Company: LENZ
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001815776-25-000032
Chunk: 291

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 291
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 2024—$— —$— —$— —$— 25,500,130$— $310,061 $(111,893)$(1)$198,167 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

(1)Retroactively recast for the reverse recapitalization as described in Note 3.

4

LENZ THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(in thousands)

(unaudited)

Three Months Ended March 31,20252024Cash flows from operating activitiesNet loss$(14,619)$(16,648)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization36 5 Loss on impairment of operating right-of-use assets and related property and equipment82 — Accretion of discounts on marketable securities(1,134)(275)Change in fair value of preferred stock warrants— 1,047 Share-based compensation expense2,555 947 Changes in operating assets and liabilities:Prepaid expenses and other current assets(996)(518)Accounts payable(771)(1,269)Accrued liabilities(1,202)(7,226)Net cash used in operating activities(16,049)(23,937)Cash flows from investing activitiesPurchases of marketable securities(33,091)— Proceeds from maturities of marketable securities52,090 18,000 Purchases of property and equipment(110)— Net cash provided by investing activities18,889 18,000 Cash flows from financing activitiesProceeds from issuance of common stock, net of issuance costs— 53,387 Cash, cash equivalents, and restricted cash acquired in connection with the Merger— 117,824 Merger transaction costs— (373)Proceeds from exercises of stock options44 430 Net cash provided by financing activities44 171,268 Net increase in cash, cash equivalents, and restricted cash2,884 165,331 Cash and cash equivalents, and restricted cash, beginning of the period20,272 35,140 Cash, cash equivalents, and restricted cash, end of the period$23,156 $200,471 Supplemental cash flow informationConversion of Series A, A-1, and B convertible preferred stock to common stock$— $137,490 Conversion