Surrozen, Inc./DE
Business
Surrozen is a biotechnology company discovering and developing antibody-based product candidates that selectively modulate the Wnt signaling pathway to treat serious ophthalmic diseases. The company's lead programs include SZN-8141 and SZN-8143, bispecific antibodies combining Wnt pathway agonism with anti-VEGF and anti-IL-6 mechanisms for diabetic macular edema, wet age-related macular degeneration, and uveitic macular edema. Surrozen also has a collaboration with Boehringer Ingelheim for SZN-413 development and maintains research programs targeting corneal and retinal indications. The company operates primarily in the United States with a focus on developing clinical-stage therapeutic candidates.
Summary from 10-K filed 2026-03-23
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 3 | 11 | 0 | 13 | 0 | |
| Total Revenue | 3 | 11 | 0 | — | — | |
| Research and development | 29 | 21 | 27 | 37 | 40 | |
| General and administrative | 16 | 15 | 16 | 20 | 14 | |
| Total operating expenses | 46 | 36 | 46 | 57 | 54 | |
| Loss from operations | −42 | −26 | −46 | −44 | −54 | |
| Interest income | 3 | 2 | 2 | 781,000 | 72,000 | |
| Loss on issuance of common stock, pre-funded warrants and warrants in the 2024 PIPE | 0 | −20 | — | — | — | |
| Loss on amendment and cancellation of warrants | −2 | 0 | — | — | — | |
| Loss on execution of the 2025 PIPE | −71 | 0 | — | — | — | |
| Loss on change in fair value of tranche liability | −105 | 0 | — | — | — | |
| Gain on settlement of tranche liability | 1 | 0 | — | — | — | |
| Other expense, net | −26 | −19 | 398,000 | 8 | −329,000 | |
| Net loss and comprehensive loss | −242 | −64 | −43 | −36 | −55 | |
| Net loss per share attributable to common stockholders, basic | −32.37 | −21.67 | −21.33 | −15.56 | −2.21 | |
| Net loss per share attributable to common Stockholders, diluted | −32.37 | −21.67 | −21.33 | −15.56 | −2.21 | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic | 7,478 | 2,933 | 2,018 | 2,314 | 24,689 | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted | 7,478 | 2,933 | 2,018 | 2,314 | 24,689 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-11-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 89 | 35 | 36 | 25 | — | |
| Accounts receivable | 0 | 2 | 2 | 2 | — | |
| Accounts receivable - related party | 208,000 | 502,000 | 0 | — | — | |
| Prepaid expenses and other current assets | 2 | 2 | 3 | 3 | — | |
| Total current assets | 92 | 39 | 41 | 81 | — | |
| Property and equipment, net | 433,000 | 562,000 | 2 | 4 | — | |
| Operating lease right-of-use assets | 6 | 8 | 2 | 3 | — | |
| Restricted cash | 688,000 | 688,000 | 688,000 | 405,000 | — | |
| Warrant asset | 0 | 153,000 | 0 | — | — | |
| Other assets | 46,000 | 331,000 | 402,000 | 827,000 | — | |
| Total assets | 99 | 48 | 46 | 89 | — | |
| Accounts payable | 728,000 | 306,000 | 525,000 | 658,000 | — | |
| Accrued and other liabilities | 8 | 5 | 4 | 7 | — | |
| Lease liabilities, current portion | 1 | 2 | 2 | 2 | — | |
| Total current liabilities | 10 | 7 | 7 | 10 | — | |
| Lease liabilities, noncurrent portion | 5 | 7 | 882,000 | 3 | — | |
| Tranche liability | 159 | 0 | — | — | — | |
| Warrant liabilities | 113 | 56 | 115,000 | 326,000 | 100,000 | |
| Total liabilities | 286 | 70 | 8 | 13 | — | |
| Commitments and contingencies (Note 5 and Note 13) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value, 10,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | — | |
| Common stock, $0.0001 par value, 500,000 shares authorized as of December 31, 2025 and 2024; 9,775 and 3,262 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 1,000 | 0 | 0 | 0 | — | |
| Additional paid-in-capital | 340 | 264 | 260 | 255 | — | |
