Company: LENZ
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001815776-25-000056
Chunk: 378

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 378
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 $1.0 million decrease in contract regulatory consulting expenses associated with the prior period preparation and filing of our NDA for LNZ100. The decrease was partially offset by a $2.4 million increase in employee salaries and related expenses due to increased non-clinical regulatory and CMC headcount, a $1.6 million increase in contract manufacturing expenses, and a $0.3 million increase in travel expenses.

Selling, General and Administrative

Selling, general and administrative expenses increased $11.0 million, or 85%, to $23.9 million for the six months ended June 30, 2025 compared to $13.0 million for the six months ended June 30, 2024. Increases in the comparative period included $6.6 million in employee salaries and related expenses due to a rise in headcount, $3.2 million in pre-commercial marketing, advertising and sales infrastructure as we expanded our pre-commercial planning initiatives for a potential commercial launch of LNZ100, subject to FDA approval, and $0.7 million in travel expenses.

Other Income, net

Other income, net for the six months ended June 30, 2025, was $4.8 million, compared to $3.5 million for the six months ended June 30, 2024. Interest income earned on our cash, cash equivalents, and marketable securities increased by $1.3 million as a result of an overall increase in cash on-hand in 2025 over the comparative period. During the six months ended June 30, 2024, we recorded a $1.0 million charge due to an increase in the fair value of the preferred stock warrants liability, resulting in a non-recurring, non-cash charge at the close of the Merger, and $1.3 million in other income related to an increase in the fair value of the Company's equity investment without a readily determinable fair value.

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Liquidity and Capital Resources

Sources of Liquidity

As of June 30, 2025, we had $209.6 million of cash, cash equivalents, restricted cash, and marketable securities. We have incurred net losses in each year since inception and as of June 30, 2025, we had an accumulated deficit of $174.5 million. Our net losses were $14.9 million and $10.3 million for the three months ended June 30, 2025 and 2024, respectively, and $29