Quarterly ResultMay 6, 2026, 04:43 PM
Surrozen Q1 Net Loss $(127.5)M; Revenue $5.0M from Milestone
AI Summary
Surrozen reported a net loss of $(127.5) million for Q1 2026, a significant increase from $(27.0) million in Q1 2025, primarily driven by non-cash changes in the fair value of tranche and warrant liabilities. The company generated $5.0 million in collaboration and license revenue from a research milestone achieved with Boehringer Ingelheim. Surrozen ended the quarter with $106.9 million in cash and cash equivalents, having raised $26.9 million through its At-the-Market (ATM) program.
Key Highlights
- Net loss for Q1 2026 was $(127.5) million, compared to $(27.0) million in Q1 2025.
- Total revenue for Q1 2026 was $5.0 million, up from $0.983 million in Q1 2025.
- Collaboration and license revenue of $5.0 million from Boehringer Ingelheim research milestone.
- Cash and cash equivalents stood at $106.9 million as of March 31, 2026.
- Accumulated deficit increased to $(654.8) million as of March 31, 2026.
- Tranche liability increased by $76.8 million to $235.5 million as of March 31, 2026.
- Warrant liabilities increased by $41.1 million to $148.9 million as of March 31, 2026.
- Net cash provided by financing activities was $30.3 million, including $26.9 million from ATM.
Price Impact
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