Good afternoon, everyone. Welcome to the LENZ Therapeutics Commercial Day. My name is Eef Schimmelpennink, President and CEO. Thanks, all of you, for being with us here today. We know it's hectic out there in the markets, so I really appreciate every one of you making the time to be here. A special welcome to the 60+ or so analysts and investors that are with us here in the room today at NASDAQ in New York, as well as everyone dialing in to the webcast. We're really excited to share with you what we've been building at LENZ, and especially what's coming next. I hope the video brought to life a little bit of what it's like to be a presbyope. Yes, I'm one of them. Most importantly, what we're poised to do to change that. Because we believe that even though presbyopia will affect almost everyone, it's not something that has to be a fact of life. That is really what today is going to be about. It's about sharing our vision for our future with you. You're going to hear from the team that's going to launch and commercialize our product with the same dedication and focus and commitment that we've brought to the development of our products. Importantly, along the way, you'll hear from doctors and patients around their experience with LNZ100, what they think about the product, what they're excited for. I truly believe that we've built something really special with LENZ. I'm really looking forward to sharing with you what we're more confident than ever about what's coming next. By now, all of you will know that presbyopia is the inevitable losing of your near vision. It's the hardening of your lens that makes that you can no longer accommodate and look at something up close. It looks like the stuff on your left on the screen here. What used to be effortless no longer is. Sending a quick text or looking at the menu or looking at your smartwatch like that. If that's you, no worries, you're not alone. Because it happens to pretty much everyone. There's 128 million presbyopes in the U.S. It's by far the largest market in ophthalmology. It's larger than any other ophthalmology indication combined, 4x the next largest market, which is dry eye. Frankly, the current solutions, they're just imperfect. Whether it's your $2 reading glasses or I've seen some $800 ones out here, they just don't work well. Whether it's your bifocal lenses or your progressive eyeglasses, none of them give you true seamless vision near to distance. They're just not good enough. That is where LNZ100 comes in. This is what it's going to be about. This is the real win. This is not near vision in a clinical setting, but in real life. This is about getting up in the morning, putting a drop in, and getting your day going. You're on your way to work. You stop at your coffee shop. You grab your coffee. You're actually able to hit a pretty generous 22% tip without having to put your reading glasses on. That's generous coming from a guy from the Netherlands. We have a different level here. That is what this is all about. This is a drop in and move on solution that we're building here. To be able to generate that, to be able to provide that to customers, it's really important to know what they want, to know what the target product profile is. Actually, that's really, really clear. What a consumer wants is a once-a-day eye drop that works quickly, that works for the full workday, and it works for pretty much everyone. That's that all eyes, all day mantra that we established three, four years ago when we really took on the development of what's now LNZ100. If you look real briefly at our phase III results, we've nailed that profile and then some. 71% of patients in our trial, on their first day, first drop, after 30 minutes, had at least three lines of near vision improvement. Can you imagine what that was like? You being able to read your phone again after 30 minutes of putting a drop in. That's that wow effect that you'll hear us talk about. That is going to be really important as we start to launch the product. At hour 10, which was the last time point that we've mentioned in the study, still 40% of patients had at least three lines or more of near vision improvement. That is a very comfortable product. Most side effects were mild and transient. Importantly, zero serious AEs. Really a profile that people want. No wonder consumers are excited. You'll hear more about that later on. We believe that what you just saw in that video is going to be the morning routine of millions of people. You wake up, do your thing, brush your teeth, and put your drops in. Off you go. A set it and forget it solution. Really freedom, if you want it, from your reading glasses. Freedom from squinting. Basically, freedom to just see like you're used to again. We know that people are waiting for that. When we did a big survey, 1,400 presbyopes, 60% of them said that they would seriously consider using an eye drop to treat their presbyopia. When we asked the people that were in our study, all the people that were on active, did they want to continue to use the product after the study? 75% of them said, absolutely. Definitely want to continue to use the product. We asked them how often. Five to seven days a week. Basically, every day, that was what they were saying. That's great. Great numbers. It's just that. I mean, these are numbers. What's really important is how do consumers actually experience a product? Let me introduce you to Dina. Dina was in our phase III trial, one of the patients of many that was on LNZ100. We asked her to share with you what her real experience was when she was using a drop. Hi. My name is Dina. I live in Queen Creek, Arizona. I am a hairstylist. The way the drops surprised me, first of all, was that they actually worked. I was a little skeptical of that. I mean, it does sound a little funny to think that you could put an eye drop in and you can all of a sudden see better. I think I was just shocked at the fact that it actually did work. That I actually could see better than I could have even imagined. I was amazed. There is not even a word for it. It was like I wanted to sing Hallelujah. I could not believe it. I felt like 20 years younger. It was like, this is amazing that this actually worked. These eye drops have literally changed my life in every aspect, in not just my family life, but my work life. Everything, everywhere. They have made all the difference in my life. It is worth every penny. I would recommend them to anyone that wants to be able to see again. I love listening to Dina's story. I get so honest and so real. She starts out like many of us, where you go, she was skeptical. Like, how can an eye drop do this? Like, really an eye drop that's helping me see again? She put the drop in. She was surprised. That's what she said. I was surprised that it actually works. Because it does work. We've seen that in the data. It goes beyond that. She says, I was actually amazed. This works better than you could ever imagine. Like, hearing that from consumers, from patients in our study, hearing that makes us know that we're onto something. This works. Dina was saying, it made me feel 20 years younger. That's an emotional connection. That's what we're after. That's the seeing better is feeling better component that will really drive in our launch. Hearing Dina say that there was a real life changer, it changed every aspect of my life. That's great. That's a personal story. That's an NF1. We know, we believe that we can replicate that for hundreds of people. With that, really build that blockbuster market that we know is out there. You've heard us talk about how big we think that market can be. We're actually being, I think, pretty conservative about it. A $3 billion U.S. market based on a very modest 6% penetration. It's at 8 million users ultimately. Even though we know that this product works for pretty much everyone, pretty much all of the 128 million presbyopes out there. Rather than saying and following what people say, that they're going to use this five to seven days a week, we're actually haircutting that by half. We're saying, let's assume it's only three days a week. That together gets you to the $3 billion U.S. market. There's a great opportunity ex-U.S. that we haven't even spoken about yet. We will be chasing that. Clearly, a blockbuster opportunity. That's what we're going to go after. Not just better vision, but better living. That's really what we can do with this drop. I've shown you and spoken about the problem. Shown you the solution. Taking you through the fact that we truly think that this can be a blockbuster market. Frankly, that's no longer where most of your questions are. The questions are no longer around, is there really a market there? That was two years ago. The question is no longer, well, is your product actually working? That was a year ago. We've ticked those boxes. I think we've convinced most people that the market is there and the product works. The key question that's on all of our minds is, how are you going to sell a consumer type product in a prescription type market? That's what we're really going to unpack with you here today. Next, you're going to be hearing from Dr. Marc Bloomenstein, who's a lead KOL. He's a lead investigator in our studies, but frankly, also in many of the competitor products. He's going to talk to you about his experience with the product. He's also spoken to many of his peers. You'll hear them answering the key questions that are on our minds. What do they think about the product? How do they think it's going to fit into their practice? And what can the adoption be? From there, we're really going into the commercial strategy and doing a deep dive on that. There are three key pillars. How we're going to get doctors to recommend us, patients to request us by name, and then making sure that they have a seamless journey to their use. We will take you through what we're doing as we're actually nearing launch. We're in four months of our PDUFA date. How are we getting ready to launch? We will talk to you about the foundation that we have built within LENZ that really sets us up for what we feel is going to be a very successful launch. We will close out with something that I'm sure we're all looking forward to. We'll have an interview with Tiffani Thiessen, which I'm sure you know. Actress, author, and like me, a presbyope, but with a much better and much more funny story around that. With that, I'd like to welcome Dr. Marc Bloomenstein to the stage here. Marc, all yours. Hi, everybody. Welcome. I am the face of presbyopia. But also, I will tell you that I am the face of an optometrist. I graduated optometry school in, gosh, 1990, 1994. I'm a little bit older. So I've been practicing for 31 years. My experience brought me into an ophthalmology practice where we did cataract and refractive surgery. But more importantly, we were innovators. Now, 30 years ago, the technology and the opportunities that we have were not available. I was fortunate enough to be involved in early clinical trials for corneal refractive procedures, which meant patients 30 years ago looking to get out of their glasses. I see a lot of young people here. You don't realize that there were times when we actually would slash the cornea. We called it RK to get people to see. The beautiful thing about that procedure was they got about six to seven months of good vision. You know what? They loved it. These people loved it. It's like, after that, it just didn't work as well. We're always looking for better solutions. Fortunately for me, I've been involved in about 25 different clinical trials. I've been the lead investigator, the principal investigator in about eight, which have to do with pharmaceuticals. As Ave said, I've been involved in clinical trials around presbyopia. The interesting thing about presbyopia, it's kind of Ave had said that you possibly are going to get it. No, the reality is that you absolutely are going to get it. This is kind of the Holy Grail. How can you achieve an opportunity to help patients to be able to function without having to think about glasses