LENZ Therapeutics, Inc. (Nasdaq: LENZ) announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for LNZ100, an aceclidine-based eye drop, for the treatment of presbyopia. The FDA has set a Prescription Drug User Fee Act (PDUFA) target action date of August 8, 2025. This decision follows positive Phase 3 clinical trial results and sets the stage for a potential commercial launch in the United States as early as the fourth quarter of 2025.
LNZ100 Phase 3 Trial Results in China
In a Phase 3 study conducted in China by CORXEL and LENZ Therapeutics, LNZ100 (1.75% Aceclidine) met the primary endpoint, demonstrating a statistically significant three-line or greater improvement in Best Corrected Distance Visual Acuity (BCDVA) at near, without a loss of one line or more in distance visual acuity. The primary endpoint was achieved in 74% of patients treated with LNZ100 at 3 hours, showing a significant difference compared to the vehicle-controlled group (p<0.0001).
Commercialization Preparations
With the FDA's acceptance of the NDA, LENZ Therapeutics is actively preparing for the commercial launch of LNZ100 in the U.S., anticipating potential approval in mid-2025. The company has assembled its commercial leadership team, including sales, marketing, and commercial operations personnel, and has hired Regional Sales Directors.
Market Research and ECP Interest
Market research, including a survey of 426 Eye Care Professionals (ECPs), indicates strong interest in LNZ100. Key findings include:
- ECPs see an average of 300-400 patients per month, with 61% being presbyopic.
- 87% of ECPs include a retinal eye exam in their evaluations.
- 78% of ECPs found LNZ100 to be a well-tolerated and safe option, if approved.
- 83% of ECPs would likely sample LNZ100 based on its clinical data.
- 82% of ECPs would likely prescribe LNZ100 based on its clinical data.
Financial Position
As of September 30, 2024, LENZ Therapeutics reported cash, cash equivalents, and marketable securities of $217.2 million, which is expected to fund operations to post-launch positive operating cash flow. Research and Development expenses decreased to $6.5 million for the three months ended September 30, 2024, compared to $17.0 million during the same period in 2023, primarily due to the completion of the Phase 3 CLARITY study. Selling, General, and Administrative expenses were $6.5 million for the three months ended September 30, 2024, compared to $2.9 million during the same period in 2023.
About Presbyopia
Presbyopia affects an estimated 1.8 billion people globally and 128 million people in the United States. LENZ Therapeutics is focused on developing and commercializing LNZ100 as a potential solution for this condition, aiming to enhance vision for "all eyes, all day."
"The third quarter and recent period has continued to be a time of tremendous execution and focus on our primary objective, which is to advance LNZ100 towards approval in the United States and a commercial launch as early as the fourth quarter of 2025," said Eef Schimmelpennink, President and Chief Executive Officer of LENZ Therapeutics. "In addition, we believe the recently announced data from the Phase 3 clinical study in China is extremely important, further enhancing the potential for LNZ100 to become a global therapy for the treatment of presbyopia. With an estimated 128 million people in the United States and 400 million people in China with presbyopia, we look forward to the prospect of unlocking significant access to LNZ100 worldwide and further generating shareholder value through that effort."
