Key Takeaways

  • Lenz Therapeutics announced a major strategic reorganization and CEO transition that will shed 75% of its workforce 

  • The reorganization is designed to reduce operating expenses and prioritize consumer marketing for its presbyopia treatment

  • Vizz generated $2.6 million in third-quarter sales, with paid prescriptions increasing 51% sequentially

Lenz Therapeutics announced a major strategic reorganization and CEO transition designed to reduce operating expenses and prioritize consumer marketing for its presbyopia treatment. The reorganization, announced during the company's third-quarter earnings, comes as the company reported a 50% increase in third-quarter 2026 sales of its presbyopia drop Vizz (aceclidine ophthalmic solution 1.44%).

According to a securities filing with the SEC, Lenz will trim 75% of its workforce, leaving just a 40-person team behind. 

“We are focusing our commercial organization and investment on initiatives we believe will most effectively increase consumer awareness, access and adoption, while improving capital efficiency and supporting Vizz's continued growth. I am encouraged by the growing third-quarter consumer demand that is continuing into the fourth quarter, and excited about the opportunities ahead for Lenz," said Lenz President and CEO Eef Schimmelpennink.

Lenz said the restructuring is expected to reduce projected 2027 annualized operating expenses by more than 50%, targeting $70 million to $75 million, excluding stock-based compensation. The company anticipates approximately $5 million in one-time restructuring charges, with substantially all activities completed during the fourth quarter of 2026.

Mr. Schimmelpennink said he will step down December 1, 2026, with current CFO Dan Chevallard assuming the role of interim president and CEO. Schimmelpennink will remain a strategic advisor into 2027.

“After nearly six years leading Lenz and more than 25 years in the biotechnology industry, I have decided to transition from my role as CEO effective December 1, 2026, to devote more time to other passions. I am very proud of the team we have built, the culture we have created and the successes we have achieved together," he said. 

Lenz received FDA approval for Vizz in July 2025 as the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia in adults. Following the approval, Mr. Schimmelpennink spoke with EyewireTV about the first-of-its-kind drop. 

The company reported $2.6 million in product sales for the quarter ended September 30, 2026, based on more than 38,000 paid prescriptions, representing sequential increases of approximately 50% and 51%, respectively. Prescription growth occurred across ePharmacy and retail channels, supported by the July launch of a telehealth prescribing option that connects patients with independent licensed eye care providers and offers home delivery. Telehealth accounted for more than half of the incremental prescriptions during the quarter.

Lenz also reported additional regulatory submissions for Vizz in Saudi Arabia, Malaysia, and Vietnam during the third quarter, bringing its total number of regulatory filings outside the United States to 11.