or contacts? For me, in practice, I always kind of thought of myself as the giver. You're coming in. You want to be able to function. You want to be able to see. As optometrists, we're the primary care physicians for the eyes. We have to look for opportunities to help our patients. When we start thinking about opportunities, we're looking for a better solution. Some of you don't remember, but there was a time when it was just bifocals. Can you imagine looking at your tablet or your iPhone with bifocals? You can't. Driving in your cars where you have the dashboards, you can't. We moved on to progressives. At that time, progressive lenses, you would get wavy distance vision. The stairs were eight feet taller. People got nauseous. You know what? They persevered. Because wearing bifocals is like the harbinger of old age. It's like you're looking at me right now thinking, he practiced 30 years ago? Dude looks so young. If these were bifocals, you'd be like, oh, oh hell yeah, he's old. No. Progressive lenses gave our patients the opportunity to say, no, I don't need reading glasses. That desire has been there. For us as optometrists, when a patient comes in to see us, we have to meet their quality of life. We're looking to help them improve their quality of life, whether it be through glasses, contacts, or newer opportunities. Let's listen to Darryl. See what he has to say. Hello. My name is Dr. Darryl Glover. And I've been in the eye care industry for about 25 years. I've held every hat, every position you can think of, from an eyewear consultant to a technician to now an optometrist. As a practicing optometrist, my experience with my optics have not been the best. The problems that I've run into is that my patients have to dose themselves too many times. My patients really complain about what their distance looks like. It just hasn't been the best experience. They'd rather go back to their glasses or contact lenses. When I review the results, what really stood out to me, what really touched my heart, and I knew that was going to be a game changer, was the vision. For a patient to be able to go 10 hours, 10 hours, got it, 10 hours, and be able to improve two lines, and about 69% of the participants were able to make that happen, that to me was the secret sauce. That is what I need for my patients to be able to take it to the next level. I like happy patients. When you have that type of data, that is a game changer. A lot of our patients out there, a lot of my patients, I should say, want to live their life on autopilot. I now have a product, a drug that can make that happen. Darryl is 100% right. When I'm talking to patients and I'm giving them an opportunity to be able to function, to be able to kind of think about not having to think about it, contacts are great. Because you drop them in, you don't think about it. But contact lenses themselves become dry, irritated. Patients can't wear them as often. We always prescribe glasses because of what happens if. To me, when we start thinking about practice building opportunities, if you're not recommending to patients other opportunities, then why are you practicing? I mean, you come to see me because you want to hear what's new, what's different, what's unique. I also want to provide you an opportunity to do something that you don't have to think about. Now, when I think about therapeutics to treat presbyopia, the challenge that Darryl had said is that it's kind of like having a battery on your iPhone that runs out after about three or four hours. Then you're scurrying around here, especially in New York City, trying to find a plug in. Maybe you can find a clean bathroom while you're at it. None of those two things are going to happen. They're unicorns, people. You want something that's going to last the whole day. To me, when I think of opportunities, I think of the fact that we have the and, not the or. It's and a treatment. You want to go clubbing, put a drop in. You want to go to work all day, put a drop in. You want it to be sustainable. When you think about other opportunities for primary care physicians, I think Dr. Pamela Lo has some good thoughts on that as well. I'm Dr. Pamela Lo. I've been practicing for 36 years. For the past 32 years, I've had my own private practice on the northwest side of Chicago where we see full scope primary care patients. I'm excited about how this new treatment will integrate into our practice. There is not just one thing that is going to satisfy the patient for their vision throughout the whole day. This one thing can be very impactful because it could last up to 10 hours for our patients and give them that visual freedom when they want it. Technologies like this certainly benefit our practice. We always have the philosophy, what's good for the patient is good for the practice and the business bottom line. They tell someone, and they tell someone, and then it just grows. We also love when our industry partners kind of do the direct-to-patient marketing as well. Because it forces us as practitioners to also listen to the patient. If they hear that there's something new and efficacious out there, I want to be on top of it and be able to say, yeah, we've had success with that with other patients. Let's give it a shot for you. The other challenge is that only about, I think, we showed 128 million up there. About a third of those, if not a little bit more, strictly go to over-the-counter, the cheaters, the magnifiers, make things bigger. How many of you guys have been sitting by somebody in a plane and they have the font on their iPhone or on their Android as large as the phone, and you're trying to send a secret message that you don't want people to see, but it is so large, everybody can read it? You are at a restaurant and somebody takes their camera and basically uses the light on there to illuminate. It is just like a beacon for, hey, I'm a boomer. I'm a presbyope. I've got my phone out. To me, I would do anything not to do that. The interesting thing when you see that light is because there's a near triad that occurs when we have presbyopia or age-related loss of close vision. The three things that happen is that your eyes turn in, they converge, your lens moves forward. When your lens moves forward, it makes you more nearsighted. People who are trying to see in the distance, if their lens is moving forward, it blurs their distance vision, but they can still magnify and see better. The third thing that happens is that your pupils get smaller. The interesting thing about how small they get has been, I guess there's been a question out there. For me, it's not a question. The smaller the pupil size, the greater the depth of focus. You can look at the data, and the science is out there that the smaller that pupil gets, a sub 2 mm pupil is going to improve that depth of focus. It is going to make better close vision. For somebody who is involved in the clinical trials for LNZ100, I can assure you that the one thing that it also does is it improves the distance vision. Because by improving depth of focus, you get both distance improvement as well as the close vision. I am actually kind of proud here because Dina actually was one of my subjects. Everything she said on there was what I got to hear her say for the two 10-hour visits that she was in there. Oh my god, oh my god, this is amazing. I cannot believe how amazing this is. That sub 2 millimeter pupil to me is optimal to give our patients the absolute best opportunity to be able to see distance as well as, more importantly, their close vision. Milton was another investigator in multiple clinical trials like I've been in. He has his own take on this as well. My name is Milton Hom. I'm an optometrist, and I practice in Southern California. In terms of pupil diameter size, I was part of the other studies that have been done on pupil diameter. They say the sweet spot of pupil diameter based on the past clinical studies is about 2.5 mm-3 mm. The thinking was that you have to hit that sweet spot in order for you to get the best type of presbyopia vision. We even wrote a paper on it based on that clinical study. My name is actually on that paper. Since being on this LENZ aceclidine study, the difference is that we were actually seeing pupil sizes that were actually smaller than the 2.5 mm-3 mm. In fact, they were below 2 mm. The drop seems to be much more effective than, let's say, the other pilocarpines, which actually have a larger pupil size. Since being on this clinical trial for aceclidine, which is LENZ's drop, I was shocked. I was really surprised that the smaller pupil was actually more efficient. The paper that I wrote, or paper I was part of, was actually wrong. Now, I know Milton very well. For him to admit that he was wrong, that took a lot. That took a lot. I think you guys all know people just like that. The question now boils down to, are people excited about treating presbyopia by using a therapeutic? If you go back to the very first slide I showed you, there were about 6,000 prescriptions written a week when we first got the first taste of the possibilities of treating presbyopia therapeutically. We were excited. What it lacked was the fact that it did not last very long. What it lacked is it had a lot of side effects. More importantly, it affected distance vision. The desire to give our patients the ability to function without glasses or contacts in a society where we do so much with our vision now that it makes it almost impossible to have to kind of think about how we're going to manage those, the desire is there. In a recent study, they found that 82% of doctors that were polled showing the attributes of aceclidine said that they would prescribe it. Me, after seeing my subjects that were in this clinical study, I will tell you that is 100% of the time when a presbyope comes into my practice, I'm going to ask them, would you be interested in hearing about a drop that you can dose once a day? More importantly, it's going to last you the whole day to be able to function. You know what the answer to the vast majority of my patients is? A resounding yes. Natasha, who's been in more clinical trials than I can even think about, has even a different perspective as to what she thinks that our patients, your colleagues, maybe one or two of you that are sitting out there, this is a very young audience, will feel. I'm looking right at you, buddy. Let's see what Natasha thinks. My name is Natasha Heinven. I practice in an ophthalmology practice just north of Pittsburgh, Pennsylvania. It's a full scope general ophthalmology practice, but we have a full clinical research division. I also, having worked in all of these trials, have over 100 trials over the last eight years. I can literally count on one hand the number of medications that I think actually works. There's been a lot more than that that have come to market that have been OK. There's only a few that I get excited about because I actually can see them working. I can see a real-world application. This is definitely one of them. We've done 13 presbyopia trials. I have patients that have done all 13 of them. They are experienced. They know what to expect. They know what's supposed to happen. They will be very forthcoming in their feelings because we've known them for years, many of them. These patients loved this drop. The patients who received the aceclidine were extremely happy. They made jokes about, I lost it. I can't give it back to you at the end of the trial. What the patients experience and the real-world applications is, I believe, more important. They definitely were happy with what they had received. Having this option in our arsenal as optometrists is very, very important. I 100% concur with everything Natasha said. Involved with four of the clinical trials for the presbyopia drops. This is the only trial where you knew the minute they were dosed, at that first 30-minute Marc, we could see something happening. At that one-hour Marc, they knew as well. The sad part is that if you were on the vehicle and you were sitting out there with other subjects