AI Earnings Predictions for Surrozen Inc. (SRZN)

EX-99.1

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EX-99.1

Exhibit 99.1

Surrozen Announces Closing of Second Tranche of March 2025 Private Placement for $95.1 Million

Proceeds strengthen balance sheet and provide expected cash runway into 2029 to advance SZN-8141 and SZN-8143

SOUTH SAN FRANCISCO, Calif., October 20, 2026 —Surrozen, Inc. (Surrozen or the Company) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced the closing of the second and final tranche of its March 2025 private placement of securities.

The second closing generated approximately $95.1 million in gross proceeds, before deducting placement agent fees and other offering expenses. The closing followed the achievement of the second closing milestone under the Company’s March 2025 securities purchase agreement, which was triggered by FDA clearance of the Company’s Investigational New Drug (IND) application for SZN-8141 on October 2, 2026.

"The completion of this financing marks an important milestone for Surrozen, significantly strengthening our balance sheet and providing the resources to advance our ophthalmology pipeline through multiple important clinical milestones," said Craig Parker, President and Chief Executive Officer of Surrozen. "With expected cash runway into 2029, we are well positioned to advance SZN-8141 into the DUET Phase 1b/2a study and initiate clinical development of SZN-8143, while maintaining a disciplined approach to capital allocation."

The second tranche included the issuance of approximately 5.7 million shares of common stock, pre-funded warrants exercisable for approximately 2.5 million shares of common stock, and Series E common stock warrants to purchase approximately 4.1 million shares of common stock. The Series E warrants have an exercise price of $11.54 per share. Following the closing, Surrozen has approximately 17.8 million shares of common stock outstanding, 3.8 million shares issuable upon exercise of pre-funded warrants, and 9.1 million shares issuable upon exercise of outstanding common stock warrants. Of the outstanding common stock warrants, approximately 1.8 million are exercisable for cash only and expire April 2029. The remaining approximately 7.3 million common stock warrants may

be exercised on a cash or net exercise basis and have expiration dates ranging from March 2030 to October 2031. Substantially all outstanding common stock warrants have an exercise price of $11.54 per share.

Following the closing, Surrozen expects its cash, cash equivalents and marketable securities to provide cash runway into 2029, including funding for completion of the DUET Phase 1b/2a study of SZN-8141 and initial Phase 1b clinical development of SZN-8143.

Surrozen expects to file a new registration statement on Form S-3 with the U.S. Securities and Exchange Commission to register the resale of the shares of common stock, and shares issuable upon exercise of the pre-funded warrants and Series E common stock warrants issued in the second closing. Pursuant to a registration rights agreement with the investors, Surrozen is required to file the registration statement no later than 30 calendar days following the second closing date.

About SZN-8141 for Retinal Diseases

Surrozen is developing SZN-8141 as an intravitreal injection for the treatment of DME and neovascular age-related macular degeneration (wet AMD). SZN-8141 combines Frizzled 4 (FZD4)-mediated Wnt agonism and VEGF antagonism and has the potential to provide benefits over treatment with single mechanism agents against these targets. The current standard of care for diabetic retinopathy (including DME), retinal vein occlusion and wet AMD is intravitreal administration of anti-VEGF therapies, including monotherapies and dual-pathway agents targeting VEGF and Ang-2. In addition, Merck’s remigromig, a FZD4-mediated Wnt agonist monotherapy, achieved its primary endpoint in a Phase 2b/3 clinical trial in DME, supporting the therapeutic potential of Wnt pathway activation in retinal vascular disease. The Company believes SZN-8141 has the potential to treat multiple retinopathy indications and be differentiated from existing therapies. Data generated in preclinical models of retinopathy demonstrated that SZN-8141 stimulated Wnt signaling and induced normal retinal vessel regrowth while suppressing pathological vessel growth.

