Surrozen's CFO and COO sells $20,513 in stock

Charles O. Williams, the Chief Financial Officer and Chief Operating Officer of Surrozen, Inc. (NASDAQ:SRZN), recently sold shares of the company. According to a filing with the Securities and Exchange Commission, Williams sold 1,181 shares of Surrozen's common stock on January 3, 2025, at an average price of $17.37 per share. The transaction totaled $20,513. The sale occurred near the stock's 52-week high of $18.17, with the company currently valued at approximately $55 million. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.

Additionally, on January 2, 2025, Williams acquired 3,500 shares of Surrozen's common stock through the settlement of vested restricted stock units (RSUs). Following these transactions, Williams now holds 8,982 shares of the company. The sales were made to cover withholding taxes upon the vesting of RSUs, as initiated by the issuer on Williams' behalf. InvestingPro data shows the stock has delivered impressive returns, with a 44% gain over the past six months. Subscribers can access 10+ additional ProTips and comprehensive financial metrics to better understand Surrozen's market position.

In other recent news, Surrozen Inc. has entered into a research collaboration with TCGFB, Inc., aiming to discover antibody therapeutics for idiopathic pulmonary fibrosis. The agreement includes Surrozen providing antibody discovery services over two years, with TCGFB retaining all related intellectual property. The terms of the partnership involve TCGFB compensating Surrozen up to $6 million and granting a warrant for up to 3,380,000 shares of TCGFB common stock.

In other developments, Surrozen has extended its South San Francisco headquarters lease through April 2029, demonstrating its commitment to maintaining its operations in the area. The company also continues to make progress in its partnership with Boehringer Ingelheim, advancing the development of SZN-413, a bi-specific antibody aimed at treating retinal vascular diseases. This progress is based on successful joint research, with Surrozen slated to receive a $10 million payment as per their agreement.

Additionally, Surrozen has announced the resignation of board member Tim Kutzkey, Ph.D., and reported positive preclinical data for its antibody-based Wnt mimetic technologies. The company also successfully completed a Phase 1a clinical trial for its drug candidate SZN-043. Lastly, Surrozen secured an initial $17.5 million in funding through a private placement agreement, with the potential for up to $175 million more upon warrant exercises. These events are part of the recent developments in Surrozen's ongoing operations and research efforts.

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