and they were throwing their glasses away, the people on the vehicle were sad. They were sad. At the end of the study, they're like, can we get some of that? Can you hook a brother up? I'm like, no, we can't. You have to wait until it becomes approved. I am going to hand off to Sean. I will be around later if anybody wants to chat with me about my clinical experience with an absolutely ridiculously phenomenal opportunity for patients. Thank you. Great. Thank you, Dr. Bloomenstein. I'm Sean Olsson. I'm the Chief Commercial Officer at LENZ Therapeutics. Today, I'm going to take you through the commercial strategy. To be honest, just seeing what all the doctors shared with you as well as the phase III participants, I'm really excited for this product. What we have as a company is a very clear strategy for commercialization. We're going to dive into each one of the components of this strategy today. First, I'll take you through doctors who recommend us. When we think about this product, we can look at the first product launch in this market. What we see is roughly 15,000 eye care professionals represented over 85% of all those scripts. Our goal is to educate those 15,000 eye care professionals on not only the product that is potentially best in class, but to integrate it into their practice and offer it to their patients. After that, we'll go through consumers requesting us by name. For that one, really, our goal is to make sure that we can show you how we're going to create an emotional connection to drive a DTC campaign that will lead to consumers requesting this product by name. I'm really excited that our VP of marketing, David Choromanski, is going to take you through that section, show you how he's built brands in the past, and how he'll build this brand as well. Lastly, we'll go through the seamless journey to use. This is a product when people hear about it, we want to take them from awareness to trial to usage as quick as possible and make it extremely seamless. The great thing is this is a cash-pay product. It allows a lot of opportunities to be extremely creative from this aspect. I look forward to going to that side as well. In terms of preparing for doctors to recommend us, this is really a multi-pronged strategy. It is a strategy over time as well. The three components we're going to dig into today is first, the unbranded campaign. Then we're going to move into our medical team. Those MSLs are highly active, and they're getting a lot of questions already. Lastly, we're going to give you an update on where we are with our field and all the materials and strategy to support that field. Jumping into the unbranded campaign. Here, we took a really unique strategy for unbranded campaigns. A lot of times with unbranded campaigns, and we saw this recently with Demodex Bblepharitis, what you had to do is make people aware of the problem. There's mites on your eyes. By the way, there's a good reason to eradicate those mites. Here in presbyopia, it's a lot different. As you heard from Dr. Bloomenstein, these optometrists, these ophthalmologists, they deal with presbyopia every day. There's not a strategy to train them what is presbyopia. What we need to make sure we train them on is have them take another look at presbyopia eye drops after that first launch and be selective about their choices moving forward. Our goal here was to actually educate them on what to look for in an ideal presbyopia solution. Train them. You really need to be focused on an eye drop that's going to get your pupil down below 2 mm because that's what's going to drive depth of focus. Help them understand that you want a miotic that's going to be pupil selective. Hit the muscle you want. Avoid the muscle you want. Hit the pupil. Avoid that ciliary muscle. Lastly, what we saw in the first launch was there wasn't a lot of direction on who are your early adopters. Who do I go for first? This campaign also focused on sharing our research that we did. We did an extremely large 1,400-person study to say, who are the earliest adopters? We found three key groups that stood out. The first group were those that are in contacts today, over 45. They enjoy glasses-free vision, and they want to stay glasses-free. The second group are people that have had refractive surgery in the past. They've invested in glasses-free vision, and now they're being forced to carry around the readers. Lastly, we found an extremely high correlation to those that have been to a med spa in the past 12 months. We called our MediSpa group. If you have been to a med spa, if you've gotten Botox, if you've gone and done plastic surgery, you over-index on interest. Our goal was to really educate this community. Let's take a look at how we approach that a little bit differently. Presbyopia. A funny word to describe not being able to read what's close to you. What's not funny is that over 128 million Americans live with it. Eye drops for presbyopia hit the market but quickly dropped the ball. Doctors were clearly disappointed. Just because you're a skeptic doesn't mean you can't become a believer. New science had doctors excited, intrigued, motivated, enthusiastic, and ready. How could we influence them to turn their readiness into action? By turning them into influencers themselves. We started with the cutting-edge science behind future presbyopia solutions, which had doctors primed to learn more. At our first ever public presence, doctors came out in droves to learn about a modern approach to presbyopia. We did not stop there. We provided doctors with a modern take on an old tool, the viewfinder. Their nostalgia quickly turned to awe when we revealed our in-booth pop-up photo studio. Dozens of doctors lined up out the door to become influencers themselves, blowing away our expectations. They flocked to social media to share their enthusiasm with the rest of the eye care world. We turned a community of former naysayers into champions. Champions who can change the lives of millions who want to see better with something better. We're really proud of what that's already accomplished and what it's going to continue to build on and accomplish as we work towards our PDUFA date. With this strategy, we really rewrote how you approach actually going after an unbranded campaign. This was not LENZ-led. This grew legs of its own and became ECP-led. Just to give an example of that, this morning, some of these doctors were featured on the large NASDAQ sign outside of this building today. As we started shooting it off to those doctors, it was minutes. All of a sudden, they were popping up online. We were on ODs on Facebooks within minutes of sending it off to Alan Glazier. It's really working, and it's getting that voice out there. We have over 50 KOLs that went out there and shared their voice. We're releasing those almost every week. That's been going on for a year straight. It's going to keep continuing on up until launch. When we think of the advertising behind that, we already have over 2 million views across all those ads. I can't tell you how many times I'm at the booth at conventions, and people come up, and they're like, I can't get away from your ads. I keep seeing your ads. It's working. It's showing people what to look for in the ideal solution. Not only are they noticing it, they're internalizing it. They're coming and learning more. Over 1,200 people then going and digging into the site and looking at the additional information. I think the other thing that's great about this campaign that I want you to notice is we didn't cut corners on this campaign. High-end visuals, high-end look and feel. David's going to talk to you about our product and it being a category one. We're going to integrate that into everything we do. We weren't just looking for a photographer. We worked with our ad agency to find the best photographer. We weren't OK with people sending in their own headshots. We brought the studios to them to make sure we had that brand continuity through it. We're really excited about it. Not only that, it's also winning awards. We're seeing great uptake and great feedback from the community on how it went. We're really excited. More importantly, and most importantly, what did we get out of it? We actually surveyed and sampled our target users. These are people that are 80% optometry, 20% ophthalmology. They've prescribed Vuity multiple times. This is our target, 15,000 ECPs. Already, 88% of them are excited about a non-pilocarpine solution. Our goal was to make sure we lay the foundation for the new non-pilocarpine solution. Moving on from the unbranded campaign, what I'd like to highlight is actually that we've got to have a very highly engaged MSL team. Again, learning from what's going on out there and what's working. We saw this with Tarsus. They brought on a 100% optometric-based MSL team. It worked very well. We followed suit. What we learned was optometrists are looking for a peer-to-peer discussion. They're not looking for an academic-to-practitioner discussion. Where we're at now, we have a 12-person medical team on board already. Like I said, 100% optometrist-led. When we look back at 2024, we were really focused on national conventions. We've upped that game in 2025. They're targeting 60 conventions this year. They're not only hitting the national conventions. Now we're dropping down to regional conventions as well as state-level conventions in those markets where we saw the biggest uptake with Vuity. Not only are they attending, they're wrapping around it medical events. I think a great example of that is just a few weeks back, we were at CECO. We rented out the College Football Hall of Fame. It was literally attached to the convention center. Over 100 optometrists came. They heard from a host of our clinical investigators just sharing the background of the product and development and what they're already seeing with it. Lastly, they've had over 1,000 meaningful medical interactions. Our goal is to continue to expand that. Our intent is to have that MSL team engage with the majority of our key target ECPs ahead of PDUFA. They're out there doing just that. Lastly, moving on to the highly talented sales team. We have the benefit of looking back at the first launch. When we did that, we looked at the landscape. Like I said before, 15,000 target ECPs represent over 80% of all the Vuity scripts. From there, we're able to build out all of our targeting and segmentation. We have each one of these doctors' names, addresses, and they've all been fully deciled. We know exactly what we want to go after. It's 80% optometry, 20% ophthalmology. We built out the 88 territories that we want to go after. Again, very similar size to what you saw in recent launches. They were targeting 15,000 ECPs and 86 territories. Now, when we look at the progress of building that team, we've made a lot of great progress. That leadership team is already in place. As we shared with you before, our VP of Sales comes from Allergan as well as AbbVie with eye care experience. In Q4 of last year, we brought on our two regional directors. Again, lots of experience. They come from both Alcon as well as AbbVie. Over the past couple of months, we've brought on all of our 10 district managers. When we look at that leadership team, we have over 300 years of sales experience. The interest to join LENZ is phenomenal. We posted our 88 rep positions. We had over 5,500 applicants in place. Our goal and expectation is that we're bringing on these sales team ahead of PDUFA. The goal is to have all 88 of them on by July 1. That team actually right now is in Phoenix today. They're doing final round interviews for about 20% of those territories already. We're making great progress. We're seeing very experienced, great people coming into that process. Now, that's just the team itself. I can tell you I'm seeing a great team come together. That team will be fully supported beyond that. When you think about the right materials for that team, internally, we set a target of pencils down by April 1st. We want to have all of our marketing materials ready, pending any