About DUET

The Phase 1b/2a DUET study is designed to assess the safety, tolerability, and early signs of biological and clinical activity of SZN-8141. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and

previously treated patients with DME (Part 1), followed by a randomized, double-masked Phase 2a dose-expansion portion in treatment-naïve patients with DME (Part 2). In Part 1, patients will receive a single intravitreal injection of S

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EX-99.1

Exhibit 99.1

Surrozen Reports Second Quarter 2026 Financial Results and Provides Business Update

Planned IND submission for SZN-8141 in diabetic macular edema by the end of the third quarter of 2026

Expect to initiate SZN-8141 Phase 1b/2a study, DUET, by year-end 2026 with initial data anticipated in the second half of 2027

U.S. Patent Trial and Appeal Board denies institution of post-grant review petition challenging Surrozen patent

SOUTH SAN FRANCISCO, Calif., August 6, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced financial results for the second quarter ended June 30, 2026 and provided a business update.

“We continue to execute our strategy of building a leading ophthalmology franchise centered on the therapeutic potential of Wnt biology,” said Craig Parker, Chief Executive Officer of Surrozen. “The planned DUET Phase 1b/2a study represents an important step in the clinical development of SZN-8141 and reflects our commitment to generate meaningful evidence to guide future development across retinal vascular disease. In addition, the recent U.S. Patent Trial and Appeal Board (PTAB) decision denying the institution of Merck’s post-grant review petition reinforces our intellectual property position. Together, these advancements further strengthen the foundation of our ophthalmology franchise and support our long-term growth strategy.”

Business Highlights, Recent Developments and Upcoming Milestones

o The Company continues to advance its ophthalmology pipeline (SZN-8141 and SZN-8143) and expects to submit an Investigational New Drug (IND) application for SZN-8141 by the end of the third quarter of 2026 and initiate the DUET Phase 1b/2a study in diabetic macular edema (DME) patients by year-end 2026

o In June 2026, Boehringer Ingelheim achieved a development milestone under the SZN-413 license agreement following the initiation of a Phase 1 study

o In July 2026, the U.S. PTAB denied institution of Merck’s post-grant review petition challenging certain claims of Surrozen’s U.S. Patent No. 12,297,278, determining that the petition failed to show a reasonable likelihood of prevailing with respect to the challenged claims

DUET: Phase 1b/2a Clinical Trial in Diabetic Macular Edema

SZN-8141 will be evaluated in a Phase 1b/2a clinical trial in DME called DUET, designed to assess safety, tolerability, and early signs of biological and clinical activity. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and previously treated patients with DME (Part 1), followed by a randomized, double-masked Phase 2a dose-expansion portion in treatment-naïve patients with DME (Part 2).

In Part 1, patients will receive a single intravitreal injection of SZN-8141 and be followed for approximately three months to evaluate safety and tolerability, as well as pharmacokinetics, immunogenicity, and exploratory measures of retinal function and anatomy including best-corrected visual acuity (BCVA), optical coherence tomography (OCT), OCT angiography (OCT-A), and ultra-widefield fluorescein angiography.

Part 2 is expected to evaluate two dose levels of SZN-8141 compared with Vabysmo® (faricimab-svoa) in approximately 60 treatment-naïve patients with DME. Patients are planned to receive three monthly doses followed by an additional four-month follow-up period to assess durability of effect. Key outcome measures include the same functional and anatomic measurements as in Part 1.

DUET is anticipated to initiate by year-end 2026, with initial data expected in the second half of 2027. The Company is also planning to develop SZN-8141 in neovascular age-related macular degeneration and is evaluating development in other retinal vascular diseases.

Second Quarter 2026 Financial Highlights

- Cash Position: Cash and cash equivalents were $102.0 million as of June 30, 2026, compared to $106.9 million as of March 31, 2026.

- Revenue:

• Collaboration and License Revenue: Collaboration and license revenue was $5.0 million for the quarter ended June 30, 2026 attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim in June 2026. The Company did not have any collaboration and license revenue for the quarter ended June 30, 2025.

• Research Service Revenue – Related Party: Research service revenue from a related party was zero for the quarter ended June 30, 2026, compared to $1.0 million for the same period in 2025, driven by the termination of the research collaboration with TCGFB, Inc., effective in November 2025.

