Surrozen, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 11, 2022 at 04:16 pm EDT
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Surrozen, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net loss was USD 7.95 million compared to USD 13.02 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.72 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.