| Accumulated deficit | −527 | −285 | −222 | −179 | — | |
| Total stockholders' deficit | −188 | −21 | 38 | 76 | — | |
| Total liabilities and stockholders' deficit | 99 | 48 | 46 | 89 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 500,000 | 1 | 2 | 2 | 2 | |
| Stock-based compensation | 4 | 4 | 4 | 5 | 2 | |
| Non-cash operating lease expense | 2 | 2 | 1 | 1 | 1 | |
| Loss on issuance of common stock, pre-funded warrants and warrants in the 2024 PIPE | 0 | 20 | 0 | — | — | |
| Transaction costs allocated to pre-funded warrants and warrants in connection with the 2025 PIPE and 2024 PIPE | 3 | 2 | 0 | — | — | |
| Change in fair value of tranche liability | 105 | 0 | — | — | — | |
| Change in fair value of warrant liabilities | 23 | 18 | −211,000 | −8 | −71,000 | |
| Loss on foreign currency remeasurement | 0 | 113,000 | −174,000 | — | — | |
| Non-cash consideration received in connection with research service revenue | −769,000 | −153,000 | — | — | — | |
| Non-cash impairment of warrant asset | 922,000 | 0 | — | — | — | |
| Accounts receivable | 2 | 0 | 0 | −2 | 0 | |
| Accounts receivable -related party | 294,000 | −502,000 | — | — | — | |
| Prepaid expenses and other current assets | −67,000 | 1 | 915,000 | −50,000 | −2 | |
| Other assets | 72,000 | 71,000 | 62,000 | −379,000 | −510,000 | |
| Accounts payable | 142,000 | −228,000 | −133,000 | −2 | 857,000 | |
| Accrued and other liabilities | 3 | 1 | −3 | −2 | 4 | |
| Operating lease liabilities | −2 | −2 | −2 | −2 | −2 | |
| Net cash used in operating activities | −30 | −18 | −40 | −44 | −49 | |
| Purchases of property and equipment | −128,000 | −26,000 | −398,000 | −728,000 | −1 | |
| Net cash (used in) provided by investing activities | −128,000 | −26,000 | 52 | 38 | −78 | |
| Proceeds from issuance of common stock | 75 | 16 | 0 | 0 | 124 | |
| Proceeds from issuance of common stock under the ATM program, net of transaction costs | 9 | 0 | — | — | — | |
| Proceeds from issuance of common stock upon exercise of warrants | 987,000 | 0 | — | — | — | |
| Proceeds from issuance of common stock upon employee stock plan purchases | 198,000 | 94,000 | 332,000 | 143,000 | 0 | |
| Proceeds from issuance of common stock upon exercise of stock options | 87,000 | 39,000 | 3,000 | 0 | 411,000 | |
| Net cash provided by financing activities | 85 | 16 | 276,000 | −3 | 125 | |
| Net (decrease) increase in cash, cash equivalents and restricted cash | 55 | −1 | 12 | −8 | −2 | |
| Increase in right-of-use assets and lease liabilities due to a lease modification | 0 | 7 | 0 | — | — | |
| Transaction costs for the 2025 PIPE included in accrued and other liabilities | 229,000 | 0 | — | — | — | |
| Purchases of equipment included in accounts payable | 280,000 | 9,000 | 0 | 85,000 | 22,000 | |
| Vesting of early exercises of stock options | 0 | 2,000 | 32,000 | 101,000 | 207,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Surrozen, Inc./DE's CIK number?
Surrozen, Inc./DE's SEC CIK number is 0001824893 (1824893). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Surrozen, Inc./DE's SEC filings?
All of Surrozen, Inc./DE's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Surrozen, Inc./DE last report earnings?
Surrozen, Inc./DE (SRZN) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-208999). This is Surrozen, Inc./DE's most recent earnings filing of record — not a forecast of its next earnings date.
What is Surrozen, Inc./DE's most recent earnings 8-K?
Surrozen, Inc./DE's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001193125-26-208999. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Surrozen, Inc./DE's latest earnings 8-K →
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