Company: LENZ
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001815776-25-000056
Chunk: 315

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 315
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 subsequently exchanged for 95,034 shares of common stock at the closing of the Merger.The Series A Convertible Preferred stock warrants had an exercise price of $2.15 per share and were issued in October 2020 with an expiration date in October 2027. There were no exercises of the Series A Convertible Preferred stock warrants for any of the periods presented. In connection with the Merger, the Series A preferred stock warrants were converted to 164,676 common stock warrants of the Company at an exercise price of $10.64, and were subsequently reclassified to stockholders’ equity at their fair value of $1.9 million.Share-Based CompensationShare-based compensation expense was as follows (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Selling, general and administrative$2,118 $1,235 $4,020 $1,988 

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Research and development727 362 1,380 556 Total$2,845 $1,597 $5,400 $2,544 

8.     Net Loss Per Share

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share attributable to common stockholders for the period indicated because including them would have had an anti-dilutive effect:June 30,20252024Common stock options granted and outstanding3,888,1453,005,809Warrants to purchase common stock164,252164,676Restricted stock units granted and outstanding29,740—ESPP shares to be purchased4,791—Total4,086,9283,170,485

9.     License Agreements

CORXEL License and Collaboration AgreementIn April 2022, the Company entered into a license and collaboration agreement providing an exclusive license (the “CORXEL License,” formerly referred to as the “Ji Xing License”) to certain of the Company’s intellectual property (“IP”) for use in the treatment of presbyopia in humans in mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region, and