As of December 31, 2025, Surrozen had cash and cash equivalents of $89.2 million, an increase from $34.6 million at the end of 2024. The company also received net proceeds of $26.9 million from sales of common stock in January 2026 and $3.3 million from warrant exercises in February and March 2026. Surrozen's collaboration and license revenue was notably absent in 2025, down from $10.0 million in 2024, reflecting the timing of milestone achievements under its agreements.
In terms of operational updates, Surrozen is advancing its lead candidates, SZN-8141 and SZN-8143, targeting retinal diseases. The company expects to submit an Investigational New Drug (IND) application for SZN-8141 in the second half of 2026. Additionally, Surrozen announced the achievement of a research milestone by Boehringer Ingelheim for SZN-413, which will trigger a $5 million milestone payment to Surrozen.
The company has also strengthened its leadership team in 2025, appointing industry veterans to key roles to support its long-term strategy in ophthalmology. Surrozen's focus remains on leveraging its expertise in Wnt signaling to develop innovative therapies that address significant unmet medical needs in ocular diseases. The upcoming 2026 ARVO Annual Meeting will feature presentations on their research, further highlighting their commitment to advancing ophthalmic therapeutics.
