Blindness-Focused LENZ Therapeutics' Investigational Eye Drop Ready To Revolutionize Presbyopia Landscape, Analyst Says

Last week, LENZ Therapeutics Inc LENZ released topline results from its Phase 3 CLARITY study of two investigational formulations of aceclidine, LNZ100 and LNZ101.

Lead product candidate LNZ100 (1.75% aceclidine) achieved the primary endpoints and key secondary endpoints, with statistically significant three-lines or greater improvement in Best Corrected Distance Visual Acuity (BCDVA) at near, without losing one line or more in distance visual acuity. 

Citi analyst writes that with promising Phase 3 results and the completion of the reverse merger with Graphite Bio, LNZ100 appears ready to revolutionize the landscape of presbyopia (age-related near-vision loss) treatment.

Citigroup has initiated coverage on LENZ Therapeutics with a Buy rating and a price target of $34.

As nearly everyone eventually requires reading glasses or other corrections for near-vision decline by age 45, LNZ100 offers a convenient once-daily eye drop solution that temporarily improves visual acuity by constricting the pupil, potentially replacing the need for reading glasses. 

AbbVie Inc’s ABBV Vuity validated this market, but its effectiveness was hindered by its short duration (~6 hours) and serious side effects, like retinal detachment post-approval. 

In contrast, LNZ100 has demonstrated clinically significant all-day near-vision improvement (~10 hours) with no notable safety issues. 

This positions LENZ favorably to fill the gap left by Vuity and introduce a presbyopia eye drop treatment into mainstream use.

Price Action: LENZ shares are up 3.36% at $21.20 on the last check Wednesday.

Photo by Amanda Dalbjörn on Unsplash