(Reuters) – Lenz Therapeutics said on Wednesday its experimental drugs to treat loss of near vision met the main goal of a late-stage study, sending its shares up nearly 23% before the bell.

The company said it has identified one of the drugs, LNZ100, as its lead product candidate as it showed statistically significant improvement in patients’ ability to see details at a distance of 20 feet at three hours post-treatment.

The other drug, LNZ101, also showed similar results but did not show superiority to LNZ100, the San Diego, California-based company said.

Lenz plans to submit a marketing application for LNZ100 in the United States in mid-2024.

(Reporting by Sneha S K in Bengaluru; Editing by Shilpi Majumdar)

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