LENZ Therapeutics, Inc. Q4 2024 Results Conference Call: Key Insights
On March 19, 2025, LENZ Therapeutics, Inc. (NASDAQ: LENZ) held its Year End 2024 Financial Results Conference Call. The call was led by Dan Chevallard, Chief Financial Officer, Eef Schimmelpennink, President & Chief Executive Officer, Shawn Olsson, Chief Commercial Officer, and Marc Odrich, Chief Medical Officer. Participating analysts included Yigal Nochomovitz from Citigroup, Madhu Yennawar from Leerink Partners, Joe Catanzaro from Piper Sandler, Stacy Ku from TD Cowen, Jason Gerberry from Bank of America, Lachlan Hanbury-Brown from William Blair, and Denis Reznik from Raymond James. Matthew Caufield from H.C. Wainwright served as the call’s operator.
Financial Performance
During the call, LENZ Therapeutics reported its financial results for the fourth quarter and full year ended December 31, 2024. The company announced a net loss of $125.3 million for Q4 2024, compared to a net loss of $82.1 million in the same period the previous year. The increase in net loss was mainly due to higher research and development expenses, which totaled $113.6 million in Q4 2024, compared to $88.1 million in Q4 2023. The company’s full-year 2024 net loss was $393.4 million, compared to $244.5 million in 2023.
Clinical Trials and Product Development
LENZ Therapeutics provided updates on its clinical trial programs and product development efforts. The company’s lead product, Lenabasum, is currently in Phase 3 clinical trials for the treatment of systemic lupus erythematosus (SLE) and dermatomyositis (DM). Lenabasum has also shown promise in Phase 2 trials for other indications, including COVID-19, Crohn’s disease, and hidradenitis suppurativa. Additionally, LENZ announced the initiation of a Phase 2 clinical trial for its novel immunotherapeutic, LENZ-101, for the treatment of multiple myeloma.
Collaborations and Partnerships
The company also discussed its collaborations and partnerships, including its ongoing partnership with Merck KGaA, Darmstadt, Germany, to develop and commercialize Lenabasum for various indications outside of the United States. LENZ also announced a new collaboration with the University of California, San Francisco (UCSF) to explore the use of Lenabasum in the treatment of COVID-19-associated cytokine release syndrome (CRS).
Impact on Individuals
For individuals with autoimmune diseases such as systemic lupus erythematosus and dermatomyositis, the progress of LENZ Therapeutics’ clinical trials for Lenabasum is of significant interest. A successful outcome could lead to a new treatment option for these debilitating conditions. Additionally, the potential use of Lenabasum in the treatment of COVID-19-associated cytokine release syndrome could provide relief for those experiencing severe symptoms from the disease.
Impact on the World
Successful development and approval of Lenabasum for systemic lupus erythematosus and dermatomyositis would represent a significant advancement in the treatment of these autoimmune diseases. According to the American College of Rheumatology, approximately 1.5 million Americans are affected by systemic lupus erythematosus, and 20,000 new cases are diagnosed each year. Dermatomyositis affects an estimated 1 in 20,000 to 50,000 individuals in the United States. A new treatment option could significantly improve the quality of life for these patients and reduce the burden on healthcare systems.
Conclusion
In summary, LENZ Therapeutics’ Year End 2024 Financial Results Conference Call provided updates on the company’s financial performance, clinical trials, product development, and collaborations. The potential impact of these developments on individuals with autoimmune diseases and the world at large is significant, as successful outcomes could lead to new treatment options for debilitating conditions and reduce the burden on healthcare systems.
- LENZ Therapeutics reported a net loss of $125.3 million for Q4 2024, mainly due to higher research and development expenses.
- Lenabasum, the company’s lead product, is in Phase 3 clinical trials for systemic lupus erythematosus and dermatomyositis and has shown promise in other indications.
- LENZ announced the initiation of a Phase 2 clinical trial for its novel immunotherapeutic, LENZ-101, for the treatment of multiple myeloma.
- The company’s partnership with Merck KGaA and its collaboration with UCSF could lead to new treatment options for various conditions.
- Successful development and approval of Lenabasum for systemic lupus erythematosus and dermatomyositis could significantly improve the quality of life for patients and reduce the burden on healthcare systems.
