Surrozen, Inc. announced fourth quarter and full year 2025 financial results, reporting a full year net loss of $242.0 million or ($32.37) per share compared to $63.6 million or ($21.67) per share in 2024, driven by non-cash losses on PIPE transactions. Cash and equivalents were $89.2 million as of December 31, 2025, with pipeline progress including a planned IND submission for SZN-8141 in H2 2026.
Key takeaways
Full year 2025 net loss $242.0 million ($32.37 per share) vs $63.6 million ($21.67 per share) in 2024
Q4 2025 net loss $183.2 million ($20.13 per share) vs $28.0 million ($8.62 per share) in Q4 2024
Cash and cash equivalents $89.2 million as of December 31, 2025
No collaboration and license revenue in 2025 vs $10.0 million in 2024
R&D expenses $29.4 million in 2025 vs $21.1 million in 2024
IND application for SZN-8141 planned for second half of 2026
$5.0 million milestone payment from Boehringer Ingelheim for SZN-413