Company: LENZ
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001815776-25-000056
Chunk: 364

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 364
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 to a vote of the Company’s stockholders. Other than the special dividend paid by Graphite immediately prior to the close of the Merger, no dividends have been declared or paid by the Company through June 30, 2025, and any such dividends are not cumulative.Common stock reserved for future issuance consist of the following:June 30, 2025Common stock options granted and outstanding3,888,145Shares available for issuance under incentive plans1,952,105Shares available for issuance under the ESPP517,217Warrants to purchase common stock164,252Restricted stock units granted and outstanding29,740Total6,551,459Warrants LENZ OpCo issued warrants to acquire Class A common stock and Series A Convertible Preferred stock.The warrants to purchase 470,000 shares of Class A common stock had an exercise price of $0.21 per share and were issued in December 2020 with an expiration date in February 2024. In February 2024, prior to expiration, the holder exercised 470,000 warrants, resulting in $0.1 million of proceeds. These shares were 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