last final feedback from the FDA, ready to go on April 1st. I'm excited to share that we have those pieces ready for the field. They're going to be ready to go. We also want to make sure that they have the right multi-channel support around them. When they're going to the doctor, not only are they already aware of it from the unbranded campaign, but they're getting the top-level support from the advertising online as well. We'll have a multi-marketing channel around that for surround sound. Those ads are already developed and underway. We'll hit them where it makes sense. That really covers how we're actually focused on making sure doctors can recommend us. I'm now going to bring up our VP of marketing to take you through how we're going to make sure consumers request us by name. Thank you, Sean. As Sean mentioned, I'm going to walk you through how we're going to effectively create a great brand that consumers will indeed ask for by name. To build a strong brand fundamentally begins by having a great product. Because I can do a wonderful advertising campaign that brings you in to try the brand. If the product does not deliver on the promise of the advertising, or if it does not meet your expectations, you are not going to repurchase it. In my career, I have had the very good fortune of being able to work on all of these different brands, asked to build these brands that, at their core, are great products. As you can see, they are in a variety of categories. They had a variety of consumer target audience. The strength of the competition varied across the categories. We did all the right consumer insight work. We knew which target audiences to hone in on to grow the business. We built the right marketing mix. We built the right messaging. In some cases, we built the right consumer websites so that we delivered tremendous sales growth across all these brands. For Barqs Root Beer, we far exceeded the soft drink category growth rates and grew it to be over a $600 million business within the Coca-Cola portfolio. As a result, two consecutive years in the Coca-Cola annual report, it was called out for that success. At Red Bull, we grew the business from under $90 million to over $1.25 billion in six years. The CEO of Red Bull asked me to join him at Dermalogica so we could Red Bull this thing. We built a compelling, consumer-centric e-commerce site, which created a robust, brand new sales channel for the company that continued to grow and augment the other sales channels. Dermalogica was acquired by Unilever. At STAAR Surgical, who makes Evo ICL, we began at the company when they were losing money. We then turned it into a very profitable company in seven years. Over that seven-year time frame, the stock price went from $7 to over $150. That was then. This is now. Now, once again, I get to build a brand that's based on an exceptional product, LNZ100. There are actually parallels to Red Bull with LNZ100. Namely, many people think of Red Bull as the energy drink category creator. It was not. Lipovitan in Japan was. Dietrich Mateschitz, the founder of Red Bull, would go to Japan on business. He would try Lipovitan. It was just OK. He saw the large opportunity for the energy drink category. He came back and created a new, different formulation. That is the formulation of Red Bull today. He provided us with the investments needed to build the marketing mix, to build the messaging, so that Red Bull is indeed seen as the energy drink category creator and has stood the test of time. Now, LNZ100 is not the category creator of presbyopic eye drops. Vuity was. Vuity did not deliver on its advertising promise. Its pilocarpine formulation was not ideal for the category. As such, the brand lost momentum and sales have dwindled. We are also very much benefited by the fact that Dr. Jerry Horn set about making LNZ100 the right way. Namely, he started with an independent peer-reviewed study that showed that you will get dramatic improvement in near vision if you get the pupil size below 2 mm. You heard that corroborated by not only dr. Marc Bloomenstein, but Dr. Milton Hom in his video. Then Dr. Horn also was trying to find a drug that not only would get the pupil size below 2 mm, but one that would be well tolerated for consumers and one that would work fast and last. As you heard from Dr. Heinven, who's done hundreds of studies, she can count on one hand the products that she can see being successful. LNZ100 is one of those. She's done 13 presbyopic studies, whereby patients have been in all 13 presbyopic studies. This is the one that they love. LNZ100 is the one that they want to keep. We are best in class. We have a fantastic product. This is the foundation that myself and our team get to work from to build a brand that consumers ask for by name. We know how to do this. We've done it successfully in the past. We are going to do it again. As Abe said, we will build this brand around better vision and better living to get consumers to ask for it by name. To do that, that comes from engaging consumers effectively, reaching them where they consume their media. It also comes down to desirability, creating a plan so that they see this brand and they want it. I am going to walk you through our plan. You are going to see a lot of the components that we used to build successfully those other brands on the prior slide become a part of the plan for LNZ100. Let us start with the marketing mix. The first thing we are going to do is we are going to sample. We sampled for Barqs. We sampled for Dermalogica. We sampled for Red Bull. In this category, roughly 60% of the people coming in are looking for a solution for presbyopia. When you have a great product, there is no better proof point than to let a consumer try it. We're going to have samples available for our doctors. They'll be able to, if they want, offer to the patient right then and there, if they pass their eye exam, to try LNZ100. Within 30 minutes, they're going to see the positive effects. This will be how we begin our marketing mix with sampling through our doctors. We'll also advertise. All those brands that you saw on the prior page or prior slide, we advertise for all of those. We know how to build an effective media mix, so we'll reach the target audience. We know how to create messaging that breaks through. I'll share with you on some slides how we deliver that again for LNZ100. Advocacy. This comes down to celebrities and influencers. We use this effectively at Red Bull, where we use action sport athletes. We did it effectively for EVO ICL, where we had celebrities in Japan, K-pop stars in Korea, athletes in Europe, athletes and celebrities in the US. It works when it's done right. We'll walk you through how we're going to do it right again for LNZ100. Now, the brand itself. This brand is going to live on a lot of bathroom sink counters. As you saw from the packaging, it's going to be sleek, stylish. Everything we do from the packaging to the materials in the doctor's office, through the messaging that we deliver to consumers, will be sleek and stylish. When we say simple, this comes down to the messaging itself. We are not going to make any consumers work to understand what we're offering. We'll take the approach that we did for Barq's and for Red Bull. Namely, for Barq's, it has this unique sassafras formulation. It gives a little spiciness, a kick. We did not talk about sassafras in our advertising. We said Barq's has bite. For a young male, that piqued their curiosity and the desirability to try Barq's. We could deliver on the advertising promise because Barq's did have a bold taste. Same thing with Red Bull. Red Bull gives you wings. We did not talk about the glucuronolactone, the taurine, the B vitamins, everything that's in Red Bull to give you the energy. Red Bull gives you wings was both an efficacy promise and an emotional promise. We will deliver that with LNZ100. When it comes to substance, that is the product itself. Abe shared with you Dina's experience with it. You have heard all the doctors talk about it. Let me share with you another patient who was in the trial, Pamela, and her experience with LNZ100. Hi. My name is Pamela. I own an interior design company. I use my computer a lot. I'm on the phone. I'm in stores purchasing things. It is very frustrating because it's glasses on, glasses off. They're always on my head. I have one in every room in the house. I have a couple of good friends that are eye doctors that I'm like, we're out to dinner. I'm like, what am I going to do? OK, let me do LASIK. Let me do this. I looked up all this stuff. Paul sat across from me. He goes, you can't have LASIK. That's not what that's for. I'm like, OK, what else can I do? Of course, my glasses are on my head. He takes my glasses off. He puts them on my eyes. No, that is not what I was asking you. I do not want to wear glasses. The drops are life-changing. I did not have to worry about finding my glasses, having my glasses with me somewhere in the vicinity all day long. I am on the computer. I'm on my phone. I'm with clients. I'm shopping. I am doing activities all day long that I need to see smaller print. I could plan the eight hours a day that I wanted to be able to see like a regular person and not have to have glasses on. I've already told so many friends of mine, you can plan your day. You can plan your life. You do not have to be tied to having glasses with you at all times. Two things really stand out. You heard Dr. Glover talking about he wants to help patients live their life on automatic. You heard from Pamela. She now lives her life. She lived her life on automatic with LNZ100. She had her eight-hour day mapped out. The beauty of it then is I only need to know where my reading glasses are, basically by my bedside table, and perhaps at my island. I'm done. Secondly, you heard how she's going to tell everyone. Dr. Pamela Lo also commented on that. When you have a great product, word of mouth is the hidden, unmeasurable part of the marketing mix. We have a great product. We're going to have a great brand. People are going to tell other people. That's going to be another component that we don't measure that's a part of our marketing mix. I want to share with you another consumer who was in the LNZ100 trial. And here you're going to hear more of the Red Bull benefit, not only the efficacy, but the emotional benefit of LNZ100. Hi. My name is Chad. I'm a sales director in the automotive field. A lot of my job is cold calls and meeting new people, introducing myself for the first time. The first appearance is very important to me, presenting myself in the OE dealership, being professional, and determining whether or not I need to put on my readers ahead of the meeting or after the meeting or in the middle of the meeting. Sometimes when I'm looking at my tablet, I'm fumbling through, trying to find my readers to point out something. The drops actually just brought back some confidence in me. At my appearance, I felt better about myself. I was able to walk in with more confidence, shoulder up, and didn't have to fuddle around trying to find something. When I put the drops in, I was able to just walk into the meeting with confidence, not have to worry about anything, pull out the tablet, start selling right away. I mean, how great is that? A prime example of better vision, better living. Chad talks about how that emotional benefit of confidence that brings him. What we'll do on our behalf is we're going to create a vibrant YouTube channel where consumers can hear from Chad. They can hear from Pamela, Dina, and many others. We will also create advertising from these testimonials. We'll cut these into 10, 15-second segments. When we place these ads, consumers can hear about Chad, not only the efficacy, but the emotional benefit. They can look and go, oh, you know what? I'm looking for exactly that. Again, they're going to come in and ask for LNZ100 by name. Abe referenced at the beginning that there's 128 million presbyopes out there. The first thing you have to do is understand who your brand would over-index for, who