Surrozen, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:17 pm
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Surrozen, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 10.45 million compared to USD 13.36 million a year ago. Basic loss per share from continuing operations was USD 5.1 compared to USD 5.7 a year ago.
For the nine months, net loss was USD 34.13 million compared to USD 35.23 million a year ago. Basic loss per share from continuing operations was USD 16.95 compared to USD 15.15 a year ago.
Surrozen, Inc. is a clinical-stage biotechnology company. The Company is engaged in discovering and developing drug candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair, in a range of organs and tissues. The Company is developing tissue-specific antibodies designed to engage the bodyâs existing biological repair mechanisms with a current focus on severe liver and eye diseases. Its two lead product candidates include SZN-043 and SZN-413. SZN-043 is the first development candidate using Surrozenâs SWEETS technology. It is developing SZN-043 for severe liver diseases, initially focusing on alcohol-associated hepatitis. It has completed a Phase I a clinical trial in patients with chronic liver disease and healthy volunteers. SZN-413 is a bi-specific antibody targeting Fzd4-mediated Wnt signaling designed using Surrozenâs SWAP technology. SZN-413 is being developed for the treatment of retinal vascular-associated diseases.