$25.2M5 Dec 31, 2025$20.2M5 Dec 31, 2024+24.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$2.9M5 Dec 31, 2025$05 Dec 31, 2024
Raw materials$2.8M5 Dec 31, 2025
Finished goods$175.0K5 Dec 31, 2025

Properties, in its own words

Our corporate headquarters is located in Solana Beach, California, and consists of 9,795 square feet of office space pursuant to a lease that expires in September 2027.

We lease all of our facilities and do not own any real property. We believe that our existing facilities are adequate and suitable for our current needs and that, should it be needed, suitable additional or alternative space will be available as and when needed.

Item 2 of the 10-K filed Mar 24, 2026.4

Leadership

Who has led LENZ Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Joshua Lehrer-Graiwer2021–2023
  2. Evert B. Schimmelpennink2024–now

President

  1. Joshua Lehrer-Graiwer2021–2023
  2. Evert B. Schimmelpennink2024–now

Chief financial officer

  1. Alethia Young2022–2023
  2. Daniel R. Chevallard2024–now

Chief operating officer

  1. Katherine Stultz V.2021
2025
Board members and other officers (22)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • LENZ Netherlands B.V. Netherlands3
  • LENZ Therapeutics Operations, Inc. Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Graphite Bio, Inc.Mar 19, 2021 to Mar 19, 20242

Timeline

  1. Aug 11, 20268-K Results of operations36
  2. Jul 2, 20268-K Executive or director change37
  3. Jun 12, 20268-K Shareholder vote38
  4. May 11, 20268-K Results of operations39
  5. Mar 24, 20268-K Results of operations40
  6. Jan 7, 20268-K Results of operations41
  7. Dec 12, 20258-K Other events42
  8. Nov 5, 20258-K Results of operations43
  9. Oct 8, 20258-K Other events44
  10. Sep 30, 20258-K Regulation FD disclosure; Other events45
  11. Jul 31, 20258-K Other events46
  12. Jul 30, 20258-K Results of operations47
  13. Mar 25, 2024New chief executive Evert B. Schimmelpennink becomes CEO12
  14. Jun 24, 2021New chief executive Joshua Lehrer-Graiwer becomes CEO13

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.59) a share, on Nov 5, 2025.48

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results36
  2. May 11, 2026Reported quarterly or annual results39
  3. Mar 24, 2026Reported quarterly or annual results40
  4. Jan 7, 2026Reported quarterly or annual results41
  5. Nov 5, 2025Reported quarterly or annual results43
  6. Jul 30, 2025Reported quarterly or annual results47
  7. May 7, 2025Reported quarterly or annual results49
  8. Apr 15, 2025Reported quarterly or annual results50

Drug trials and FDA: recently

  1. Jul 31, 2025FDA approval FDA approved Vizz (aceclidine hydrochloride), a new molecular entity (NDA 218585).51

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

295 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 57 major events, 101 insider forms, 40 large holders, 76 other. The latest 20:

  1. Sep 8, 2026SCHEDULE 13G/A EDGAR
  2. Aug 11, 202610-Q EDGAR
  3. Aug 11, 20268-K EDGAR
  4. Jul 2, 20268-K EDGAR
  5. Jun 26, 2026SCHEDULE 13G EDGAR
  6. Jun 15, 20264 EDGAR
  7. Jun 15, 20264 EDGAR
  8. Jun 15, 20264 EDGAR
  9. Jun 15, 20264 EDGAR
  10. Jun 15, 20264 EDGAR
  11. Jun 15, 20264 EDGAR
  12. Jun 15, 20264 EDGAR
  13. Jun 12, 20268-K EDGAR
  14. May 11, 202610-Q EDGAR
  15. May 11, 20268-K EDGAR
  16. Apr 28, 2026ARS EDGAR
  17. Apr 28, 2026DEFA14A EDGAR
  18. Apr 28, 2026DEF 14A EDGAR
  19. Apr 27, 2026SCHEDULE 13G EDGAR
  20. Apr 8, 2026SCHEDULE 13G EDGAR

