LENZ Therapeutics' Late-stage Study Of LNZ100 In Presbyopia Meets Primary Goal; Stock Rises

(RTTNews) - LENZ Therapeutics, Inc. (LENZ) Wednesday announced positive results from the Phase 3 CLARITY study of its two drug candidates LNZ100 and LNZ101, for the treatment of presbyopia, the loss of eye's ability to see nearby objects. The company's shares were up more than 20 percent in pre-market at $26.10.

In the Phase 3 CLARITY 1 and 2 trials, the primary endpoint was met after 71 percent of participants dosed with LNZ100 achieved three-lines or greater improvement at 3 hours.

The company has chosen LNZ100 as its lead drug candidate. While LNZ101 also showed similar results, it was not superior to LNZ100.

LENZ Therapeutics plans to submit a New Drug Application for LNZ100 in mid-2024.

Shares of LENZ Therapeutics had closed at $21.01 on Tuesday. The stock has been trading in the range of $2.01 - $24.05 in the last 52 weeks.