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SRZNW

Surrozen, Inc.

SRZNW

Surrozen, Inc. • NASDAQ
$0.02 ▼ -2.06% (-0.00)
Market Cap $162859
52w High $0.02
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 191
Outstanding Shares 8.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $983K $11.868M ▲ $-71.643M ▼ -7.288K% ▼ $-8.36 ▼ $-71.582M ▼
Q2-2025 $983K $10M ▼ $39.746M ▲ 4.043K% ▲ $2.55 ▲ $-8.88M ▲
Q1-2025 $983K ▲ $10.534M ▲ $-26.97M ▲ -2.744K% ▲ $-7.43 ▲ $-9.257M ▼
Q4-2024 $655K ▼ $9.247M ▲ $-28.039M ▼ -4.281K% ▼ $-9 ▼ $-8.27M ▼
Q3-2024 $10M $8.768M $-1.434M -14.34% $-0.44 $1.574M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $81.335M ▼ $94.046M ▼ $117.561M ▲ $-23.515M ▼
Q2-2025 $90.39M ▼ $102.696M ▼ $55.582M ▼ $47.114M ▲
Q1-2025 $101.645M ▲ $114.829M ▲ $109.155M ▲ $5.674M ▲
Q4-2024 $34.565M ▲ $48.467M ▲ $69.847M ▲ $-21.38M ▼
Q3-2024 $31.012M $47.998M $42.331M $5.667M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-71.643M ▼ $-9.04M ▼ $-24K ▼ $9K ▲ $-9.055M ▲ $-9.064M ▼
Q2-2025 $39.746M ▲ $-6.113M ▲ $-18K ▲ $-5.124M ▼ $-11.255M ▼ $-6.131M ▲
Q1-2025 $-26.97M ▲ $-9.279M ▼ $-27K ▼ $76.386M ▲ $67.08M ▲ $-9.306M ▼
Q4-2024 $-28.039M ▼ $3.481M ▲ $-19K ▼ $91K ▲ $3.553M ▲ $3.462M ▲
Q3-2024 $-1.434M $-6.752M $0 $-1K $-6.753M $-6.752M

Revenue by Products

Product Q3-2025
Collaboration and license revenue
Collaboration and license revenue
 $0 ▲

Five-Year Company Overview

Income Statement

Income Statement Surrozen is still essentially a pre‑revenue biotech, with only tiny amounts of income to date and no commercial products. Expenses are driven by research, development, and overhead, leading to recurring operating losses each year. Losses have been fairly steady over time rather than shrinking, which reflects the ongoing cost of moving drug candidates through early clinical stages without offsetting product sales yet. The very large loss per share figures mostly reflect a small share base and accounting effects, not suddenly collapsing operations, but they underscore that this is an early‑stage, high‑spend, no‑revenue profile.

Balance Sheet

Balance Sheet The company’s asset base is small and concentrated in cash and similar items, which is typical for a lean clinical‑stage biotech without factories or large physical assets. Cash has moved up and down over time but remains limited relative to the cost of continued trials. Debt has been used sparingly, which keeps financial leverage low, but recent negative equity suggests that accumulated losses are now larger than the accounting value of net assets. That signals a thin capital cushion and a high likelihood that the company will need to raise additional funds or restructure over time to keep advancing its programs.

Cash Flow

Cash Flow Surrozen consistently consumes cash in its day‑to‑day operations, as development and overhead outflows exceed any small inflows. There is essentially no spending on big physical investments, so the main story in cash flow is the steady burn to fund R&D and corporate costs. Free cash flow is negative year after year, which is normal for a company at this stage but means its future depends on external financing—equity, partnerships, milestones, or other sources. The key risk is how long existing cash can support clinical plans before new capital is required.

Competitive Edge

Competitive Edge Scientifically, Surrozen is working in a distinctive niche: regenerating tissues by activating, rather than blocking, the Wnt pathway. Its SWAP and SWEETS platforms, backed by patents and academic expertise, give it a differentiated angle on a historically difficult biology target. The collaboration with Boehringer Ingelheim adds external validation and potential future milestones, especially for the eye‑disease program. On the other hand, the company is small, has limited financial resources, and faces intense competition from much larger biopharma players in liver, eye, and broader regenerative medicine fields. Clinical setbacks, such as a discontinued bowel‑disease program, also highlight how fragile the competitive position can be until clear human efficacy and safety are demonstrated.

Innovation and R&D

Innovation and R&D Innovation is the core of Surrozen’s value. Its antibody platforms are designed to turn on repair signals in specific tissues, aiming to actually regenerate damaged organs like the liver or retina rather than just manage symptoms. Early‑stage data for the lead liver candidate suggest the approach is biologically active and tolerated so far, and the eye program has shown promising effects in preclinical models by both reducing abnormal blood vessels and encouraging normal regrowth. At the same time, one earlier program was stopped after dosing and safety challenges, illustrating that translating complex pathway biology into safe drugs is difficult. Future progress will hinge on continued R&D execution, clear clinical readouts, and the ability to expand the platform into new diseases without overextending limited resources.

Summary

Surrozen is a classic high‑risk, science‑driven biotech: strong on ideas and intellectual property, weak so far on revenues and financial robustness. The income statement shows a company still firmly in the investment phase, with steady operating losses and no commercial products yet. The balance sheet is light, with modest cash, little debt, and negative equity, pointing to a slim margin for error and a likely need for further funding. Cash flows reflect the same story: ongoing burn to support research and trials. Competitively, Surrozen stands out through its focus on tissue‑specific Wnt activation and has backing from a major pharma partner, but it operates in a crowded, high‑stakes therapeutic landscape. Its value will largely depend on whether upcoming clinical data, especially in severe liver disease and eye conditions, can validate its platforms and attract the capital and partnerships needed to carry programs toward potential approval.