Surrozen, Inc./DE SRZN
We are a biotechnology company committed to discovering and developing product candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair. Our current strategic focus is ophthalmology, where Wnt signaling plays a central role in retinal vascular integrity, barrier function, and tissue maintenance. We are located in South San Francisco, California.
Our mission is to transform the treatment of serious ophthalmic disease by fully exploiting the Wnt pathway. Building upon the seminal work of our founders and scientific advisors who discovered the Wnt gene and key regulators of the Wnt pathway, we have made breakthrough discoveries that we believe will overcome previous limitations in harnessing the potential of Wnt biology in a tissue-selective manner. These breakthroughs enable us to rapidly and flexibly design tissue-targeted therapeutics that modulate Wnt signaling and form the foundation of our ophthalmology portfolio and research programs, which are designed to restore tissue structure and function in serious eye diseases with high unmet medical need.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.5M | $10.7M | $0 | $12.5M | $0 | — | — |
| R&D | $29.4M | $21.1M | $27.2M | $37.0M | $40.2M | $25.7M | — |
| SG&A | $16.2M | $15.1M | $15.8M | $19.8M | $14.2M | $7.1M | — |
| Total operating expenses | $45.6M | $36.2M | $45.8M | $56.8M | $54.4M | $32.8M | — |
| Operating income | -$42.1M | -$25.5M | -$45.8M | -$44.3M | -$54.4M | -$32.8M | — |
| Pre-tax income | -$242.0M | -$63.6M | -$43.0M | -$36.0M | -$54.6M | -$32.7M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$242.0M | -$63.6M | -$43.0M | -$36.0M | -$54.6M | -$32.7M | — |
| EPS, basic | -32.37 | -21.67 | -21.33 | -15.56 | -2.21 | — | — |
| EPS, diluted | -32.37 | -21.67 | -21.33 | -15.56 | -2.21 | — | — |
| Shares, diluted (wtd. avg.) | $7.5K | $2.9K | $2.0K | $2.3K | $24.7K | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $89.2M | $34.6M | $36.7M | $25.1M | $33.5M | $35.4M | $29.5M |
| Short-term investments | — | — | $0 | $51.1M | $68.8M | $16.4M | — |
| Receivables | $0 | $2.0M | $2.2M | $2.0M | $0 | — | — |
| Total current assets | $91.6M | $38.9M | $41.1M | $81.3M | $105.2M | $50.2M | — |
| Property, plant and equipment | $433.0K | $562.0K | $2.0M | $3.6M | $4.8M | $5.8M | — |
| Total assets | $98.7M | $48.5M | $46.1M | $89.4M | $137.2M | $62.1M | — |
| Accounts payable | $728.0K | $306.0K | $525.0K | $658.0K | $2.7M | $1.8M | — |
| Total current liabilities | $9.9M | $7.3M | $7.1M | $9.7M | $13.6M | $7.3M | — |
| Total liabilities | $286.5M | $69.8M | $8.1M | $13.4M | $27.5M | $14.8M | — |
| Retained earnings | -$527.3M | -$285.3M | -$221.7M | -$178.7M | -$142.6M | -$88.0M | — |
| Total equity | -$187.8M | -$21.4M | $37.9M | $76.0M | $109.7M | $47.3M | $29.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30.2M | -$17.6M | -$40.4M | -$44.1M | -$48.8M | -$29.1M | — |
| Stock-based compensation | $3.8M | $4.1M | $4.4M | $4.5M | $2.3M | $635.0K | — |
| Capital expenditure | $128.0K | $26.0K | $398.0K | $728.0K | $1.3M | $874.0K | — |
| Investing cash flow | -$128.0K | -$26.0K | $51.7M | $38.3M | -$77.7M | -$15.1M | — |
| Financing cash flow | $85.1M | $16.2M | $276.0K | -$2.6M | $124.6M | $50.1M | — |
| Buybacks | — | — | $0 | $2.6M | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-119818.
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