Surrozen, Inc. (SRZN) Bundle
A Brief History of Surrozen, Inc. (SRZN)
Foundation and Early Development
Surrozen, Inc. was founded in 2016, focusing on developing therapeutic antibodies for regenerative medicine. The company is headquartered in South San Francisco, California.
Funding and Investment
As of October 2021, Surrozen raised $85 million in a Series B financing round, with significant investments from various venture capital firms and biotechnology investors.
| Funding Round | Amount Raised | Date | Notable Investors |
|---|---|---|---|
| Seed Round | $15 million | 2016 | OrbiMed, Alexandria Venture Investments |
| Series A | $25 million | 2019 | OrbiMed, 5AM Ventures |
| Series B | $85 million | 2021 | Venrock, Cormorant Asset Management |
Initial Public Offering (IPO)
Surrozen went public on May 7, 2021, with an initial public offering (IPO) price set at $16 per share. The company raised approximately $126 million during the IPO.
| IPO Details | Price per Share | Shares Offered | Total Amount Raised |
|---|---|---|---|
| IPO Date | $16 | 7.875 million | $126 million |
Pipeline and Product Development
Surrozen's lead product candidate, SZN-043, enters clinical trials targeting tissue regeneration. The first Phase 1/2 clinical trial began in July 2021.
- Indication: Inflammatory bowel disease
- Phase: 1/2
- Expected completion: 2024
Recent Financial Performance
As of Q2 2023, Surrozen reported revenue of $3.4 million, primarily from collaboration agreements. The research and development expenses for the same period totaled $12.1 million.
| Financial Metric | Q2 2023 | Q1 2023 |
|---|---|---|
| Revenue | $3.4 million | $2.8 million |
| R&D Expenses | $12.1 million | $11.5 million |
| Net Income | ($10.5 million) | ($9.7 million) |
Strategic Collaborations
In 2022, Surrozen entered into a strategic collaboration with a major pharmaceutical company to co-develop antibodies for various disease applications, enhancing its research capabilities and market reach.
Market Position and Future Outlook
Surrozen is positioned in the biotechnology sector focusing on regenerative medicine, with a market capitalization of approximately $350 million as of October 2023. The potential for growth relies heavily on the successful development and commercialization of its pipeline products.
| Market Data | Value |
|---|---|
| Market Capitalization | $350 million |
| Stock Price (as of October 2023) | $8.75 |
| 52-week Range | $6.50 - $12.00 |
A Who Owns Surrozen, Inc. (SRZN)
Current Ownership Structure
As of the latest filings and data available, the ownership structure of Surrozen, Inc. (SRZN) can be summarized as follows:
| Shareholder | Ownership Percentage | Shares Owned | Type of Ownership |
|---|---|---|---|
| BlackRock, Inc. | 9.5% | 1,500,000 | Institutional Investor |
| The Vanguard Group, Inc. | 7.2% | 1,100,000 | Institutional Investor |
| New Enterprise Associates | 12.1% | 1,900,000 | Venture Capital |
| RTW Investments, LP | 10.3% | 1,600,000 | Institutional Investor |
| Company Insiders | 15.4% | 2,400,000 | Insider Ownership |
| Public Float | 45.5% | 7,000,000 | Public Shareholders |
Institutional Ownership
Institutional ownership plays a significant role in the financial stability and governance of Surrozen, Inc. The data shows several institutional investors holding substantial shares:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 1,500,000 | 9.5% |
| The Vanguard Group, Inc. | 1,100,000 | 7.2% |
| RTW Investments, LP | 1,600,000 | 10.3% |
| State Street Corporation | 900,000 | 5.8% |
| Wellington Management Co. LLP | 750,000 | 4.9% |
Insider Transactions
In the past year, insider trading has shown notable patterns. The following transactions highlight key movements:
| Insider Name | Position | Shares Bought | Shares Sold | Transaction Date |
|---|---|---|---|---|
| Dr. Craig A. Decker | Chief Executive Officer | 200,000 | 0 | March 15, 2023 |
| Dr. Elizabeth E. Brehm | Chief Scientific Officer | 50,000 | 10,000 | June 10, 2023 |
| Mr. William A. McKenzie | Chief Financial Officer | 0 | 30,000 | August 5, 2023 |
Recent Financial Performance
Surrozen, Inc. has shown varying financial metrics over the last quarters:
| Quarter | Revenue (in million $) | Net Loss (in million $) | EPS ($) |
|---|---|---|---|
| Q1 2023 | 5.2 | (10.4) | (0.42) |
| Q2 2023 | 6.1 | (8.7) | (0.36) |
| Q3 2023 | 4.8 | (9.3) | (0.38) |
Market Capitalization
The market capitalization of Surrozen, Inc. fluctuates based on stock price performance:
| Date | Stock Price ($) | Market Capitalization (in billion $) |
|---|---|---|
| October 1, 2023 | 21.00 | 0.82 |
| September 1, 2023 | 18.50 | 0.74 |
| August 1, 2023 | 22.50 | 0.88 |
Future Outlook
Analysts predict potential growth in the coming quarters based on recent developments and pipeline advancements. Investors are closely monitoring these trends.
Surrozen, Inc. (SRZN) Mission Statement
Company Overview
Surrozen, Inc. is a biotechnology company focusing on the development of innovative therapeutics for treating various diseases, particularly those with significant unmet medical needs. The company's mission emphasizes advancing its proprietary technology platform to generate groundbreaking treatments.
Core Mission Statement
The mission statement of Surrozen, Inc. reflects its commitment to transforming the landscape of medicine through:
- Innovative discovery and development of therapeutics.
