Surrozen (SRZN) AI Stock Analysis

• Market Cap: $154.29M
• Dividend Yield: N/A
• Average Volume (3M): 25.24K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.25
• Revenue Growth: -63.96%
• EPS Growth: -28.50%
• Country: US
• Employees: 40
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -8.36
• Shares Outstanding: 8,571,421
• 10 Day Avg. Volume: 29,706
• 30 Day Avg. Volume: 25,240
• PEG Ratio: -0.42
• Price to Book (P/B): -1.97
• Price to Sales (P/S): 3.95
• P/FCF Ratio: -2.38
• Enterprise Value/Market Cap: -0.04
• Enterprise Value/Revenue: -1.81
• Enterprise Value/Gross Profit: -1.81
• Enterprise Value/Ebitda: 0.07
• 1Y Price Target: $36.67
• Price Target Upside: 77.58% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $22.00 ▲(6.54% Upside)

The score is held down primarily by weak financial performance (sharp revenue contraction, deep ongoing losses, persistent cash burn, and negative equity). Technicals provide the main offset with a strong uptrend and supportive momentum, while valuation remains constrained by loss-making fundamentals and no dividend yield data.

Positive Factors

Liquidity Improvement

The private placement deal provides significant liquidity, enhancing Surrozen's ability to fund R&D and operational activities, crucial for long-term growth.

Management Expertise

The appointment of Tim Kutzkey adds valuable biotechnology and venture capital expertise to the board, potentially improving strategic decision-making and business development.

Regenerative Medicine Focus

Surrozen's focus on regenerative medicine positions it well in a growing industry, addressing unmet medical needs with innovative therapeutic solutions.

Negative Factors

Consistent Losses

Ongoing financial losses indicate operational inefficiencies and challenge the company's ability to achieve profitability, impacting long-term sustainability.

Weak Balance Sheet

A weak balance sheet with negative equity suggests financial instability, limiting Surrozen's capacity to invest in growth and withstand economic downturns.

Negative Cash Flow

Negative cash flow indicates inefficiencies in operations, requiring better cash management to ensure long-term viability and support growth initiatives.

Surrozen Business Overview & Revenue Model

Company Description

Surrozen, Inc., a biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair and regeneration. It is developing tissue-specific antibodies with application across various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system. Its products in pipeline include SZN-043 a tissue-specific R-spondin mimetic for the treatment of severe liver disease; and SZN-1326, a bi-specific full-length human antibody that directly modulates Wnt signaling in target tissue by binding to particular Frizzled and LRP receptors that are expressed in intestinal crypts. Surrozen, Inc. was founded in 2015 and is headquartered in South San Francisco, California.

How the Company Makes Money

Surrozen makes money primarily through the development and commercialization of its proprietary therapeutic candidates. The company's revenue model includes potential income from licensing agreements, collaborations, and partnerships with other pharmaceutical companies. These partnerships can provide upfront payments, milestone payments based on the achievement of specific development goals, and royalties from product sales if the therapeutics are successfully brought to market. Additionally, Surrozen may secure funding through grants and research collaborations that support its ongoing research and development efforts.

Surrozen Financial Statement Overview

Summary

Surrozen is facing significant financial challenges. Despite some revenue in 2024, the company is experiencing consistent losses and cash burn. The balance sheet shows weakening equity and a concerning liability position. The company must focus on achieving sustainable revenue growth, controlling costs, and improving cash flow management to stabilize its financial position.

Income Statement

Surrozen's income statement reveals a challenging financial trajectory. The company has seen fluctuating revenue, with a return to positive revenue in 2024, though still at a modest level. The gross profit margin is positive for 2024, but the net profit margin remains deeply negative due to significant losses. EBIT and EBITDA margins are also negative, indicating ongoing operational challenges. Consistent losses highlight the need for revenue growth and cost management.

Balance Sheet

The balance sheet shows a concerning financial position with negative stockholders' equity in 2024, indicating potential insolvency risks. The debt-to-equity ratio cannot be calculated due to negative equity, but the presence of debt and liabilities is notable. The equity position has deteriorated significantly over time, and the high level of liabilities relative to assets suggests financial instability.

