Monitor Q2 2026 prescription data and sales force deployment completion — the 19% QoQ product revenue growth rate needs to accelerate to justify the $45M quarterly SG&A spend. Cash runway to post-launch positive cash flow is the key timeline; at current burn rate (~$34M/quarter), the $258M cash position provides ~7-8 quarters of runway.
Price Chart
Executive Summary
LENZ Therapeutics reported Q1 2026 results with $1.7M in VIZZ product sales (up 19% QoQ) and total revenue of $1.9M, but net loss widened to -$41.5M (-$1.32/share) from -$14.6M (-$0.53/share) a year ago as SG&A spending surged to $45M for the commercial launch. The stock will trade on prescription growth trajectory and cash burn rate rather than GAAP profitability, which remains deeply negative.
Key Financial Metrics
Key Facts
- Q1 2026 product sales of $1.7M, up 19% from Q4 2025's $1.6M
- Total revenue $1.9M including $0.2M license revenue
- Net loss widened to -$41.5M (-$1.32/share) vs -$14.6M (-$0.53/share) in Q1 2025
- SG&A expenses surged to $45.0M from $11.1M YoY due to commercial launch investment
- Cash burn: cash & securities fell to $258.4M from $292.3M at year-end 2025
- Cost of sales included $1.1M charge from manufacturing process transition
- Over 46,000 paid prescriptions filled from launch through Q1 2026
- Sales force expanding from 88 to 117 territories, fully deployed by end of Q2 2026
- DTC campaign launched with Sarah Jessica Parker; TV advertising pilot started April 2026
- MAA submitted to EMA (March 2026) and MHRA (April 2026) for European/UK approval
Financial Impact
Net loss of -$41.5M on $1.9M revenue; cash burn of ~$34M in Q1 2026
Risk Factors
- Cash burn rate accelerating faster than revenue growth — $34M quarterly burn on $1.7M product sales
- Manufacturing transition charge suggests potential supply chain or cost issues
- DTC campaign costs may not translate to proportional prescription growth
- No analyst consensus available for comparison — market will set its own expectations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001815776-26-000035 |
| Document: lenz-20260511.htm | 0001815776-26-000035 |
| Document: 0001815776-26-000035-index-headers.html | 0001815776-26-000035 |
| Document: 0001815776-26-000035-index.html | 0001815776-26-000035 |
| Document: 0001815776-26-000035.txt | 0001815776-26-000035 |
| 8-K Data (Synthetic) | 0001815776-26-000035 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $3.25 | awaiting T+1 | — | $3.14 (−3.23%) |
Oct 21, 2026 4d ago | SC 13G/A | $3.25 $3.16 | ▼ −2.77% | ▼ −2.25% | $3.14 (−3.23%) |
Aug 11, 2026 10w ago | Press Release | $5.04 $4.60 | ▼ −8.73% | ▼ −9.43% | $3.14 (−37.60%) |
Jul 2, 2026 16w ago | 8-K | $5.89 $5.60 | ▼ −4.92% | ▼ −5.80% | $3.14 (−46.60%) |
Jun 11, 2026 19w ago | Institutional Cluster | $6.50 $6.77 | ▲ +4.15% | ▲ +3.61% | $3.14 (−51.62%) |
Jun 7, 2026 20w ago | Press Release | $6.72 $6.79 | ▲ +1.04% | ▲ +1.34% | $3.14 (−53.20%) |
May 11, 2026 24w ago | 8-K | $7.91 $7.91 | · 0.00% | ▼ −0.54% | $3.14 (−60.24%) |
May 4, 2026 25w ago | Press Release | $9.28 $9.07 | ▼ −2.26% | ▼ −3.06% | $3.14 (−66.11%) |
Mar 24, 2026 30w ago | Press Release | $9.03 $9.07 | ▲ +0.44% | ▼ −0.12% | $3.14 (−65.17%) |
Feb 28, 2026 34w ago | Institutional Cluster | $13.68 $13.15 | ▼ −3.87% | ▼ −2.96% | $3.14 (−77.01%) |
US Market Status
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