Core Insights - Surrozen, Inc. is making significant progress in its clinical trials, particularly with SZN-043 for severe alcohol-associated hepatitis, with proof-of-concept data expected in the first half of 2025 [1][3][17] - The company has also expanded its research pipeline with new preclinical ophthalmology product candidates and received a $10 million milestone payment from Boehringer Ingelheim for the development of SZN-413 [1][9][10] Research and Development Pipeline Highlights - SZN-043 is currently in a Phase 1b trial for severe alcohol-associated hepatitis, with enrollment ongoing across nine sites in five countries [3][17] - Initial results from the first cohort of the Phase 1b trial showed no serious adverse events and potential clinical benefits, including reductions in bilirubin and MELD scores [4][5][17] - Surrozen has nominated a portfolio of novel ophthalmology candidates targeting Fzd4, leveraging its expertise in antibody engineering [5][9] Financial Performance - As of September 30, 2024, Surrozen reported cash and cash equivalents of $31.0 million, down from $37.8 million as of June 30, 2024 [11] - Collaboration and license revenue for Q3 2024 was $10 million, a significant increase from zero in the same period of 2023, attributed to the milestone payment from Boehringer Ingelheim [12] - Research and development expenses decreased to $5.2 million in Q3 2024 from $6.1 million in Q3 2023, reflecting a restructuring to focus on clinical programs [13] Corporate Updates - Surrozen entered a strategic partnership with Boehringer Ingelheim in Q4 2022 for the development of SZN-413, which has now progressed to further development and clinical testing [9][19] - A new research collaboration with TCGFB was announced to discover antibody therapeutics targeting TGF-β, with potential payments to Surrozen of up to $6 million [10]
Surrozen Provides Third Quarter 2024 Financial Results and Business Update