Company: LENZ
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001815776-25-000056
Chunk: 491

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 491
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 $12.8 million for the three months ended June 30, 2025 compared to $7.4 million for the three months ended June 30, 2024. The change was primarily driven by increases of $3.9 million in employee salaries and related expenses due to a rise in headcount, including the hiring of eighty-eight sales specialists, and $1.4 million in pre-commercial marketing, advertising and sales infrastructure expenses as we prepare for a potential commercial launch of LNZ100, subject to FDA approval.

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Other Income, net

Other income, net for the three months ended June 30, 2025, was $2.4 million, compared to $4.1 million for the three months ended June 30, 2024. Interest income earned on our cash, cash equivalents, and marketable securities were materially consistent in the comparative periods. During the three months ended June 30, 2024, we recorded other income of $1.3 million due to a change in the fair value of the Company’s equity investment without a readily determinable fair value.

Comparison of the Six Months Ended June 30, 2025 and 2024

The following table presents the results of operations for the periods indicated (amounts in thousands, except percentages):

Six Months Ended June 30,20252024$ Change% ChangeLicense revenue$5,000 $— $5,000 N/AResearch and development expenses14,879 17,482 (2,603)(15)%Selling, general and administrative expenses23,909 12,958 10,951 85 %Other income, net4,757 3,538 1,219 34 %

License Revenue

License revenue increased during the six months ended June 30, 2025 due to revenue recognized from the upfront payment under the Lotus License. There was no license revenue in the six months ended June 30, 2024.

Research and Development

Research and development expenses incurred for the six months ended June 30, 2025 were primarily driven by pre-approval and contingent product manufacturing activities to support the potential commercial launch of LNZ100, while research and development expenses incurred for the six months ended June 30, 2024 were substantially all related to the development of LNZ100 in our Phase 3 CLARITY trials.

Research and development expenses decreased $2.6 million, or 15%, to $14.9 million for the