Lenz Therapeutics gains as eye disease drugs succeed in late-stage trials
03/04/2024 15:25
(Updates)
** Drug developer Lenz Therapeutics' LENZ.O shares rise as
much as 16.4% to hit near 2 year high; last up 3.1% to $21.66
** Company says two formulations of its eye drop aceclidine,
LNZ100 and LNZ101, met main goals in late-stage studies for
treatment of presbyopia, the loss of near vision
** Company has selected LNZ100 as lead candidate and will
focus to submit a marketing application in mid-2024
** Company to focus on commercialization in H2 2025 upon FDA
decision
** LNZ100 showed statistically significant improvement in
patient's near-distance vision three hours post treatment
** LNZ101 showed similar results, including achieving main
and secondary goals, but did not show superiority to LNZ100
** Stock up ~74% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com))