SAN DIEGO, CA – November 6, 2024 – LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a pre-commercial stage biopharmaceutical company focused on the development and commercialization of the first and only aceclidine-based eye drop to improve near vision in people with presbyopia, today reported financial results and operational highlights for the third quarter ended September 30, 2024 and recent period.

Announced New Drug Application (NDA) acceptance by the U.S. Food and Drug Administration (FDA) for LNZ100 as a treatment for presbyopia. In October 2024, the Company announced that the FDA accepted the NDA for LNZ100 for the treatment of presbyopia, a condition that impacts an estimated 1.8 billion people globally and 128 million people in the United States. The Company previously announced the submission of its NDA in August 2024. The FDA has assigned a Prescription Drug User Fee Act (PDUFA) target action date of August 8, 2025 for LNZ100. The FDA noted that it is not planning to hold an advisory committee meeting to discuss this application. The NDA submission for the treatment of presbyopia is supported by positive data from the pivotal Phase 3 CLARITY study. Aceclidine is a new chemical entity in the United States and is not approved for the treatment of presbyopia in any country.

CORXEL and LENZ Therapeutics announced positive topline data from Phase 3 study in China for the treatment of presbyopia. In October 2024, CORXEL and the Company announced topline data from the Phase 3 safety and efficacy study in China. In the Phase 3 study, LNZ100 (1.75% Aceclidine) achieved the primary endpoint and key secondary endpoints, with statistically significant three-lines or greater improvement in Best Corrected Distance Visual Acuity (BCDVA) at near, without losing one-line or more in distance visual acuity. The primary endpoint was met with 74% of patients dosed with LNZ100 achieving three-lines or greater improvement at 3 hours. The difference in efficacy was statistically significant in the LNZ100 treatment group compared to the vehicle-controlled group (p<0.0001).

US Commercial launch preparations underway and on track for mid-2025 approval. Building upon the acceptance of the Company’s NDA application by the FDA with an August 8, 2025 target action date, LENZ continues to progress its launch readiness for an anticipated approval of LNZ100 for the

Market research of surveyed Eye Care Professionals (“ECPs”) confirmed enthusiasm for LNZ100 clinical data and likelihood to prescribe. The Company commissioned a survey of 426 Optometrists and Ophthalmologists, to further define the presbyopia market and evaluate the interest for LNZ100. Key results of the surveyed ECPs included:

•ECPs see an average of approximately 300-400 patients per month, of which 61% are presbyopic

•87% of ECPs’ eye exams include a retinal eye exam, confirming that the retinal exam is already a common practice in these evaluations

•78% of ECPs agree with the statement that LNZ100 was a “well tolerated and safe” option for the treatment of presbyopia, if approved

•78% of ECPs agree with the statement that LNZ100 was “attractive as a presbyopia treatment”, if approved

•83% of ECPs would be likely to sample, based on its clinical data profile

•82% of ECPs would be likely to prescribe, based on its clinical data profile

Completed $30 million private placement financing: In July 2024, LENZ executed a stock purchase agreement with Ridgeback Capital Investments L.P. (“Ridgeback Capital”) for a $30 million private investment in public equity (“PIPE”) common stock financing.

Cash Position: Cash, cash equivalents and marketable securities were $217.2 million as of September 30, 2024, which is anticipated to fund operations to post-launch positive operating cash flow.

Research and Development (R&D) Expenses: R&D expenses decreased to $6.5 million for the three months ended September 30, 2024, compared to $17.0 million during the same period in 2023. R&D expenses decreased to $23.9 million for the nine months ended September 30, 2024, compared to $40.0 million during the same period in 2023. The declines in our R&D expenses were primarily due to the conclusion of our positive Phase 3 CLARITY study in March 2024.

Selling, General and Administrative (SG&A) Expenses: SG&A expenses were $6.5 million for the three months ended September 30, 2024, compared to $2.9 million during the same period in 2023. SG&A expenses increased to $19.5 million for the nine months ended September 30, 2024, compared to $7.5 million during the same period in 2023. The increases in our SG&A expenses were primarily driven by increases in personnel-related expenses due to a growth in headcount, pre-commercial planning activities, and other legal and professional services associated with being a publicly traded company.

Net Loss: Net loss for the three months ended September 30, 2024, was $10.2 million, or $0.38 per share (basic and diluted), compared to a net loss of $18.9 million, or $9.62 per share (basic and diluted) during the same period in 2023. Net loss for the nine months ended September 2024, was $37.1 million, or $1.93 per share (basic and diluted), compared to a net loss of $46.3 million, or $23.66 per share (basic and diluted) during the same period in 2023. Net loss per share (basic and diluted) considers only the weighted-average common shares outstanding for the respective periods.

The Company will host a conference call and webcast today, Wednesday, November 6, 2024, at 8:00 a.m. ET. To participate in the conference call via telephone, dial (800) 715-9871 (Domestic) or (646) 307-1963 (International) and enter code 7959303. The live webcast from today’s conference call can be accessed here and on the LENZ Therapeutics website at www.LENZ-tx.com in the Investors & Media section. A replay of the webcast will be available on the Company’s website for 30 days following the event.