Matthew Caufield, an analyst from H.C. Wainwright, reiterated the Buy rating on Surrozen. The associated price target remains the same with $32.00.
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Matthew Caufield has given his Buy rating due to a combination of factors related to Surrozen’s promising advancements in the Wnt pathway for retinal disease treatment. The company’s progress towards the anticipated 2026 IND submission for their Norrin mimetic and anti-VEGF fusion molecule, SZN-8141, is seen as a significant catalyst. This molecule, along with SZN-8143, which targets interleukin-6, represents innovative approaches to retinal vascular repair and regeneration.
Caufield acknowledges the early stage of these developments but is encouraged by the potential of the Wnt pathway to address limitations in current standard-of-care treatments. The ongoing preclinical work supports the potential for normal retinal vessel regrowth and the suppression of pathological growth. Additionally, the interest from major companies like Merck and Roche in similar Wnt pathway developments provides further validation of this therapeutic approach. Caufield believes that Surrozen’s focus on Wnt modulation offers a novel therapeutic direction beyond traditional anti-VEGF treatments.