The 295 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

36 open-market trades by officers, directors and large owners since October 2021: 23 buys and 13 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 27, 2026George Jeffrey P.DirectorBuy5,592$8.92$49.9KForm 4
Mar 27, 2026Schimmelpennink Evert B.President, CEO and SecretaryBuy28,089$8.95$251.4KForm 4
Mar 27, 2026Chevallard Daniel R.Chief Financial OfficerBuy7,500$8.57$64.3KForm 4
Nov 17, 2025Olsson ShawnChief Commercial OfficerSale10,000$26.10$261.0KForm 4
Nov 7, 2025MCCOLLUM JAMES WDirectorBuy10,500$22.79$239.3KForm 4
Nov 7, 2025Chevallard Daniel R.Chief Financial OfficerBuy2,198$22.76$50.0KForm 4
Sep 30, 2025Versant Vantage II GP-GP, LLC10% ownerSale224,974$46.01$10.4MForm 4
Sep 18, 2025Versant Venture Capital VI, L.P.10% ownerSale135,304$42.23$5.7MForm 4
Aug 26, 2025Versant Ventures VII GP, L.P.10% ownerSale70,811$39.01$2.8MForm 4
Aug 25, 2025Versant Ventures VII GP, L.P.10% ownerSale78,237$39.55$3.1MForm 4
Aug 22, 2025Versant Ventures VII GP, L.P.10% ownerSale39,046$40.15$1.6MForm 4
Aug 18, 2025Versant Venture Capital VI, L.P.10% ownerSale45,713$38.56$1.8MForm 4
Aug 15, 2025Versant Venture Capital VI, L.P.10% ownerSale215,000$39.50$8.5MForm 4
Jul 10, 2025Versant Ventures VII GP-GP, LLC10% ownerSale191,376$34.00$6.5MForm 4
Jun 27, 2025Versant Vantage II GP-GP, LLC10% ownerSale200,000$30.47$6.1MForm 4
Jun 20, 2025Versant Ventures VI GP, L.P.10% ownerSale234,801$30.29$7.1MForm 4
Jun 18, 2025Versant Ventures VI GP, L.P.10% ownerSale100,000$29.95$3.0MForm 4
Jun 10, 2025Versant Vantage II GP-GP, LLC10% ownerSale350,000$29.00$10.2MForm 4
May 14, 2024Chevallard Daniel R.Chief Financial OfficerBuy3,188$15.68$50.0KForm 4
May 13, 2024MCCOLLUM JAMES WDirectorBuy31,332$15.99$501.0KForm 4

All 36 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025President and Chief Executive Officer$690.0K$7.0M67
2025Chief Medical Officer$500.0K$2.4M67
2025Chief Commercial Officer$467.5K$2.4M67
2024President and Chief Executive Officer$607.1K$7.0M67
2024Chief Medical Officer$466.2K$2.0M67
2024Chief Commercial Officer$412.7K$2.0M67

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ra Capital Management, L.P.4,178,823$23.7M0.2%No change
Alpha Wave Global, LP3,612,211$20.5M0.3%No change
Fmr LLC3,558,905$20.2M0.0%−38,879
Versant Venture Management, LLC2,656,888$15.1M9.3%No change
BlackRock, Inc.2,292,121$13.0M0.0%+315,298
Squarepoint Ops LLC1,747,096$9.9M0.0%+240,597
Aberdeen Group plc1,547,883$8.8M0.0%+391,722
Millennium Management LLC1,508,478$8.6M0.0%+639,221
Vanguard Capital Management LLC1,097,755$6.2M0.0%+56,567
72 Investment Holdings, LLC1,017,751$5.8M11.6%No change
Blue Owl Capital Holdings LP756,722$4.3M0.7%+250,000
Geode Capital Management, LLC564,662$3.2M0.0%+40,088
Trexquant Investment LP497,526$2.8M0.0%+283,118
Marshall Wace, Llp493,099$2.8M0.0%+332,835
Qube Research & Technologies Ltd482,195$2.7M0.0%New
Morgan Stanley472,995$2.7M0.0%−175,853
Primecap Management Co/ca/472,200$2.7M0.0%No change
Tang Capital Management LLC451,114$2.6M0.1%No change
Alyeska Investment Group, L.P.438,882$2.5M0.0%−24,613
State Street Corp406,674$2.3M0.0%+4,449
Citadel Advisors LLC363,229$2.1M0.0%New
Two Sigma Investments, LP285,584$1.6M0.0%−215,413
Rock Springs Capital Management LP257,460$1.5M0.1%No change
Bank Of America Corp /de/255,410$1.5M0.0%−292,124
Discovery Capital Management, LLC / Ct241,300$1.4M0.1%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How LENZ Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLENZ Therapeutics, Inc.1
  • CIK0001815776
  • Employer ID (EIN)84-48675704
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address201 Lomas Santa Fe Drive, Suite 300, Solana Beach, CA 920751
  • Phone858-925-70001
  • Shares outstanding31,420,343 as of Aug 5, 202611
  • Public float$690.1M as of Jun 30, 20254
  • AuditorErnst & Young LLP, San Diego, California PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 19, 20211
  • Filings350 in all: 4 (98), 8-K (57), 3 (29), 10-Q (16), 424B3 (14), CORRESP (14), UPLOAD (11), EFFECT (9)1
    All 40 form types

