Jun. 10 at 12:35 PM
Citi reiterated
$LENZ Buy-
$45, opened a 90- day +VE catalyst watch and said, "We expect LNZ100 (aceclidine) to receive FDA approval on or before the upcoming PDUFA date of August 8, 2025."
$ABBV
Cit added, "We believe approval is highly likely and should provide the next value inflection point.
In our most recent conversation with
$LENZ's CEO, management indicated the company successfully completed the Late Cycle FDA meeting with no major nor minor review issues flagged by the agency. This isn't surprising given aceclidine was previously marketed in Europe as a glaucoma medication, with an established safety profile and well-understood MoA.
Overall, we continue to view
$LENZ as a very attractive opportunity to own a highly derisked, near-commercial story that should benefit from a seasoned mgmt. team and notably a VP of marketing that helped successfully launch RedBull and other lifestyle brands."