is most wanting your brand. We did quantitative consumer insight work where we asked 45- to 55-year-olds who are suffering from presbyopia at the appropriate income levels. Who most of these wants a presbyopic eye drop to use and put your life on automatic, as it were? What we learned was these are the three consumer groups that highly over-indexed on looking for a presbyopic eye drop to live their life. As you can see, it's contact lens wearers, post-LASIK patients, and med spa consumers. We know exactly who we're going after in terms of our initial target audiences. We'll let these people create the word of mouth ripple for the many others that are out there. We have built a plan where we are going to surround these consumers with our media, with our advertising. We will touch the vast majority of every single one of these target audiences. We will do it through their social sites. Not surprisingly, their favorites are Facebook and Instagram and Pinterest. As I mentioned, in terms of online video, YouTube, 70% of our target audience uses YouTube. That is why we will have a vibrant presence there. That is why we will do advertising there. Connected TV, again, we will have a vibrant presence where we meet our target audience. We will do display ads as well on the websites that they gravitate to for their activities. I talked about celebrity influencer marketing. Say what you will about the Kim Kardashians of the world. Celebrities get consumers to pick their head up and see what they're talking about. The best celebrity advertising is one where you have an authentic celebrity. You think about Michael Jordan when he did Nike shoes. He's credited with turning around Nike. An authentic celebrity is one that actually uses your product. We have a great agency partner. We'll find celebrities, celebrity or celebrities, who again appeal to our target audiences and will be consumers of LNZ100. We'll let them use it for an extended period of time. They can talk credibly about the benefits. In the advertising, they'll be able to share their personal experiences, both in terms of efficacy and relatable moments. We will supplement that with influencers. As you can see, these two lower levels of the pyramid, these mid-tier and micro influencers, these are people that have followers in the 250,000 or below range. Here, once again, we'll let them be consumers of the brand. We'll let them use it for a length of time. With them, we'll let them do their own user-generated content. They'll talk to the followers in their own voice. Again, the benefits of LNZ100, the relatable moments, and why they love it. In this way, we'll surround our target audience with messaging from celebrities and influencers. They'll build that ripple effect. Wow, everyone is talking about and using LNZ100. That's half the battle, making sure that your brand or your messaging is in the right place to reach your target audience. A huge part of your success then to get consumers to ask for your brand by name is to have great messaging because our competition is clutter. What I mean by that is there's $11 billion of health care advertising spent each quarter. You add to the fact that there's $100 billion of consumer advertising spent each quarter. That can become a lot of white noise for consumers. If you don't have a really good message, they're just going to roll right by it when they're on Instagram. Or they're not going to pay attention to it on their laptop or on their TV. What we set out to do was make sure our ad would indeed resonate, our ad campaign. We created a campaign. We tested it against 45-55-year-olds suffering from presbyopia at appropriate income levels. We placed these ads in endemic sites. We placed them in the Facebooks and the Instagrams so they would see it as a real ad. We measured its effectiveness. Here's what we learned. When we then asked, how likely is this ad to affect your consideration, we had persuasion scores of 86%, 86%. We far exceeded the category norms for health care advertising and for consumer packaged goods advertising. The reason we were able to do that was because they were memorable. They were differentiated. When you think of being bombarded by $100 billion of advertising and they're just scrolling, they stopped. It had stopping power because, again, it was memorable. It was differentiated. You think about, again, our target audience. It had huge relevance for them. Not only did it get them to stop, again, the simple messaging, they got the relevance of it. What did they want to do? It drove them to want to purchase it. When we say drive to purchase, in this case, that equals a click. They watch the ad. They click. Where do they go? They go to a very relatable consumer website where they can see this is an everyday drop. This is something for me. It's sleek. It's stylish. It's modern. As you can see, it's highly relatable. This is exactly what they're looking for. Again, if they want to learn more, they can click on the About LNZ100 tab. Real experiences, they can click on that. Again, they can watch videos if they want to watch Chad, Dina, Pamela, or any others. Any questions you may have, the FAQs are there. They can find out what the pricing is. Again, click, find your doctor, go in and see him, get your eye exam, qualify, get your prescription. Circling back to our goal, once again, very fortunate when given a base that is an exceptional product, LNZ100. We are poised and set up to deliver on the rest of it, creating the understanding that this brand is going to give you better vision and better living. We've got an outstanding marketing mix. We've got outstanding messaging. We have a great website. We have excellent agency partners. Just like Red Bull is now seen as the category creator for energy drinks, LNZ100 is going to be seen as the category creator for presbyopic eye drops. We, too, will stand the test of time. Thank you. I'll turn it back over to Sean Olsson. Great. Thank you, David. What you've seen today is we've gone through the commercial strategy. We hit our first pillar, doctors to recommend us. As you can see, we're already well on that journey. You heard from many of them today. The second one was consumers to request us by name. I think what you just saw with the horsepower of David and his team behind them, not only are we well on our way, you can see a lot of it's already put in place. We talked about an April 1 pencils down date. You can see a lot of that's already pulled together and ready to go. Now lastly, what I want to take you through is that seamless journey to use. How do we take someone from I want this product to its trial and usage as quickly as possible? We desire to create that seamless journey to use. The three different areas I want to talk about today are that first one of visiting the ECP, the sample and script, and then ultimately the fill and refill. What you do not see on here are any PBMs or any of that background work that has to be done with insurance. We really like that this is a cash pay product. That allows us to very efficiently move people through this process. We saw that with the first product launch. They were very quickly getting up to those 6,000 scripts per week because access could be streamlined. When you think about the first one, visiting the ECP, there are a couple of ways they are going to visit the ECP. Let's start with who the doctors are seeing today already. When we did our survey, what we saw that, again, of our target eye care professionals, on average, they're already seeing 215 presbyopes every month. Now extrapolate that across 12 months a year and our 15,000 target ECPs. That's nearly 40 million presbyopes already walking through those doctors' doors visiting the ECP. That's before we turn on all this DTC. We turn on the direct consumer, and we push even more into that doctor's office. Now, when we turn on the DTC, some of those people may have an eye doctor. Some might not. That's where the find a doc really comes in, setting them up to quickly find a doctor and a doctor with samples so they can try it. After that, we'll go on to the sample and script. Let's talk about our sample pack. This is going to be a five-day sample pack. We put a lot of thought in this. This is the right size sample to try it and also bridge them until that product shows up at their door. This is very similar to what you see with contact lenses. When I get my new contacts every year, they set up my new prescription. They give me a five pack, so I'm good to go that day. When my contacts arrive at my door a few days later, I have that coverage until then. Very similar strategy to contacts. Also right size because this amazing wow effect. You heard it from those patient testimonials in phase III. It works, and it works fast. This isn't like dry eye products where you have to build up any accumulation or use it for months on end until it shows up. This works day one. Day one, hour one, 95% head to two line improvement. That's why this product really lends itself to sampling. We're excited about that. This being a bridge pack is great. Just like contacts, this doesn't require going to a pharmacy to pick up your sample. Our reps will carry these samples to the eye doctor. Those eye doctors will be able to hand that sample directly to the patient so they can immediately have that sample to try. You won't have to worry about it getting caught up in the IQVIA scripts or any of that data because it's all dispensed at that optometrist, not through the pharmacy setting. In addition to that, to make it very easy for both the doctor and the patient, our strategy is one sample, one script. In the doctor's office, when they're putting in that script, it will go right into their existing EHR system. You probably often remember when you were talking to a doctor and they have a new prescription for you, the first thing or the last thing they say is, "So where do you want your script sent?" You usually give them your local pharmacy. With our system, the way we have it set up, they'll be able to send it to our partnered ePharmacy or their local pharmacy if that's what the consumer prefers. When we look at this, let's deep dive into our ePharmacy a little bit. We spent a lot of time selecting the right ePharmacy partner. This has really taken off, I'd say, over the last three years. When you look at the backgrounds and developments of Hims and Hers and Ro, this has really become the commonplace. People like to get their product at their door. We wanted to make sure we provide that option. When we went through selecting this process, we made sure that we could find a partner that had that right consumer engagement, that it has the ability for that auto refill. We really cared about the consumer experience and ease. We spent less time focusing on what a lot of them offer, which is the back-end services. How can I manage your different insurance? How can I manage prior authorizations? Again, we do not have anyone about that. The other thing we learned is people have app burnout. They are not looking for another app to download. Their phone is full of apps. They want a text message. They want to click the link. You imagine you've just gotten your, you just talked to your doctor. He sent the ePharmacy, and your phone pops up. Yep, we've received your prescription from Dr. John Doe. You just go to the website, and you finish off that process. That process is very simple. In this example, you go to getlnz100.com. You put in your last name and your birth date. It will match up your script. From there, on your checkout process, we made it simple. You go in. You either check your payment method. Automatically, it's going to be set up for auto refill, but you have the option to take that off. Once you click send, off you go. Now we have a constant communication with that consumer. We're meeting them in their element. We're really excited about this. That being said, some patients do prefer to still go to the retail pharmacy. We did not stop with only the ePharmacy. We have the retail pharmacy as well. Again, our team has put the