Quarterly ResultMay 6, 2026, 04:22 PM
Surrozen Q1 Net Loss $127.5M; Cash $106.9M; SZN-8141 IND on Track
AI Summary
Surrozen, Inc. reported a net loss of $127.5 million for the first quarter ended March 31, 2026, significantly higher than the $27.0 million loss in Q1 2025. Despite the increased loss, the company's cash and cash equivalents rose to $106.9 million, partly due to a $5.0 million milestone payment from Boehringer Ingelheim. Surrozen also announced it remains on track to submit an Investigational New Drug (IND) application for its lead candidate SZN-8141 in the second half of 2026, following positive preclinical efficacy data presentations.
Key Highlights
- Net loss for Q1 2026 was $127.5 million, compared to $27.0 million in Q1 2025.
- Cash and cash equivalents totaled $106.9 million as of March 31, 2026.
- Collaboration and license revenue was $5.0 million for Q1 2026, from a Boehringer Ingelheim milestone.
- Research and development expenses increased to $9.3 million in Q1 2026 from $6.6 million in Q1 2025.
- General and administrative expenses rose to $6.1 million in Q1 2026 from $4.0 million in Q1 2025.
- Company is on track to submit an IND application for SZN-8141 in the second half of 2026.
- Preclinical efficacy of SZN-8141 was presented at the 2026 ARVO meeting.