LENZ Therapeutics, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Lenz Therapeutics Second Quarter 2026 Financial Results Conference Call. At this time, all participants are nearly in only mode. Following prepared remarks from management, we will conduct a question and answer session and instructions will follow at that time. As a reminder, this call is being recorded. At this time, I would like to turn the call over to Dan Chevallard, Chief Financial Officer. Please go ahead.

Thank you. Good afternoon and thank you for joining us today. My name is Dan Chevallard, Chief Financial Officer of Lenz Therapeutics. We are joined today by Evert Schimmelpennink, our President and Chief Executive Officer, Shawn Olsson, our Chief Commercial Officer, and Dr. Marc Odrich, our Chief Medical Officer. Before we begin, I would like to remind you that this call will contain forward-looking statements regarding Lenz's future expectations, plans, prospects, corporate strategy, Regulatory and Commercial Plans and Expectations, Cash Runway Projections and Performance. Actual results may differ materially from those indicated by these follow-up statements as a result of various important factors and risks, including those discussed in our filings with the Security and Exchange Commission and which can also be found on our website. In addition, any forward-looking statements represent only our views as of the date of this webcast and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligations to update such statements. The company encourages you to consult the risk factors contained in our SEC filings for additional detail, including our second quarter 2026 Form 10-Q, which is being filed today. With that, I will now turn the call over to Abe.

Thank you, Dan, and good afternoon, everyone. We are now several quarters into the launch and have a clear view of how adoption is developing. Today, I want to share the progress we're seeing, what the latest data is telling us, and how those insights are shaping our priorities for the second half of the year. Q2 reflects a continued, though modest, growth. Encouragingly, in July, as we launched telehealth and expanded our existing Tide of Reading Glasses Campaign, and National TV, we saw a significant increase in new patient stats and over 45% growth in month-over-month total prescriptions. We recognize that one month does not establish a trend, but these early results are consistent with the direction we hope to see. We have consistently said that the second half of the year will provide our first opportunity to assess and discuss patient persistence. Now several quarters into launch, we have sufficient data to begin doing that. And what we're seeing is encouraging. Since launch, more than 60% of e-pharmacy patients who have purchased PIS have purchased more than one monthly pack, either as part of their initial order or through a subsequent purchase. It's important to note that the e-pharmacy is a dominant sales channel and the channel where we have access to detailed patient-level data. and looking at the more mature quarterly patient cohorts within that 60% provides a promising view of repeat purchasing and refill behavior. Among patients who first purchased this in Q4 2025 and Q1 2026, our first two quarters of the launch, purchasing behavior is tracking towards an average analyzed purchase rate of five monthly packs. and our Q2 cohort is showing a very similar pattern, although it's not yet mature enough for the same analysis. These are important proof points. Persistence is essential to building a durable patient base, and the behavior we're seeing reinforces our confidence that patients who experience the benefit of this are choosing to continue using it. It also reinforces the commercial objective in front of us. We need to continue bringing more new patients into the category and making it easier for them to move from awareness to evaluation to treatment and ultimately to continued use. That focus has shaped our work since the last call. We have concentrated on broadening consumer awareness, making this easier to introduce during routine patient conversations, ensuring patients are well-educated, and simplifying the path from initial interest to treatment. Our most recent initiatives were designed around those priorities. Telehealth gives consumers a convenient path to evaluation by an independent, licensed eye care professional and, if appropriate, a prescription with home delivery. Expanding our existing campaign to national TV allows us to reach a broader group of consumers with a clear message about an alternative to reading glasses. Together, these initiatives create a more direct connection between consumer interests, clinical evaluation, and access to treatments. While the July data are undoubtedly encouraging, our focus now is on translating these signals into sustained growth. Our investments to date have helped establish this, the broad awareness among ECPs, Expand consumer demand generation and put more convenient access pathways in place. We'll use Q3 to further understand which activities are producing the greatest impact and where we can make the patient journey even simpler. And as we assess the performance of our commercial initiatives, use those learnings to inform both the mix and the level of investment for the next phase of the launch. Going forward, We will be even more disciplined in how we allocate capital, concentrating resources on the activities we believe have the greatest potential to drive durable patient growth and aligning our overall commercial investment with the skill and needs of the business. In parallel, we continue to make progress, expanding this globally. Our partnerships now span more than 20 countries across Great China, Southeast Asia, Canada, the Middle East, and Oceania. During the quarter, we entered into our fifth international commercial partnership, covering Australia and New Zealand. We also have nine regulatory submissions on the review, with additional submissions expected by year-end. Together, these efforts are establishing the foundation for this as a global brand. In conclusion, as we enter the second half of the year, we have a clear picture of how this opportunity can build. Patient persistence reflected in both multi-pack purchasing and the refill patterns emerging on more mature cohorts provides meaningful evidence that patients who experience this see lasting value and choose to continue using it. July provided an encouraging early indication that our actions to broaden consumer awareness and simplify access are beginning to translate into stronger new patient activity. We clearly understand our path forward. Build on these signals, stay focused on execution, and invest with discipline behind the activities that drive durable growth. Remain confident in the value this delivers and in the significant unmet need it addresses. Our job now is to translate that value into sustained patient growth with urgency and discipline. With that, I'll hand it over to Shawn, who will provide more detail on our commercial execution.