Surrozen, Inc.
- Open
- 22.92
- Day high
- 22.99
- Day low
- 22.20
- Prev close
- 22.60
- Volume
- 64K
- Mkt cap
- $266M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -1.2
- P/S
- 23.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.5M over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
Surrozen, Inc. (SRZN) is a Healthcare company listed on NASDAQ. The stock is up 77% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Surrozen, Inc. (SRZN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SRZN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $-1.29 | $-0.41 | +68.2% | $5M | +970.1% |
| May 6, 2026 | $-1.39 | $-4.63 | -233.1% | $5M | +25.0% |
| Mar 23, 2026 | $-1.41 | $-7.59 | -438.3% | $528000 | -20.1% |
| Nov 7, 2025 | $-1.17 | $-3.61 | -208.5% | $983000 | — |
| Aug 8, 2025 | $-1.23 | $-1.14 | +7.3% | $983000 | — |
| May 9, 2025 | $-1.09 | $-3.13 | -187.2% | $983000 | — |
| Mar 31, 2025 | $-2.54 | $-9.10 | -258.3% | $655000 | — |
| May 8, 2024 | $-4.25 | $-4.24 | +0.2% | — | — |
| May 10, 2023 | $-5.10 | $-7.20 | -41.2% | — | — |
| Mar 22, 2023 | $-6.75 | $-0.45 | +93.3% | $13M | — |
| Nov 14, 2022 | $-6.45 | $-5.70 | +11.6% | — | — |
| Aug 11, 2022 | $-6.90 | $-6.00 | +13.0% | — | — |
SRZN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 24, 2026 | TCG Crossover GP II, LLC10 percent owner | Sell | 162,500 | $21.25 |
| Jun 16, 2026 | Williams Charles Oofficer: Chief Operating Officer | Grant | 1,666 | $8.11 |
| Jun 16, 2026 | Parker Craig Cdirector, officer: Chief Executive Officer | Grant | 1,622 | $8.11 |
| Jun 16, 2026 | Maleki Andrew Pedrumofficer: Chief Financial Officer | Grant | 607 | $19.01 |
| Jun 16, 2026 | Li Yangofficer: Exec. Vice President, Research | Grant | 1,666 | $8.11 |
| May 19, 2026 | Kutzkey Timdirector, 10 percent owner: | Grant | 5,550 | $30.14 |
| May 14, 2026 | CHAI CHRISTOPHER Ydirector | Grant | 5,550 | $30.14 |
| May 14, 2026 | BJERKHOLT ERICdirector | Grant | 5,550 | $30.14 |
| May 14, 2026 | Berkenblit Annadirector | Grant | 5,550 | $30.14 |
| May 14, 2026 | Rothenberg Macedirector | Grant | 5,550 | $30.14 |
| May 14, 2026 | WOODHOUSE DAVID Jdirector | Grant | 5,550 | $30.14 |
| May 14, 2026 | Haak-Frendscho Marydirector | Grant | 5,550 | $30.14 |
| May 5, 2026 | Williams Charles Oofficer: Chief Operating Officer | Option | 5,625 | — |
| May 5, 2026 | Williams Charles Oofficer: Chief Operating Officer | Sell | 2,036 | $33.33 |
| May 5, 2026 | Parker Craig Cdirector, officer: Chief Executive Officer | Option | 12,500 | — |
Source: SRZN SEC Form 4 filings, latest Jul 24, 2026. For informational purposes only — not investment advice.
See the full SRZN insider & 13F page →Surrozen, Inc. company profile
Overview
Surrozen, Inc. (NASDAQ:SRZN) is a biotechnology company founded in 2015 and headquartered in South San Francisco, California. The company went public in January 2021 and focuses on discovering and developing drug candidates that selectively modulate the Wnt signaling pathway for tissue repair and regeneration. Surrozen represents a specialized approach to regenerative medicine, targeting various organ systems including the liver, intestines, retina, and other tissues through its proprietary antibody-based therapeutics.
Business
Surrozen operates in the biotechnology sector, specifically focusing on regenerative medicine through Wnt pathway modulation. The Wnt signaling pathway is a fundamental cellular communication system that plays a crucial role in tissue development, maintenance, and repair throughout the body. When this pathway functions properly, it helps tissues regenerate naturally after injury or damage. However, in many diseases, this regenerative capacity becomes impaired. The company develops tissue-specific antibodies designed to restore or enhance the body's natural regenerative processes. These antibodies work by either mimicking natural regenerative signals or directly modulating the Wnt pathway in specific tissues. This approach allows for targeted treatment that can potentially repair damaged organs rather than simply managing symptoms. Surrozen's pipeline includes two primary clinical programs. SZN-043 is a tissue-specific R-spondin mimetic being developed for severe liver disease, particularly severe alcoholic hepatitis. R-spondins are naturally occurring proteins that enhance Wnt signaling and promote tissue regeneration. SZN-1326 is a bi-specific antibody targeting inflammatory bowel disease, specifically ulcerative colitis, by directly modulating Wnt signaling in intestinal tissue. The company also has research partnerships, including a collaboration with Boehringer Ingelberg on SZN-413 for retinal diseases, and ongoing research programs targeting corneal regeneration, lacrimal gland function, and other organ systems.
