Surrozen Q1 net loss $8.8M; cash $27.3M; SZN-043 Phase 1b enrollment starts Q2 2024

Surrozen, Inc./DE

2024-Q1 EPS reported -$4.24

Cash $27.3M at Mar 31; proforma $43.2M after April financing. Net loss $8.8M vs $14.3M YoY.
R&D expense $5.2M (down 36% YoY); G&A $3.9M (down 26% YoY) reflecting 2023 restructuring.
SZN-043 Phase 1a completed; Phase 1b enrollment to begin Q2 2024; proof-of-concept data expected H1 2025.
Potential $10M milestone from Boehringer Ingelheim if lead Fzd-4 Wnt agonist candidate nominated in 2024.
Preclinical data at ARVO on Wnt mimetic for corneal dystrophies; publication on pulmonary fibrosis in Respiratory Research.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Surrozen, Inc./DE reported the quarter ended March 31, 2024 results: net income $8.8 million.

Period: the quarter ended March 31, 2024
Net income: $8.8 million
Result: reported results

Exact text from the filing

Net loss for the first quarter ended March 31, 2024 was $8.8 million, as compared to $14.3 million for the same period in 2023.

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Source: SEC EDGAR

accession 0000950170-24-055667

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