- A focus on precision medicine.
- Addressing serious diseases with high unmet medical need.
- Building strategic partnerships to enhance research and development.
Key Objectives
Surrozen aims to:
- Develop novel treatments for various diseases, especially those related to the immune system.
- Achieve significant advancements in clinical research through rigorous scientific inquiry.
- Expand its pipeline with multiple drug candidates.
- Engage in robust collaboration with academic and industry partners.
Recent Financial Performance
As of the end of Q3 2023, Surrozen's financial metrics include:
| Metric | Value |
|---|---|
| Total Revenue | $5.8 million |
| Net Loss | $(12.4) million |
| Cash and Cash Equivalents | $37.2 million |
| R&D Expenses | $8.3 million |
| Operating Expenses | $11.0 million |
Strategic Focus Areas
Surrozen’s mission is underpinned by its strategic focus on several key areas, including:
- Development of Sorrento-1, a therapeutic candidate in the oncology space.
- Exploration of partnerships for accelerated drug development.
- Investment in advanced research technologies for more efficient R&D processes.
Market Position and Competitors
Surrozen operates in a competitive landscape characterized by:
| Company | Market Cap (as of Q3 2023) |
|---|---|
| Surrozen, Inc. | $152 million |
| Competing Biotech Firm A | $300 million |
| Competing Biotech Firm B | $250 million |
| Competing Biotech Firm C | $175 million |
Future Directions
Looking ahead, Surrozen plans to:
- Continue clinical trials for key drug candidates.
- Enhance its research pipeline through strategic investments.
- Seek new collaborations for expanding therapeutic offerings.
How Surrozen, Inc. (SRZN) Works
Corporate Overview
Surrozen, Inc. (SRZN) is a biotechnology company focused on developing therapeutic agents to treat various diseases through its proprietary platform technology.
Business Model
The company's business model revolves around leveraging its antibody-based therapies and proprietary platform technology to create a new class of drugs that utilize targeted tissue-specific modulation. This allows for a more precise therapeutic approach, potentially reducing side effects.
Research and Development Pipeline
Surrozen has several programs in its pipeline, including:
- SUR-201 for inflammatory bowel disease
- SUR-202 for kidney diseases
- SUR-203 for muscle disorders
| Program | Indication | Stage of Development | Projected Clinical Trial Start Date |
|---|---|---|---|
| SUR-201 | Inflammatory Bowel Disease | Phase 1 | Q1 2024 |
| SUR-202 | Kidney Diseases | Preclinical | Q2 2024 |
| SUR-203 | Muscle Disorders | Preclinical | Q3 2024 |
Financial Performance
As of the third quarter of 2023, Surrozen reported the following financial data:
| Financial Metric | Amount (Q3 2023) |
|---|---|
| Total Revenue | $1.5 million |
| Net Loss | ($8.2 million) |
| Cash and Cash Equivalents | $45 million |
| R&D Expenses | $6 million |
Market Position
Surrozen, Inc. operates within a competitive landscape of biotechnology firms. As of October 2023, its market capitalization stands at approximately $120 million.
Stock Performance
The stock performance for Surrozen (SRZN) highlights volatility typical in biotech companies:
| Metric | Value |
|---|---|
| Current Share Price | $2.50 |
| 52-Week Range | $1.50 - $4.00 |
| Volume (Average) | 250,000 shares |
| Dividend Yield | 0% |
Collaborations and Partnerships
Surrozen has engaged in various collaborations to enhance its R&D capabilities:
- Partnership with major pharmaceutical companies for shared research initiatives.
- Collaboration with leading academic institutions for innovative research.
Future Outlook
Surrozen aims to advance its clinical trials and expand its portfolio. The anticipated product launches and ongoing collaborations hold potential for future revenue generation.
How Surrozen, Inc. (SRZN) Makes Money
Licensing Agreements
Surrozen, Inc. generates significant revenue through strategic licensing agreements. As of 2023, the company has entered into multiple collaborations with major pharmaceutical firms.
| Year | Partner | Deal Value (in millions) | Milestone Payments (in millions) |
|---|---|---|---|
| 2021 | Amgen | $30 | $15 |
| 2022 | AbbVie | $25 | $10 |
| 2023 | Novartis | $40 | $20 |
Product Development Revenue
Surrozen focuses on developing novel therapeutics, particularly in the field of regenerative medicine. The company reported projected revenues from product development.
| Product Candidate | Phase of Development | Projected Annual Revenue (in millions) |
|---|---|---|
| SRZ-201 | Phase 1 | $50 |
| SRZ-301 | Phase 2 | $75 |
| SRZ-401 | Preclinical | $20 |
Grants and Funding
Surrozen has also secured funding through government and private grants aimed at advancing specific research projects.
| Year | Grant Source | Amount (in millions) | Purpose |
|---|---|---|---|
| 2021 | NIH | $5 | Research in regenerative medicine |
| 2022 | Private Foundation | $8 | Oncology research |
| 2023 | State Grant | $3 | Stem cell research initiatives |
Investment Income
In addition to direct revenue streams, Surrozen has reported investment income derived from its financial portfolio.
| Year | Investment Type | Income (in millions) |
|---|---|---|
| 2021 | Equity Investments | $2 |
| 2022 | Bond Investments | $1.5 |
| 2023 | Venture Capital Investments | $3 |
Collaborative Research
Collaborations with academic institutions and research organizations are another source of income for Surrozen, providing access to additional funding and resources.
| Year | Partner | Funding Received (in millions) |
|---|---|---|
| 2021 | University of California | $2 |
| 2022 | Stanford University | $4 |
| 2023 | Harvard University | $5 |
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