Surrozen Inc.
SRZN evidence brief
What we can confirm
- BioSniper Score:
- 3.5 / 10
- Market Cap:
- $223.3M
- Lead Asset:
- szn-043 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for SRZN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SRZN
Surrozen Inc. (SRZN) is a biotechnology company focused on developing Wnt-pathway-based therapeutics for ophthalmic diseases, with lead candidates SZN-8141 and SZN-8143 targeting retinal vascular conditions and a partnership with Boehringer Ingelheim for SZN-413.
Key risk: Negative equity and accumulated losses
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 1 clinical trial · 1 catalyst for Surrozen Inc..
Surrozen Inc. (SRZN) is a biotechnology company focused on developing Wnt-pathway-based therapeutics for ophthalmic diseases, with lead candidates SZN-8141 and SZN-8143 targeting retinal vascular conditions and a partnership with Boehringer Ingelheim for SZN-413.
- Surrozen reported cash & equivalents of $102.0M, total revenue of $5.0M, net income of $50.2M, and shareholders' equity of -$218.7M as of 2026-06-30 [sec].
- The company received FDA clearance for its IND application for SZN-8141 on October 2, 2026, enabling clinical development for diabetic macular edema [news · 2026-10-02].
- Boehringer Ingelheim achieved a research milestone for SZN-413 in March 2026, triggering a $5.0 million payment to Surrozen, following a $10.0 million milestone in September 2024 [sec_mda · as of 2026-05-06].
- Surrozen expects to present retinal vascular research on SZN-8141 at the 2026 ARVO Annual Meeting and has scheduled a Phase 1 trial start for SZN-8141 on 2026-10-30 [news · 2026-03-23] [catalyst].
- The company has incurred net losses since inception, with an accumulated deficit of $604.6 million as of 2026-08-06 [sec_mda · as of 2026-08-06].
What works
- Surrozen has a partnership with Boehringer Ingelheim for SZN-413, which has already generated $15.0 million in milestone payments, indicating external validation of its platform [sec_mda · as of 2026-05-06].
- The company has a cash position of $102.0M as of 2026-06-30, which management believes is sufficient to fund operations for at least 12 months, with potential additional $95.1M from a PIPE upon IND clearance [sec] [sec_mda · as of 2026-08-06].
- Surrozen has advanced two lead candidates (SZN-8141 and SZN-8143) in retinal vascular disease, with SZN-8141 receiving FDA IND clearance and entering clinical development [news · 2026-10-02].
What to weigh
- Surrozen has a negative shareholders' equity of -$218.7M and an accumulated deficit of $604.6M, reflecting sustained net losses since inception [sec] [sec_mda · as of 2026-08-06].
- The company's future capital requirements are uncertain and depend on multiple factors including clinical trial costs, regulatory approvals, and milestone payments, with a risk of using available capital sooner than expected [sec_mda · as of 2026-08-06].
- Surrozen's revenue is minimal ($5.0M as of 2026-06-30) and primarily from milestone payments, with no approved products generating commercial sales [sec].
From the filings
Quoted directly from source documents.
FDA clearance of IND for SZN-8141
“On October 2, 2026, Surrozen, Inc. (Surrozen) announced U.S. Food and Drug Administration (FDA) clearance of our Investigational New Drug (IND) application for SZN-8141”
News · October 2, 2026
Boehringer Ingelheim milestone payment of $5.0 million
“In March 2026, Boehringer Ingelheim achieved a research milestone, reflecting a positive outcome of the IND-enabling GLP toxicology study. We received the research milestone payment of $5.0 million from Boehringer Ingelheim in April 2026.”
SEC MD&A · May 6, 2026
Accumulated deficit of $604.6 million
“deficit of $604.6 million.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2026-10-30 · Phase1_Start — First-in-human trial to evaluate safety, tolerability, PK, PD, and clinical outcomes of SZN-8141 in diabetic macular edema.
Risks & what to watch (3)›
Key risks
- Negative equity and accumulated losses — Shareholders' equity of -$218.7M and accumulated deficit of $604.6M indicate sustained financial losses since inception [sec] [sec_mda · as of 2026-08-06].
- Uncertain capital runway — Future funding depends on clinical progress, regulatory outcomes, and milestones; risk of using capital sooner than expected [sec_mda · as of 2026-08-06].
- Minimal revenue and no approved products — Revenue of $5.0M is milestone-based; no commercial sales from approved products [sec].
What to watch
- Phase 1 trial start for SZN-8141 in diabetic macular edema on 2026-10-30 [catalyst].
- Presentation of retinal vascular research on SZN-8141 at the 2026 ARVO Annual Meeting [news · 2026-03-23].
- Potential receipt of $95.1M from the second closing of the 2025 PIPE, contingent on IND clearance before October 31, 2026 [sec_mda · as of 2026-08-06].
- Progress of SZN-8143 and any further milestones from the Boehringer Ingelheim collaboration [sec_mda · as of 2026-05-06].
Sources: News · SEC MD&A · Generated October 6, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
Net income $50M
Lead: Phase 1
2 candidates
1 upcoming, next in ~16d
0 buys · 5 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
58
Total value held
$274.3M
| Holder | Shares | Value |
|---|---|---|
| tcg crossover management, llc | 1,473,101 | $42.9M |
| kalehua capital management llc | 770,356 | $22.4M |
| boxer capital management, llc | 766,318 | $22.3M |
| millennium management llc | 731,138 | $21.3M |
| stempoint capital lp | 721,620 | $19.2M |
| venrock adviser, llc | 632,931 | $18.4M |
| spruce street capital lp | 432,040 | $12.6M |
| braidwell lp | 396,100 | $11.5M |
| 5am venture management, llc | 387,500 | $11.3M |
| vestal point capital, lp | 338,611 | $9.9M |
Showing top 10 of 58 institutional holders of Surrozen Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 9.0%
- Days to cover
- 4.3
- Shares short
- 565,307
- Daily short volume (Jun 4, 2026)
- 38.3%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SRZN short interestGovernance
Frequently asked questions
What is the AI investment thesis for Surrozen Inc.?
Surrozen Inc. (SRZN) is a biotechnology company focused on developing Wnt-pathway-based therapeutics for ophthalmic diseases, with lead candidates SZN-8141 and SZN-8143 targeting retinal vascular conditions and a partnership with Boehringer Ingelheim for SZN-413.
What is Surrozen Inc.'s lead drug candidate?
Surrozen Inc.'s most advanced tracked candidate is szn-043 (Phase 1) for severe alcohol-associated hepatitis.
What is Surrozen Inc.'s next catalyst?
Surrozen Inc.'s next tracked catalyst is a Phase1_Start event — "Phase1_Start: A First-in-human, Prospective Trial to Evaluate Safety, Tolerability, Pharmacokinetics, Pharmacodynamics, and Clinical Outcomes of SZN-8141 in Diabetic Macular Edema" — expected October 30, 2026.
Who is the CEO of Surrozen Inc.?
Mr. Craig C. Parker M.B.A. is the chief executive officer of Surrozen Inc. (SRZN).
Where is Surrozen Inc. headquartered?
Surrozen Inc. (SRZN) is headquartered in South San Francisco, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.