infrastructure in place to deliver this. When you think about the infrastructure required, we have already contracted with our 3PL. We have already begun our contract negotiations and finished some of them for the wholesaler network that will then deliver this product to that final pharmacy so you can just show up and pick up the product and be ready to go. When we think of that ease of access journey, first, getting them to the doctor office, a lot are there. Our DTC will push more there. You saw the website from David. That is going to quickly get them in that funnel, get them starting that actual journey. When they show up at the optometrist, they're going to be able to try the product day one, experience, feel what it's like. They're going to leave not only with that sample, but that script. We're going to meet them where they want to be met, whether it's the ePharmacy or it's their local retail pharmacy. Both avenues we open. With that, I'm excited to conclude the commercial strategy component of this discussion, which really focused on the doctors to recommend us, the consumers to request us by name, and that seamless journey to use. We're excited to share this insight. Now I'd like to hand it over to Dan, our Chief Financial Officer. Thank you, Sean. Good afternoon, everybody. My name is Dan Chevallard, Chief Financial Officer here at LENZ. I'm going to hit a couple of key points to really tie things together. I've just got a couple of slides. Really, I'm standing between you and an exciting conclusion of our program today. I'll try to keep it brief. One of the things that we talked about today and one of the things that Eef Schimmelpennink mentioned this morning is the question that we got two years ago: is there going to be a market here? I'm going to talk about two of the questions that we're getting today, which are, what do tariffs mean to you, and are there disruptions at the FDA that are going to be particularly impactful to you? Ultimately, I want to make sure that you walk away with a message that we are moving forward with the foundation, if not a track record of our own, of execution. We are doing that in a position of financial strength. Let's talk a little bit about the FDA and what's happening there. I'm sure this is something that's on your mind, and you're wondering kind of where are we and how has the recent turbulence in the market affected our own NDA review. A couple of key points here. Importantly, there are no known or anticipated changes to our review team that we've seen as a result of what's gone on at a federal level. Excellent continuity in our review team, and we think that that's important and wanted to emphasize that today. Secondly, and on the heels of our mid-cycle review that we talked about in our year-end call that was in late January, we have a late-cycle review now that's coming up and has actually been pulled forward. That is now scheduled for late May. Thirdly, and frankly, perhaps the most tangible thing that you can point to about the level of engagement from FDA is that we have clinical inspections that are ongoing. We think that's a very positive sign, and that continues to move right along on schedule. All of this is to say, now less than four months from now, we believe that we're well on track for our August 8 target action PDUFA date this summer. Now, Sean and David both talked about the pillars of our commercial strategy. I'm going to talk a little bit more tangibly about, well, what are we doing now and over this continuum over the next couple of months. I'm going to really emphasize the first pillar, which is making sure that we're in a position for our doctors to recommend us. The third pillar is enabling that seamless access for patients. Let me just start with what are we doing today on the manufacturing side. We are working around the clock to manufacture bulk product. Clearly, we're not going to have final packaging done. That's going to come once FDA has approved our label and our package insert and our carton. That's not today. What we're doing now is what we can control, which is making sure that we have as much product manufactured in bulk form as possible. On the sales and marketing team, this goes right to the first pillar. Sean's already talked about the 5,500 applicants and what we're doing literally today in Phoenix with many interviews that are ongoing. We are squarely focused on ensuring we get the highest and best talent into our salesforce organization. That's what we control today. Now, let's fast forward into the summer months. Now let's talk about what are we going to be doing in these two more tactical execution-focused areas around the time of PDUFA. At PDUFA, you'll have an approved carton. You'll have approved PI. You can imagine the supply chain team is going to be fully focused on making sure that final drug product with all the approved carton, PI, and package is ready to go as rapidly as possible following PDUFA. On the commercial organization, this is really the launch. This is the rapid and immediate initiation of all of our commercial efforts. This is making sure that we are hitting the ground running on all activities with the Salesforce on the first day after we've got approval. That's the objective there. Now let's go to Q4. How we've guided and what we've talked about is with an August 8 PDUFA date, we're going to have these activities that I've just outlined happening and then product in the market in the fourth quarter. Let's talk about that. What is going to be happening in the fourth quarter? What should you expect? You should expect our drug product and samples to be fully propagated through that retail or through that distribution channels and all of those channels, which there are three. The two product distribution channels are going to be the traditional wholesaler and retail pharmacy channels. Clearly our ePharmacy, which is also an item that we've talked about. Importantly, the third is to make sure samples are ready to go and make their way out and into the hands of ECPs. From a sales and marketing standpoint, really capitalizing on the availability of that product to make sure that our commercial product is going to be able to be those scripts are going to be able to be written and filled, but also then hand-carrying those samples and getting them to the ECPs and ultimately to consumers. We've got a busy couple of months coming up. From a supply chain and commercialization standpoint, I think we're in a good position. This was not necessarily a topic when we drew out the agenda for this event today. There might not be a more topical point of mention. I guess I'm very excited to be able to share the following key points with you. Everything that I'm going to step you through, I would just like to recognize our manufacturing operations team and our regulatory team that have proactively pursued these things for important import reasons, as we all know, of our supply chain. We can talk about that. These are definitive rulings that we've gotten. I want to step you through both. First of all, on November 7, we got a definitive ruling from the Department of U.S. Customs and Border Protection, I should say, that declared LNZ100 because of two things. Where our API is manufactured and the substantial value of our product resides, LNZ100 will have the United States as a country of origin. That's super important. And those words are very specific. Country of origin is the United States. Secondarily, on April 2, perhaps a bit serendipitous, we got a second definitive ruling from the U.S. Department of U.S. Customs and Border Protection Agency confirming and using these words that LNZ100 will be duty-free. We think this is a very important delineation and frankly rare error that we are in where all of the noise that's out there around tariffs and all of that distraction, frankly, about the pharmaceutical industry, even if the pharma exemption goes away, these supersede all of that. We'll be very proud to be able to say that LNZ100 is made in the USA. The third leg of that stool and something that's talked about less that I just want to make a very quick mention is around, as you think about our API manufactured in the United States, our current fill finish happens in Germany and round trips back to the U.S. Our intellectual property is domiciled in the U.S. That's important. Why? It's important because when you go through customs, you have to assess the value of your product because that could trigger other costs associated with getting that product across the border. Where that IP is domiciled is particularly important and effectively will obsolete any incremental cost to the company for bringing that product in. Definitively, LNZ100 is made in the USA. We are very proud of that fact. Now, it would be odd for the CFO to have a couple of things to say and not give you some numbers. Let me give you two. We'll start with two. First of all, you might have seen an 8K that was filed this morning. We did that because we're making this disclosure to you here today. We ended the first quarter, March 31, with $194 million in cash on the balance sheet. For many of you that know the company well, you're probably doing some quick math. You're saying you ended the year with $209 million. Okay. You burned $15 million in the first quarter. I just wanted to highlight for those taking specific notes that the first quarter included some non-recurring one-time costs early in the year of about $3 million. Think about our operating burn in Q1 being something closer to $12 million. Secondarily, and we think this is really a point that ties directly into what we've been pounding the table on for five consecutive quarters, we believe that our cash is sufficient to get us to positive cash flow. We wanted to take this opportunity and illuminate for you the cash balance that we expect to have at PDUFA, which we believe is a very strong number. We are now guiding to a balance over $170 million in cash at PDUFA, which we believe, again, will be sufficient to take us through to positive cash flow. Takeaways there: consistent track record, quarter on quarter of execution on plan. All of this is built on a foundation of financial strength. Without further ado, it's my pleasure to hand it back to Dr. Marc Bloomenstein, who will be joined by our special guest today, Tiffani Thiessen, for a live discussion about her experience with presbyopia. Hi. H i. Hi. Hi. I'm back. All right. Everybody's excited that I'm here. I think I brought a guest. Hey, guys. How are you? And ladies. I see a few ladies back there. Some of you are wondering, why is the optometrist up here with our A-lister? Can I call you Tiffani? Yes. My name's Tiffani. You can call me Tiffani. No. Okay. Call me Marc. You can call me Marc. You are here on this commercial day for LENZ, as I am. Neither of us work for LENZ. We just. No. We're both presbyopes. Yes. We are. Yeah. It's pretty exciting. I get to ask you some questions. I'm going to be honest with you. This is what a Presbyope actually looks like. Oh, it's funny. It looks like my phone. Yeah. Yep. Yeah. I don't even have to do that. What inspired you to become an actress? Oh, gosh. You're going way back. You started, what, when you were 15 years old? I started even younger than that, actually, just a couple of years ago. Yeah. No. I started very young. I actually started modeling and doing commercials first. I got involved because my uncle at the time was a photographer and actually was very good friends with some agents and was like, "Oh, she's a cute girl. Let's see if we can make some money with her," that kind of thing. It was very casual. I absolutely loved it. That's kind of where it blossomed. I was super fortunate to land a pretty big job, a show that I'm sure maybe you guys have heard called Saved by the Bell. That was kind of one of my very first big sort of shows that I had done. You were like America's teen sweetheart. Yeah. I guess so. If they only knew. No, kidding. I think most of these guys probably have seen it on TV Land or wherever else those reruns are