    SC 13G/A (9), SC 13G (8), SCHEDULE 13D/A (8), S-8 (6), SCHEDULE 13G (6), SCHEDULE 13G/A (6), 10-K (5), 425 (5), DEF 14A (4), DEFA14A (4), S-1/A (4), SEC STAFF LETTER (4), ARS (3), S-1 (3), S-3 (3), S-4/A (3), SC 13D/A (3), 8-K/A (2), POS AM (2), SC 13D (2), 10-K/A (1), 144 (1), 424B4 (1), 424B5 (1), 8-A12B (1), CERT (1), D (1), DRS (1), DRS/A (1), DRSLTR (1), S-1MEF (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 24, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 28, 2026
    Latest 8-K (8-K) Aug 11, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 per shareLENZThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks LENZ Therapeutics, Inc. names in Item 1A of its 10-K filed Mar 24, 2026: 60 risks under these headings, as written.4

  • Risks Related to Our Limited Operating History and Commercialization of Our Product Candidates
  • We are a commercial pharmaceutical company with limited operating history. We have incurred significant losses and negative cash flows from operations since our formation, and we anticipate that we will continue to incur losses in our early stages of commercialization. Until recently, we did not have any products approved for commercial sale and we have not generated significant revenue from product sales, which may make it difficult for you to evaluate our current business and predict our future success and viability.
  • Our business depends entirely on the development and commercialization of VIZZ and we do not have additional product candidates in our current development pipeline. If we are unable to successfully commercialize VIZZ, our business will be materially harmed.
  • VIZZ may fail to achieve market acceptance by ECPs and patients, and the market opportunity for VIZZ may be smaller than we estimate.
  • We face significant competition, and if our competitors develop and market technologies or products more rapidly than we do or that are more effective, safer or less expensive than VIZZ, our commercial opportunities will be negatively impacted. VIZZ may also face competition from existing branded, generic and off-label products.
  • If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market our product on acceptable terms, we may be unable to successfully commercialize our product. In addition, our intended sales strategies may be unsuccessful and/or more costly than anticipated.
  • We may need to raise additional financing in the future to fund our operations, which may not be available to us on favorable terms or at all.
  • VIZZ is based on an active pharmaceutical ingredient (“API”), aceclidine, that has been previously approved and marketed outside of the U.S., which exposes us to additional risks.
  • Our current product or future product candidates may fail to demonstrate substantial evidence of their safety and efficacy or cause significant adverse events or other undesirable side effects may be identified, which could prevent, delay or limit the scope of regulatory approval of our product candidates, prevent market acceptance of our product, limit our commercial potential or result in significant negative consequences.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of VIZZ.
  • A variety of risks associated with marketing our product candidates internationally could materially adversely affect our business.
  • Risks Related to Our Intellectual Property
The other 49 risks
  • If we are unable to obtain and maintain sufficient intellectual property protection for VIZZ, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors or other third parties could develop and commercialize products similar or identical to ours, and our ability to successfully develop and commercialize VIZZ or other product candidates, if approved, may be adversely affected.
  • Patent terms may be inadequate to protect our competitive position on our product and product candidates for an adequate amount of time.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment, and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for noncompliance with these requirements.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market our products.
  • We may become involved in third-party claims of intellectual property infringement, which may delay or prevent the development and commercialization of VIZZ and any future product candidate.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property rights, or the patents or other intellectual property rights of any licensors, which could be expensive, time consuming, and unsuccessful, and could result in a court or administrative body finding our patents to be invalid or unenforceable.
  • Because of the expense and uncertainty of litigation, we may not be in a position to enforce our intellectual property rights against third parties.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our product or any future product candidates.
  • We may not be able to protect our intellectual property rights throughout the world, which could impair our business.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of their former employers or other third parties or claims asserting ownership of what we regard as our own intellectual property.
  • If our future trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • Any collaboration or partnership arrangements that we may enter into in the future may not be successful, which could adversely affect our ability to develop and commercialize our current or future product candidates.
  • If we fail to comply with our obligations under any license, collaboration or other agreements, such agreements may be terminated, we may be required to pay damages and could lose intellectual property rights that are necessary for developing and protecting our product or future product candidates.
  • We may not be able to license or acquire new or necessary intellectual property rights or technology from third parties.
  • Risks Related to Our Regulatory Approval and Other Legal Compliance Matters
  • The regulatory approval processes of the FDA and other comparable foreign regulatory authorities are lengthy, time consuming and inherently unpredictable. If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals for our product candidates, we will not be able to commercialize, or will be delayed in commercializing, our product candidates, and our ability to generate revenue will be materially impaired.
  • Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.
