LENZ cuts workforce as it shifts toward consumer marketing

LENZ Therapeutics announced a strategic reorganization alongside its Q3 2026 results, planning to cut about 75% of its workforce and retain roughly 40 employees.

The company says the changes will prioritize consumer marketing for VIZZ, its presbyopia eye-drop treatment, while reducing projected 2027 operating expenses by more than 50% to about $70 million–$75 million. It expects about $5 million in one-time restructuring costs, with most changes completed by year-end.

CEO Eef Schimmelpennink is set to leave the role on December 1, 2026. CFO Dan Chevallard is slated to become interim CEO.

VIZZ sales were $2.6 million in Q3, up about 50% from Q2, on more than 38,000 paid prescriptions. But LENZ reported a quarterly net loss of about $31 million, or $0.99 per share, and total revenue of about $3.4 million.