going. Oh, it's been redone on so many different networks and streaming now and all that. It's funny. I have two kids myself. I have a teenager who's a freshman in high school and a third grader. Very, very vastly different. I always can tell the type of people and what generation they've seen Saved by the Bell by either it's my son's grades or they're starting to see or maybe now it's Alex and Katie or something like that, one of the shows that I've done recently. I have three kids that are in their mid-20s. When I said, "Oh, you probably don't know who she is," like, "Are you kidding?" Then it's like I got all these memes and other things. I'm like, "Okay. Calm yourselves. It also keeps playing. That's what's so funny. I will never escape it. As long as you're getting residuals, that's okay, right? That's a whole nother story. Anyways. Any fun or memorable stories? Oh, my gosh. I have so many. I mean, I think the best part of it is that I'm still very close with a lot of my castmates from a lot of the shows that I have done in the past. Probably some of the best memories were either when we got to travel outside of our set and do some of the episodes like at the beach or we got to go to Vegas or those ones were always kind of fun for us. It reminds me of the Brady Bunch, like Hawaii with the Tiki thing. Yes. I know. In Los Angeles. It was so we got to go to Hawaii too. I forgot. Yeah. Did you really? We did. Yeah. Amazing. It was fun. Super fun. You were super sweet, lovable Kelly, right, on Saved by the Bell. Uh-huh. What? Something woke up in you one day and said, "I need to be the BI? I wish it was that easy. No, no, no, no. It was the creator of Beverly Hills 90210, Aaron Spelling, I guess, had seen me on Saved by the Bell and had asked to have me come in and test for this new role that was going to come and replace one of the characters on the show that was leaving, which was Shannen Doherty at the time. It was like a big sort of interview that I had with him and all the producers and writers and all that. I got it. History was made. I did another five seasons on that show. I went right from Saved by the Bell right to 90210. Very lucky. I mean, that's pretty lucky to get to work like that. Huge opportunity to get shows. Yeah. Yeah. Yes. Very much. Very much. Spelling had that magic touch. I remember when we both were 90210 because I actually lived in Las Vegas. You lived the 902. I was living 90210. Yeah. It was interesting times back then. I worked in 90210, but I did not live in 90210. No. That obviously, I mean, to me, it shows your range of acting. I mean, because you go. Oh, that's very sweet. No. Because, yeah, you go from this lovable person. To me, the way you can always define a good actor is you hate them. Yeah. True. True. It's like. For true, true. Like certain people that it's like, if I ever saw them in real life, I'm like, "I can't stand you. Yeah. I have to say, as an actor, it's always more fun to play something different than you are, right? It's always more fun to have a character that is vastly different than yourself. Is there any one character you can think of that you've loved more than any others, or? Oh, gosh. No. That's hard. I mean, I think a lot of the shows that I've been on, from those two to I did a show here in New York City for seven years called White Collar. That was such a wonderful show and super fun to live here in the city. That character is probably the closest to myself. They all have little pockets of time in my career that mean something to me. Like living in New York, I had my daughter during that time. They all are very special in different ways. That's awesome. It's hard to pick. Yeah. It's like picking a favorite child. You really can't do it. On days, you can, but. Your career started about 5 or 10 years ago when you were 15. Uh-huh. We'll just start with that. You hosted Dinner at Tiffani's. Yeah. Yeah. Yeah. I did. What was that? That blossomed actually when I was living here in New York. I was shooting White Collar. We were living, and we were always going to the Chelsea market. I'm such a foodie. I love to cook. I love food. I just had this whim of an idea. I was like, "Yeah. I I wonder if they'd ever do an actress cooking show. They've never really done that. I wonder if they would ever do that." I walked into Food Network without really a solid sort of idea. I was like, "I have this idea literally about me cooking with my celebrity friends." It's called Dinner at Tiffani's. They're like, "We like that." They bought it. Did you have a special genre of food that you liked to cook or is just? No. No. I love it all. I love it all. I mean, I'm a total California girl, so. You look like you love food. I do love food. I just have to work out really hard. Yeah. I work out a lot. I play pickleball. What can I say? Okay. You've definitely told us that you've transitioned into presbyopia because you're playing pickleball. I'm 51 years old. Of course, I have. That's how, for me, whenever a patient says to me, "I play pickleball," I'm like, "Okay. You're old." It's like, or better yet, when they say, "Oh, do you have Facebook? Are you on Facebook? I mean, it crosses with my Instagram. I'm more of an Instagram girl. Yeah. I'm not old enough to be on Facebook. Right, kids? You guys know what I'm talking about? Yeah. So yeah. Seems like a pretty young crowd. Was that when you started noticing some changes to your vision? Oh, my gosh. I noticed it. I have to--I'm going to be really honest. I'm 51 years old. I do not lie about my age. I started noticing it in my very late 30s, early 40s. I think my glasses came on my face at 41. It was definitely really hard to read scripts, recipes, any of that kind of stuff. It was very difficult. It was getting blurry, for sure. Yeah. Absolutely. I was like, "Oh." I remember calling my mom. I'm like, "Mom, do you remember how old you were when you started to have to have readers?" She's like, "Oh, I think it was in my early 40s." I was like, "Okay. I think I'm there." Yep. Yeah. I mean, obviously, see, the way I perceive that is like the things that you have to do, especially if you're cooking and you're looking at a monitor and you're trying to talk to a host or on the set, I could see where that would add a lot of challenges. I'm at the place now where I've got glasses downstairs. I've got glasses in this room. I have glasses upstairs by my bed. I have glasses in my purse. I have glasses in my car. How many glasses do I have? A lot. I have a lot of glasses. I think your optometrist is happy with that. I'm sure. Probably. You're very true. Generally. You're very, very true. I go every year. I'm very good. I'm a good person when it comes to my doctor's appointments. Yes. Definitely, the presbyopia has started to affect your vision. Oh, it's very much. I can't even read books with my kid in bed. I'm like, "Oh, honey, let me go back to my bedroom. I got to get my glasses. Right. Yeah. Very much. Can you think of any moments like traveling or being on the set or any frustrating moments or funny moments? It is frustrating for sure because it is not like I wear my glasses with a strap on them, right? I guess I could, but I do not. Leaving them in the dressing room or leaving them in my purse. I have to go, and I cannot read my sides. I mean, it is not like my phone where I can make my phone super big and I can get by without my glasses. The scripts are printed in a certain way, and that is how they are printed for everybody. You can always tell the actors that are over 45 because they are all the ones with the glasses on. It's very interesting because we have the confidence monitor up here. And so a big challenge for. For there. Speaking or standing here is that if you're looking in the distance and then you want to look at the confidence monitor, unless you're wearing progressive lenses. Right. Which I don't. Right. You can't see that. Yeah. You almost kind of feel like, "What's the point of having a confidence monitor? I have no confidence. Yeah. I can imagine the teleprompter is kind of the. Looking out and looking at your actor when you're talking. Right? They're usually this distance, right? It doesn't work. So I'm always doing it's this. Yeah. That does. Yeah. That does. You cannot have your hands free when you are trying to act. A lot of times, you are doing stuff in the scene. It makes it a little hard. Okay. All my actors are blurry. That's okay though, right? All right. Some of them look better blurry. I'm just kidding. She wasn't talking about you. I won't name any names. You're not an actor. Come on. That's right. I'm going to have to. You're doing a great job though. Thank you though. Thanks. Okay. Any friends, colleagues, family members with some experiences with blurred vision? Yes. My husband came into glass wearing a little bit later than me. This is a very funny story. I got permission to tell it, so I am going to tell it. He started coming to me telling me that he was getting these headaches and that he was really worried and he feels like he needed to go to the doctor. Right away, I was like, "Oh, he needs glasses. He's having a hard time with straining. He's getting headaches from straining." He's an artist, so he's always drawing and all that and writing. Right away, I knew exactly what it was. He goes, "I think I'm going to see if I can get my brain scanned. I'm worried that something's going on in my brain." I said, "What do you mean something's wrong with your brain?" He goes, "Well, I'm getting these headaches. What if I've got something growing in my brain?" I go, "Honey, you don't have anything growing in your brain. I promise you. Just go see the eye doctor. You need glasses." That's exactly what it was. When you had told me that story before, I'm glad you repeated it because it's like we have so many patients that come in. The reality is that there's what's called a just noticeable difference or JND. Yeah. It's like they go to bed one night. They wake up the next morning. It's like, "I can't see. Yeah. I mean, what happened to me? Yeah. Your husband's experience is actually really, really common. It's common, right? Yeah. Yeah. Very common. I just think it's funny that he went all the way to that side. Yeah. I don't have a lot of patients where they're like. Where they think it's brain cancer. It's a tumor. Yeah. It's a tumor. Yeah. Exactly. You need a brain scan. Yeah. That's my artistic overlay. My husband has lots of fun brain activity in there because he's an artist. So he's always got stories going on. I would have sent him in for a scan just to help him. What's nice about presbyopia though is that when you have something in the lane for me to be able to just hand to you and say, "Look, here. Does that make it better?" Oh, yeah. Yeah. So realistic. Yeah. Because most people who are presbyopes, they don't even, they're like, "I've never had to wear glasses. Yeah. It was such a shock. Did you wear glasses? When I was a kid. Yeah. No. Never. So it's. Never, never, never. I never wore glasses. Were you in denial like your husband? Did you just like. No. I feel like I'm really good about embracing the aging process. I try to, right? I mean, it's definitely hard sometimes. You're doing a great job. You're very sweet. No, I mean, I can't escape it. So as much as I try. I mean, glasses is one thing. And then there's lots of other things that happen too. We've talked about before too that, I mean, wearing reading glasses, the ones at the end of the nose. Yes. Where you see those people where they unclip it and they put it here or the Peeper Keepers. Yeah. I always have a red Marc right here, which sucks as an actor too because then the makeup people aren't happy because then your makeup's getting all messed up. I never even thought about that. Yeah. Right. It's like, "Okay. Can somebody get it here? Yeah. Tiffani needs some more powder. Yeah. Yeah. It gets on your glasses. They never stay clean. Annoying. The struggle is real. The struggle is real. The struggle is real. Have you tried contacts? Did your optometrist put you in contacts? I've never