  • Despite FDA approval of VIZZ, we will be subject to ongoing regulatory obligations and continued regulatory oversight, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our product or product candidates.
  • Disruptions at the FDA, the SEC, and other government agencies caused by funding shortages or global health concerns could hinder their ability to hire and retain key leadership and other personnel, or otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • We may face difficulties from changes to current regulations and future legislation. Healthcare legislative measures aimed at reducing healthcare costs may have a material adverse effect on our business and results of operations.
  • We may be subject to federal and state healthcare fraud and abuse laws, false claims laws, transparency laws, and health information privacy and security laws, which could expose us to, among other things, criminal sanctions, civil penalties, contractual damages, reputational harm, administrative burdens, and diminished profits and future earnings.
  • Our employees, independent contractors, consultants, commercial collaborators, principal investigators, CROs, suppliers and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations and can face serious consequences for violations.
  • Restrictive laws and regulations govern the collection, use, transfer, and other processing of personal information.
  • Risks Related to Our Reliance on Third Parties
  • We contract with third parties for the manufacture of VIZZ, and expect to continue to do so for commercialization. This reliance on third parties increases the risk that we will not have sufficient quantities of VIZZ or such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • The manufacture of drugs is complex and our third-party manufacturers may encounter difficulties in production. If any of our third-party manufacturers encounter such difficulties, our ability to provide adequate supply of VIZZ for patients could be delayed or prevented.
  • We have entered into license and collaboration agreements with various partners and depend on these partners to develop and commercialize products within the territories referenced in the respective license and collaboration agreements. We have limited control over how our partners will conduct development and commercialization activities for VIZZ or LNZ101.
  • Risks Related to Our Business Operations
  • Our success is highly dependent on our ability to attract and retain highly skilled executive officers and employees.
  • If we engage in acquisitions, in-licensing or strategic partnerships, this may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities and subject us to other risks.
  • We expect to significantly expand our organization, including building sales and marketing capability and creating additional infrastructure to support our operations as a public company, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • We could be subject to securities class action litigation, which is expensive and could divert management attention.
  • Our internal computer systems, or those of any of our CROs, manufacturers, other contractors or consultants or potential future collaborators, may fail or suffer actual or suspected security or privacy breaches or incidents or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data, or personal data, which could result in additional costs, loss of revenue, significant liabilities, harm to our brand and material disruption of our operations, and potentially significant delays in our delivery to market.
  • Risks Related to Our Common Stock
  • An active trading market for our common stock may never develop or be sustained.
  • The market price of our common stock is expected to be volatile, and the market price of the common stock may drop.
  • A sale of a substantial number of shares of our common stock may cause the price of our common stock to decline.
  • Our board of directors is authorized to issue and designate shares of our convertible preferred stock in additional series without stockholder approval.
  • We will continue to be an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies and smaller reporting companies will make our common stock less attractive to investors.
  • Once we are no longer an emerging growth company, a smaller reporting company or otherwise no longer qualify for applicable exemptions, we will be subject to additional laws and regulations affecting public companies that will increase our costs and the demands on management and could harm our operating results and cash flows.
  • If we fail to maintain proper and effective internal controls, our ability to produce accurate financial statements on a timely basis could be impaired.
  • Our certificate of incorporation and bylaws and provisions under Delaware law could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our management.
  • Our bylaws provide that, unless we consent in writing to the selection of an alternative forum, certain designated courts will be the sole and exclusive forum for certain legal actions between us and our stockholders, which could limit stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or agents.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • The disposal of Graphite’s historical assets and operations in connection with the Merger made us subject to the SEC requirements applicable to reporting shell company business combinations. As a result, we will be subject to more stringent reporting requirements, offering limitations, and resale restrictions.
  • If equity research analysts do not publish research or reports, or publish unfavorable research or reports, about us, our business, or our market, our stock price and trading volume could decline.
  • We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
  • Our ability to use net operating loss carryforwards and other tax attributes may be limited.
  • Unfavorable global economic conditions could adversely affect our business, financial condition, results of operations, or cash flows.

Legal proceedings

From time to time, we may be subject to legal proceedings and claims arising in the ordinary course of our business. We are not currently a party to or aware of any proceedings that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations.

The opening of Item 3, Legal Proceedings.4

Sources

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