Company: LENZ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001815776-25-000071
Chunk: 349

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 349
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 without a readily determinable fair value during the three and nine months ended September 30, 2025 and 2024.

5.    Accrued Liabilities

Accrued liabilities consist of the following (in thousands):September 30, 2025December 31,2024Accrued payroll and related expenses$4,738 $3,564 Sales, general and administrative accrued expenses3,512 1,109 Research and development accrued expenses2,775 808 Operating lease liability, current portion493 567 Other accrued liabilities475 101 Total accrued liabilities$11,993 $6,149 

6.    Commitments and Contingencies

Operating LeasesCommencing on April 1, 2022, LENZ OpCo entered into a lease agreement for office space in Del Mar, California, which was subsequently amended to expand the office space leased and extend the term (the “Del Mar lease”). In April 2024, the Company entered into a lease agreement for office space in Solana Beach, California (the “Lomas lease”). As of September 30, 2025, the weighted average remaining lease term was 1.9 years, and the weighted average discount rate used to determine the right-of-use assets and corresponding operating lease liabilities was 7.7%. Cash paid for operating leases approximated rent expense for the periods presented.Maturities of the Company's operating lease liabilities as of September 30, 2025 are as follows (in thousands):2025$157 2026511 2027361 Total undiscounted lease payments 1,029 Less: present value adjustment(75)Operating lease liabilities$954 Rent expense for both the three months ended September 30, 2025 and 2024 was $0.1 million, and $0.4 million and $0.2 million for the nine months ended September 30, 2025 and 2024, respectively.

19

Legal Proceedings From time to time, the Company may be subject to legal proceedings and claims arising in the ordinary course of business. The Company is not currently a party to or aware of any proceedings that it believes will have, individually or in the aggregate, a material adverse effect on it's business, financial condition or results of operations.IndemnificationsIn the normal course of business, the Company enters into agreements that contain a variety of representations and provide for general indemnification. Its exposure under these agreements