tried contacts. I've worn contacts once for a movie when they had to have me have brown eyes before. I don't know. Wait. Hold on. Hold on. Why? Because they wanted me to, it's a silly movie. It was like one of those crazy horror movies where I'm one person with blue eyes, and then I'm another person with brown eyes. Really? Yeah. It was crazy. A long time ago. Anyways. I had to wear contacts for that. I hated it. Now, granted, I think they were thicker because they were just for color. Maybe. I don't know. You could tell me. Yeah. No, they're not. Okay. I don't like contacts. Yeah. I will not put those things in my eye. What's interesting. That movie ruined it for me. Yeah. Totally. Yeah. He said contacts. And I'm like, "Nope. I'm going to have to. Is somebody already googling that? The movie? Blue Eye movie? No. I'll tell you the title later. All right. Tell me later. I got to look that up. To your point though, we talk about solutions and opportunities. People think, "Oh, just put contacts in and don't worry about it. Yeah. Contacts in themselves, I mean, it's a piece of plastic sitting on your eye. Agree. It's a vital organ that kind of has its own environment and sort of draws you out. You don't love pushing contacts on your. No, I'm not a contact lens pusher. Yeah. Because the problem with contacts is that we are a binocular animal. We need both of our eyes. We see better depth and other things. Yeah. When you do contacts, you either do a multifocal where you're kind of separating things out or you do a monovision, one eye for distance, one eye for close. Yeah. That would annoy me, I feel like. Yeah. Yeah. How do you treat? I mean, are you wearing progressives, over the counters, or what are you doing? I'm just researching. Just the tears? Yeah. Yeah. Yeah. That's not good. Just the readers. That's all I got right now until someone tells me I need something for driving. Yeah. So question. Okay. You go to your optometrist? I do every year. Okay. I do. I do. I'm due for one again in October. My question to you is if they were to say to you, "Hey." Do they call you Tiffani also? Yes. Do they? Yes. I don't know. I mean, I probably wouldn't. I'd probably be like. What would you call me then? I'd say, "Hey, girl. What up? Yeah. You'd be like, "Nothing." If I said to you, "Hey, we have an opportunity to use a drop. Yeah. It's a one-day dosage. It should last your whole day. Okay. It's going to make your pupils smaller. So you have depth of focus, distance, and close. Would you be interested in trying that? Why do you think I'm here? Yes, absolutely. So. It's genius. I kept telling people you were here because you wanted to meet me. Obviously, that's not. All these people. Yes. Yes, yes, yes. Yeah. I mean. Oh, yeah. No. I'm all in. I cannot wait. Does your optometrist provide you with different types of solutions? Is he trying to help you or is it just? No. He's like, "Here's your new readers. That's it. Bye-bye. Move on. Yeah. Give me his number. I'll be calling him. Yeah. Yeah. I mean, hopefully, we will have a solution like that for you to be able to use. Yes. In the very near future. At least that's what we're all here for. Yeah. Keep hearing. It's very exciting. Yeah. Very exciting. So exciting. One last question for you. Yeah. I had mentioned to you before about roles and such. You said that you embrace your age. People know how old you are because you've been around for so long. You can't. I've been doing it for so long. And it's been on websites for so long. I really can't lie. I mean, they would all know I'm lying. So I have to embrace it. I really don't have a choice. Do you feel though, as an actor, when you put on reading glasses on a show or when you're doing something, it really does? It's demonstrative of your age? It's funny. When I was younger as an actor, I always thought, "Oh, they're putting glasses on me to make me look smarter." Now that I'm over 50, yes, I absolutely do. I very much think it's more of my age for sure. Yes. I mean, it is. I've been wearing them now for 10 years. Very cool. Very cool. I appreciate it. Should we see if there's any, does anybody have any? Does anybody have any questions? I sometimes like to open it up to the. They've got microphones out there somewhere. Does anybody have any questions? I could hear them. I could hear them. Does anybody want to? Not that far. I'm willing to answer questions too. I knew there was going to be somebody. Yeah. Thanks for having me. How powerful is word of mouth? If you're on board with this product and you have a lot of celebrity friends. Yeah. Yeah. Yeah. I'm curious. Yeah. I mean, look, very much so. Even just as little as I told people what I was doing in New York for today, even my glam. I'll just say just immediately, my glam that came and did my hair and makeup, right? They were like, "What are you doing here in New York?" I kind of gave them a little tip. They're like, "It's what?" They were very excited about it, right? I mean, it's a cool thing. I do know part of what I do now as an influencer, which I hate using that word, but it's very much a universal word that everybody knows, but that it's very much a part of what I do by kind of pushing a product that I believe in. All these celebrities, whether they're actors and musicians or athletes or whatever, are starting to have a really big sort of social presence on social media. Sometimes, I think a lot of advertisers are seeing that it's better than the actual commercial because no one's watching commercials anymore. They're on their socials. It's kind of the new way of advertising very much. Yeah. I have. Yep. To your question though, I mean, from a doctor perspective, it's very powerful when a patient comes in and says, "I heard about or I saw." It really puts the onus on the doctor to either say, "Why you're not a good candidate for that? Yeah. That's a great option. Let's try that. Let's try it. Yeah. The fact that LENZ is considering sampling makes it even better because if you had somebody like Tiffani saying, "Hey, talk to your doctor about see if you're a candidate." They come in to see me, and I can sample it as opposed to having to write a prescription. While they're waiting, they'll get a sample after we give them an eye exam. Yeah. That makes a huge difference. Yeah. Yeah. DTC, word of mouth. I love the influencers. That is what social media is, word of mouth. I mean, really, that is what it is in a commercial form almost. Yeah. So. It's, yeah, it's time-consuming. Generally, you follow people that you have interest in or have common ground in. My sort of audience on social is anywhere from 35 to 55 generally. That is my biggest. That is sort of this market. The other brand stuff that I have done in the past is very much in that realm. Yeah. Great. Anybody else? Oh, got a question in the back there. Oh, you got a microphone now. Oh. I can hear you. All right. How big of an issue is convenience to you thinking? Oh, it works. That's why I'm not in show business. How big of an issue is convenience in not choosing any of the other options available to you even though having 10 pairs of readers sounds not convenient? It's not convenient. What even kind of consideration is there for compliance if it's a once-a-day drop? Yeah. The once-a-day thing to me sounds pretty easy. I mean, and I think what's nice about it is that you kind of get to pick and choose when that inconvenience might happen for you. It allows you to use those drops on the days that you find so you don't have to use them every day, right? I like that. I like kind of being in control of that and needing that. I think some of the places, and I've mentioned some that are most inconvenient, is the sort of spontaneity of things like reading to my kid or driving somewhere and then someone, not that I use my phone while I'm driving people, but if I pull over or whatever and take an email that someone just texted me, "You got to read this. I need an answer now. I don't have my glasses with me and stuff like that. I have my phone pretty big. It is getting to a point where it is not even working anymore, sadly. Even still, in your car, if you had the phone holder. You can't see it? It's like you're not supposed to be on your phone. Yeah. You can't see it. Yeah. No, I'm doing a lot of this. Have you done stage? Have you done any Broadway shows or? No. I mean, when I was living here in New York, I was shooting a show. Generally, theaters here, we do not have a lot of theater in Los Angeles. Yeah. The Pantages. Just not. Yeah. Pantages. That's very true. The reason why I was saying that is that I was just envisioning when you're on stage and this is live, you don't have the opportunity. You're looking up at the conductor. If it's a musical, you're looking at the audience. You're looking at your actors. Yeah. I mean, I would see where that would be really challenging. Yeah. It is kind of like that even on TV shows and movie sets, same sort of thing, especially when you are in rehearsal and you are still on, you do not have your stuff memorized yet. You are learning, you are blocking or whatever, and you need the script. I have to have my glasses then. I know this isn't relevant to the presbyopia stuff, but how do you memorize all that? I can't even remember my kids' names and then I'm free. You know, I think it's a muscle. I do think it's a muscle that you have to exercise. Yeah, for sure. Impressive. Yep. Impressive. Thanks. Any other questions before we hand this off to Ave to close it all down? Oh. Yeah. Yes. Oh. He found it. That was one of them. Yeah. That was one of them. There was another haunting of Annelise or something. Yeah. What was that? Yeah. Or something. Or something like that. Thank you. I don't know. There's so many bad TV movies back in the day. Of course. Thank you. Yeah. Okay. Show is at 7:00 tonight down the street. Tickets are sold in the hallway. No, this is a great couple of hours for us. Hopefully, it was helpful for you to give us to help you get an insight into what we're building and why we're so enthusiastic about it. I've taken you through the market opportunity. It is real. There is a huge, huge opportunity out there. We've got the right product, we believe, to build that market, to build it as a category of one and really drive that launch. You have heard Marc in the first act talk about the ECPs and how enthusiastic they are and that they really see the need and the opportunity to have a different, a better solution for their patients. We have heard this time only of about three patients. I think all of them were very convincing in how they were talking about their experience with the product. The stuff works. If I think again about what Dina was saying, she was skeptical initially, like, "How can a drop work?" We've heard that many times. People use it. It goes, "Wow, you know what? This actually works." 95% of patients said at least two lines, 70% three lines in half an hour. It works even better than what they imagined. We have something real here. We have a very clear plan for commercialization with the right team and the right people and the right stuff behind it. We can't wait for that PDUFA day that, again, we have a lot of confidence is going to come on August 8. With that, I want to thank first and foremost because you usually see the four, five, or six of us. There is obviously a whole team behind us. I think we are up to 60 or so now. We are hiring another 90. You can all do the math. We are going to be 150+ in the next three or four months. Those are the people that are currently working with the FDA on our submission, with the manufacturing, all the support functions, making sure that the company does what it is about to do. A big thank you for that team that I know is watching. Thank you to all of you here for joining us. Again, really pleasure to have you all here. We are going to be hanging around. I think we have a not your old-fashioned miotic cocktail or something like that. Hopefully, you hang around. We're going to be here answering questions. Again, thank you all for being with us here today. Thanks.