- Operating Expenses:

• Research and Development Expenses: R&D expenses were $8.5 million for the quarter ended June 30, 202

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EX-99.1

Exhibit 99.1

Surrozen Reports First Quarter 2026 Financial Results and Provides Business Update

On track to submit an Investigational New Drug application for SZN-8141 to FDA in the second half of 2026

Well-capitalized with $106.9 million in cash and cash equivalents as of March 31, 2026

SOUTH SAN FRANCISCO, Calif., May 6, 2026 (GLOBE NEWSWIRE) -- Surrozen, Inc. (“Surrozen” or the “Company”) (Nasdaq: SRZN), a biotechnology company pioneering targeted therapeutics to harness the power of Wnt signaling to address the underlying drivers of disease in sight-threatening ophthalmic conditions, today announced financial results for the first quarter ended March 31, 2026 and provided a business update.

Business Highlights

Surrozen remains focused on advancing a new generation of ophthalmology therapeutics that are built on a foundation of Wnt pathway biology. Surrozen’s pipeline leverages its Wnt biology expertise and antibody technologies to develop therapeutics targeting ophthalmic diseases with significant unmet medical needs.

Recent Events and Upcoming 2026 Milestones

o Ophthalmology Pipeline

• The Company continues to progress its lead candidates, SZN-8141 and SZN-8143, in retinal diseases and remains on track to submit an Investigational New Drug (IND) application for SZN-8141 in the second half of 2026

o Scientific Presentations Highlighting Next Generation Surrozen Wnt Therapeutics for Retinal Diseases

• The Company presented evidence of preclinical efficacy of our novel bi-functional antibody SZN-8141at its Poster Presentation during the Association for Research in Vision and Ophthalmology (2026 ARVO) in May 2026. By synergizing actions of Wnt activation and VEGF inhibition, SZN-8141 demonstrates superiority over monotherapies in

preclinical models, suggesting the potential for improved outcomes compared to current therapies such as anti-VEGF standard of care.

• The Company presented an overview of next generation Wnt therapeutics in retinal disease at the Eyecelerator meeting at 2026 ARVO.

o In March 2026, Boehringer Ingelheim achieved a research milestone under the agreement for SZN-413, reflecting a positive outcome of the IND-enabling GLP toxicology study. The Company received a $5.0 million payment from Boehringer Ingelheim in April 2026.

First Quarter 2026 Financial Highlights

- Cash Position: Cash and cash equivalents were $106.9 million as of March 31, 2026, compared to $89.2 million as of December 31, 2025.

- Revenue:

• Collaboration and License Revenue: Collaboration and license revenue was $5.0 million for the quarter ended March 31, 2026 attributable to the recognition of a milestone achieved under a collaboration and license agreement with Boehringer Ingelheim in March 2026. The Company did not have any collaboration and license revenue for the quarter ended March 31, 2025.

• Research Service Revenue – Related Party: Research service revenue from a related party was zero for the quarter ended March 31, 2026, compared to $1.0 million for the same period in 2025, driven by the termination of the research collaboration with TCGFB, Inc., effective in November 2025.

- Operating Expenses:

• Research and Development Expenses: R&D expenses were $9.3 million for the quarter ended March 31, 2026, compared to $6.6 million for the same period in 2025, primarily reflecting a $2.4 million increase in manufacturing costs, lab expenses and consulting fees for our ophthalmology programs and a $1.2 million increase in employee-related

expenses, offset by a $0.9 million decrease in clinical expenses as a result of the discontinuation of clinical development of SZN-043.

• General and Administrative Expenses: G&A expenses were $6.1 million for the quarter ended March 31, 2026, compared to $4.0 million for the same period in 2025, primarily due to a $1.1 million increase in employee-related expenses and a $1.0 million increase in professional service fees.

- Other Income and Expenses:

• Interest Income: Interest income was $0.9 million for the quarter ended March 31, 2026, compared to $0.3 million for the same period in 2025, as a result of an increase in cash and cash equivalents.

• Loss on Amendment and Cancellation of Warrants: Loss on amendment and cancellation of warrants originally issued in a private placement in 2024 was $2.1 million for the quarter ended March 31, 2025, due to the non-cash change in fair value of warrant liabilities as a result of the amendment and cancellation of warrants in March 2025. There was no such corresponding loss for the quarter ended March 31, 2026.

• Loss on Execution of the 2025 PIPE: Loss on execution of the private placement in March 2025 (2025 PIPE) was $71.1 million for the quarter ended March 31, 2025, reflecting the non-cash loss recognized upon the initial execution of the 2025 PIPE as committed proceeds from the 2025 PIPE were less than the fair value of the tranche liability recognized at contract