New FDA-Approved Eye Drop Sparks Fresh Competition For LENZ Therapeutics' Drug

On Wednesday, the U.S. Food and Drug Administration (FDA) approved Tenpoint Therapeutics Ltd.’s Yuvezzi (carbachol and brimonidine tartrate ophthalmic solution) 2.75%/0.1%, previously known as Brimochol PF, the first and only dual-agent eye drop for presbyopia in adults. Presbyopia, the gradual loss of near vision that typically begins around age 45, affects about two billion people globally and 128 million people in the U.S. Yuvezzi is expected to be broadly commercially available in the U.S. in the second quarter of 2026 After the update, LENZ Therapeutics, Inc. (NASDAQ:LENZ) stock fell around 9%. In August 2025, the FDA approved LENZ Therapeutics’ VIZZ (aceclidine ophthalmic solution, previously known as LNZ100) 1.44%, the first and only FDA-approved aceclidine-based eye drop for presbyopia in adults. Analyst Take William Blair on Thursday wrote, LENZ stock fall ‘is an overreaction given this approval was expected, and we believe VIZZ still has a best-in-class profile.’ While the approval introduces another potential competitor to VIZZ, analyst Lachlan Hanbury-Brown wrote that VIZZ has a stronger profile, having demonstrated greater efficacy with a faster onset and longer durability in a broader population, which is reflected in the respective labels. The labels also highlight the mechanistic differences of the products—namely VIZZ's pupil selectivity—and introduce new risks for Yuvezzi that are not seen in the VIZZ label (notably the risk of potentiating syndromes associated with vascular insufficiency, and potential drug-drug interactions). Analyst Hanbury-Brown said that it's unclear whether eye care professionals will view the label differences as meaningful or whether they will influence real-world uptake. However, William Blair sees them as underscoring VIZZ's differentiated profile, giving LENZ's commercial team additional talking points beyond efficacy if needed. In the meantime, LENZ's focus remains on executing on the launch of VIZZ: William Blair notes that the company made good progress driving awareness and prescribing among eye care professionals in the fourth quarter, setting up the recent launch of its direct-to-consumer (DTC) campaign, which should drive demand over the coming quarters. “We continue to believe VIZZ holds blockbuster potential and rate shares Outperform,” analyst Hanbury-Brown wrote in an investor note on Thursday. LENZ Price Action: LENZ Therapeutics shares were down 8.89% at $16.20 at the time of publication on Friday. The stock is near its 52-week low of $14.43, according to Benzinga Pro data. Image via Shutterstock