Revenue model
Surrozen operates primarily as a research and development-focused biotechnology company with minimal current revenue generation. The company's business model is built around developing proprietary therapeutics through clinical trials with the ultimate goal of commercializing approved drugs or licensing its technology to pharmaceutical partners. Current revenue sources are limited and irregular, consisting mainly of collaboration agreements and research partnerships. In 2024, the company generated $10.7 million in revenue, with a significant portion likely coming from its partnership with Boehringer Ingelberg. However, revenue has been inconsistent, ranging from zero in some quarters to $10 million in Q3 2024. The company's future revenue model will depend on successfully advancing its clinical programs to approval and commercialization. Potential revenue streams include direct product sales of approved therapeutics, licensing fees from pharmaceutical partners, milestone payments during development phases, and royalties from commercialized products developed by partners. Several factors could significantly impact Surrozen's financial performance. Clinical trial success or failure represents the primary risk, as both lead programs have experienced safety issues with transaminase elevations. Regulatory approval timelines affect the speed at which the company can generate meaningful revenue. Competition from other regenerative medicine approaches or traditional treatments could impact market potential. Additionally, the company's cash burn rate and ability to secure additional funding will determine its ability to continue operations and complete clinical development programs.
Competitive moat
Surrozen's competitive moat appears relatively narrow at this stage of development. The company's primary potential advantage lies in its specialized expertise in Wnt pathway modulation and its proprietary antibody platform technology. The Wnt signaling pathway is complex and not well understood by many biotechnology companies, potentially giving Surrozen some technical expertise advantages. However, the company faces significant competitive challenges. The regenerative medicine field is highly competitive, with numerous companies pursuing various approaches to tissue repair and organ regeneration. Large pharmaceutical companies have substantially more resources for research and development, and many are also exploring regenerative medicine approaches. Additionally, established treatments for liver disease and inflammatory bowel disease already exist, creating a high bar for demonstrating superior efficacy. The company's intellectual property portfolio around its specific antibody designs and Wnt pathway modulation techniques could provide some protection, but biotechnology patents can be challenging to defend and may be worked around by competitors. Furthermore, both of Surrozen's lead clinical programs have encountered safety issues with liver enzyme elevations, which could indicate fundamental challenges with the approach that competitors might be able to solve more effectively. Given the early stage of clinical development and the safety concerns that have emerged, Surrozen's moat should be considered weak to moderate, with the company's future success heavily dependent on successfully resolving safety issues and demonstrating clear therapeutic benefits over existing treatments.
Risks & safety
Surrozen presents a mixed margin of safety profile typical of early-stage biotechnology companies, with strong liquidity but significant ongoing losses. **Liquidity and Solvency:** - Strong cash position of $101.6 million as of Q1 2025, providing substantial runway - Current ratio of 10.0 indicates excellent short-term liquidity - Quarterly cash burn averaging $9-17 million suggests approximately 1.5-2 years of runway at current spending levels - No significant debt burden **Valuation Concerns:** - Market cap of approximately $73 million represents a modest premium to cash position - Negative earnings across all periods make traditional valuation metrics less meaningful - Price-to-book ratio of 7.5 suggests premium valuation relative to tangible assets **Risk Factors:** - Consistent operating losses with no clear path to profitability in near term - Clinical programs have encountered safety issues requiring modified approaches - Revenue generation remains minimal and inconsistent - High dependency on successful clinical trial outcomes for future viability
Recent development
Over the past few years, Surrozen has focused on advancing its two lead clinical programs while managing safety challenges that emerged during Phase I trials. Both SZN-043 for severe liver disease and SZN-1326 for inflammatory bowel disease experienced transaminase elevation issues, prompting the company to implement modified dosing strategies and restructure operations to prioritize R&D investments. The company has adopted a more cautious approach to clinical development, implementing MABEL (Minimal Anticipated Biological Effect Level) dosing strategies for SZN-1326 and focusing on dose-response relationships in diseased tissue. For SZN-043, the company has shifted focus toward chronic liver disease patients with fibrosis rather than the most severe cases initially targeted. Surrozen has also strengthened its partnership strategy, maintaining its collaboration with Boehringer Ingelberg on SZN-413 for retinal diseases, which could provide milestone payments and validation of the platform technology. The company has implemented cost reduction measures, including a 15% reduction in operating expenses, to extend its cash runway while continuing clinical development. Recent quarters have shown some revenue generation from partnerships, suggesting the company is successfully monetizing its research collaborations while advancing its proprietary programs. The focus has shifted toward achieving proof-of-concept data in the second half of 2024 and planning Phase Ib trials for both lead programs.
SRZN company profile · for informational purposes only — not investment advice.
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