Surrozen, Inc./DE
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
SRZN$32.64+2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts)
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2026 | 2025 | 2026 | 2025 | |
| Collaboration and license revenue | $— | $— | $10,000 | $— |
| Research service revenue – related party | — | 983 | — | 2,949 |
| Total revenue | — | 983 | 10,000 | 2,949 |
| Operating expenses: | ||||
| Research and development | 10,837 | 7,774 | 28,649 | 20,374 |
| General and administrative | 6,805 | 4,094 | 19,819 | 12,028 |
| Total operating expenses | 17,642 | 11,868 | 48,468 | 32,402 |
| Loss from operations | (17,642) | (10,885) | (38,468) | (29,453) |
| Interest income | 912 | 911 | 2,762 | 2,232 |
| Loss on amendment and cancellation of warrants | — | — | — | (2,073) |
| Loss on execution of the 2025 PIPE | — | — | — | (71,084) |
| Gain (loss) on change in fair value of tranche liability | (73,853) | (40,748) | (111,460) | 7,112 |
| Gain on settlement of tranche liability | — | — | — | 1,117 |
| Other income (expense), net (Note 3) | (39,141) | (20,921) | (59,886) | 33,282 |
| Net loss and comprehensive loss | $(129,724) | $(71,643) | $(207,052) | $(58,867) |
| Net loss per share attributable to common stockholders, basic and diluted | $(11.02) | $(8.36) | $(18.06) | $(8.49) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 11,774 | 8,571 | 11,465 | 6,931 |
Condensed Consolidated Statements of Stockholders’ Deficit
| Additional · Total | |||||
|---|---|---|---|---|---|
| Common stock · paid-in · Accumulated · stockholders’ | |||||
| Shares | Amount | capital | deficit | deficit | |
| Balance at December 31, 2025 | 9,775 | $1 | $339,522 | $(527,285) | $(187,762) |
| Issuance of common stock under the ATM program | 1,400 | — | 26,858 | — | 26,858 |
| Issuance of common stock upon warrant exercise | 289 | — | 8,065 | — | 8,065 |
| Issuance of common stock upon option exercises | 8 | — | 92 | — | 92 |
| Vesting of restricted stock units | 18 | — | — | — | — |
| Stock-based compensation expense | — | — | 2,105 | — | 2,105 |
| Net loss | — | — | — | (127,505) | (127,505) |
| Balance at March 31, 2026 | 11,490 | 1 | 376,642 | (654,790) | (278,147) |
| Issuance of common stock upon warrant exercise | 191 | — | 6,107 | — | 6,107 |
| Issuance of common stock upon option exercises | 6 | — | 91 | — | 91 |
| Issuance of common stock under employee stock purchase plan | 21 | — | 214 | — | 214 |
| Vesting of restricted stock units | 46 | — | — | — | — |
| Stock-based compensation expense | — | — | 2,893 | — | 2,893 |
| Net income | — | — | — | 50,177 | 50,177 |
| Balance at June 30, 2026 | 11,754 | 1 | 385,947 | (604,613) | (218,665) |
| Issuance of common stock upon warrant exercise | 274 | — | 9,840 | — | 9,840 |
| Stock-based compensation expense | — | — | 2,927 | — | 2,927 |
| Net loss | — | — | — | (129,724) | (129,724) |
| Balance at September 30, 2026 | 12,028 | $1 | $398,714 | $(734,337) | $(335,622) |
Condensed Consolidated Statements of Stockholders’ Equity (Deficit)
| Additional · Total | |||||
|---|---|---|---|---|---|
| Common stock · paid-in · Accumulated · stockholders’ | |||||
| Shares | Amount | capital | deficit | equity (deficit) | |
| Balance at December 31, 2024 | 3,262 | $— | $263,879 | $(285,259) | $(21,380) |
| Issuance of common stock in the 2025 PIPE | 5,213 | 1 | 53,189 | — | 53,190 |
| Vesting of restricted stock units | 20 | — | — | — | — |
| Stock-based compensation expense | — | — | 834 | — | 834 |
| Net loss | — | — | — | (26,970) | (26,970) |
| Balance at March 31, 2025 | 8,495 | 1 | 317,902 | (312,229) | 5,674 |
| Issuance of common stock under employee stock purchase plan | 7 | — | 61 | — | 61 |
| Issuance of common stock upon warrant exercise | 68 | — | 677 | — | 677 |
| Issuance costs for the 2025 PIPE | — | — | (38) | — | (38) |
| Stock-based compensation expense | — | — | 994 | — | 994 |
| Net income | — | — | — | 39,746 | 39,746 |
| Balance at June 30, 2025 | 8,570 | 1 | 319,596 | (272,483) | 47,114 |
| Issuance of common stock upon option exercises | 1 | — | 9 | — | 9 |
| Stock-based compensation expense | — | — | 1,005 | — | 1,005 |
| Net loss | — | — | — | (71,643) | (71,643) |
| Balance at September 30, 2025 | 8,571 | $1 | $320,610 | $(344,126) | $(23,515) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.