Lenz drops nearly 30% after FDA’s FAERS finds retinal tear

Shares of Lenz Therapeutics (LENZ) dropped after a case of retinal tear surfaced inn the FDA’s adverse-event database known as FAERS. The company, which develops eye drugs, recently released its first commercial product VIZZ for the treatment of age-related blurry vision, and was seeking to avoid launch struggles seen with AbbVie’s (ABBV) Vuity. In an emailed statement to Bloomberg News, Lenz said the patient did not receive a retinal exam prior to using VIZZ and also had a history of retinal disease. The company also said that the event was quickly treated, the patient is doing well, and “nothing here changes our overall safety expectations for VIZZ.” Shares of Lenz are down nearly 30% in afternoon trading.