Cash Flow

Cash flow analysis reveals a negative operating cash flow, which, while improved from prior periods, still indicates cash burn. Free cash flow remains negative, though the company has managed financing activities to maintain liquidity. The operating cash flow to net income ratio suggests inefficiencies in converting income to cash, while the free cash flow to net income ratio remains unfavorable.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.60M	10.65M	0.00	12.50M	0.00	0.00
Gross Profit	3.60M	10.65M	-27.23M	9.23M	-3.30M	-2.93M
EBITDA	-97.99M	-24.10M	-41.13M	-42.38M	-51.35M	-31.37M
Net Income	-86.91M	-63.56M	-43.04M	-36.00M	-52.51M	-32.63M
Balance Sheet
Total Assets	94.05M	48.47M	46.08M	89.44M	137.17M	62.06M
Cash, Cash Equivalents and Short-Term Investments	81.33M	34.56M	36.04M	75.84M	101.85M	49.18M
Total Debt	7.08M	8.47M	3.38M	5.60M	7.79M	9.60M
Total Liabilities	117.56M	69.85M	8.14M	13.43M	27.47M	14.77M
Stockholders Equity	-23.52M	-21.38M	37.94M	76.00M	109.70M	47.29M
Cash Flow
Free Cash Flow	-21.04M	-17.65M	-40.76M	-44.87M	-50.08M	-29.97M
Operating Cash Flow	-20.95M	-17.63M	-40.36M	-44.15M	-48.81M	-29.10M
Investing Cash Flow	-88.00K	-26.00K	51.72M	38.31M	-77.71M	-15.07M
Financing Cash Flow	71.36M	16.18M	276.00K	-2.56M	124.63M	50.05M

Surrozen Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.65
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRZN, the sentiment is Positive. The current price of 20.65 is below the 20-day moving average (MA) of 21.08, above the 50-day MA of 17.79, and above the 200-day MA of 12.26, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 53.21 is Neutral, neither overbought nor oversold. The STOCH value of 29.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SRZN.

Surrozen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STTK	53 Neutral	$290.45M	-4.42	-57.84%	―	-84.46%	33.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OVID	51 Neutral	$114.65M	-3.23	-60.06%	―	946.61%	-11.30%
SRZN	50 Neutral	$154.29M	-0.95	―	―	-63.96%	-28.50%
IRD	49 Neutral	$141.38M	-1.25	-338.75%	―	74.60%	-58.14%
SPRB	45 Neutral	$83.27M	-0.96	-167.93%	―	-90.18%	-17.93%
BMEA	45 Neutral	$103.23M	-0.64	-209.00%	―	―	40.22%

Surrozen Corporate Events

Surrozen Appoints Andrew Maleki as New CFO

On November 6, 2025, Surrozen appointed Andrew Maleki as Chief Financial Officer, effective November 12, 2025. Maleki, with a strong background in corporate development and program leadership in the biotech industry, is expected to enhance Surrozen’s strategic capabilities and support its long-term growth. The company also reported its third-quarter financial results, highlighting a net loss of $71.6 million, increased research and development expenses, and a focus on advancing its ophthalmology pipeline. Surrozen continues to progress its lead candidates, SZN-8141 and SZN-8143, in retinal diseases, aiming to submit an IND application for SZN-8141 in 2026.

The most recent analyst rating on (SRZN) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Surrozen stock, see the SRZN Stock Forecast page.

Surrozen’s Collaboration Agreement with TCGFB Terminated

On October 14, 2025, Surrozen, Inc. was informed by TCGFB, Inc. of the termination of their Collaboration Agreement, effective November 13, 2025. The agreement, established on October 31, 2024, involved Surrozen providing antibody discovery services, while TCGFB managed the intellectual property related to TGF-β products. The termination, executed for convenience, incurs no penalties for either party. Surrozen was to receive up to $6 million and a warrant for TCGFB shares under certain conditions. This agreement was a related party transaction due to shared affiliations with The Column Group.

The most recent analyst rating on (SRZN) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Surrozen stock, see the SRZN Stock Forecast page.