SRZN Stock — Surrozen Inc.: Cash, EV, Pipeline

Share price

$16.55

Market cap

$194.5M

Cash

$102.0M

Enterprise value

$92.5M

Balance sheet

Cash	$102.0M
Debt	$0.0M
Net cash	$102.0M
Enterprise value	$92.5M
Basic shares	11.8M shares
Fully diluted shares	26.0M shares
Fully diluted market cap	$429.7M
Cash per share	$8.65

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Oct 12 - Nov 23	SZN-8141 for Injection	Phase 1	Diabetic Macular Edema (DME)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

SZN-8141

Preclinical · Active Modality: antibody (Wnt signaling agonist)

Target Wnt pathway

Indications

diabetic macular edema (DME) (Phase 1)

Catalysts

— Q3 2026
— end of 2026

Status note Stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth in preclinical retinopathy models. DUET trial: open-label Phase 1b single-ascending-dose portion (Part 1, treatment-naive and previously treated DME) followed by randomized double-masked Phase 2a dose expansion (Part 2, treatment-naive DME).

Fzd4 program (Boehringer Ingelheim collaboration)

Phase 1 · Active Modality: antibody (bispecific)

Target Fzd4

Partnerships Boehringer Ingelheim (collaboration and license agreement, Oct 2022; research, develop, commercialize Fzd4 bi-specific antibodies)

Status note Boehringer Ingelheim initiated a Phase 1 study in June 2026, triggering a $5.0 million milestone payment to Surrozen. Indication not stated in excerpts.

SZN-043

Stage not disclosed · Terminated Modality: antibody

Status note Clinical development discontinued in Q1 2025.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	SZN-8141 for Injection
Lead indication	Diabetic Macular Edema (DME)
Lead phase	Phase 1
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07817121	Phase 1	Not yet recruiting	Sponsor	SRZN	—	Diabetic Macular Edema (DME)	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Surrozen Operating, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Braidwell LP	390,753	-5,347	0.38%	2026-08-14
ADAR1 Capital Management	0	-12,000	0.00%	2026-08-14
Ikarian Capital	0	-173,107	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

SRZN — Surrozen Inc.