In a recent transaction reported to the Securities and Exchange Commission, Li Yang, Executive Vice President of Research at Surrozen, Inc. (NASDAQ:SRZN), sold 843 shares of common stock. The shares were sold at an average price of $17.37 per share, totaling $14,642. This sale was executed to cover withholding taxes upon the vesting of restricted stock units (RSUs). Following this transaction, Yang holds 13,345 shares directly. The transaction comes as Surrozen, currently valued at $55.3 million, has seen its stock surge 44% over the past six months. InvestingPro data shows analysts maintain a Strong Buy rating with significant upside potential.
Additionally, Yang was involved in a transaction on January 2, 2025, where 2,500 shares of common stock were acquired through the settlement of vested RSUs. This transaction did not involve any cash exchange, as each RSU represents the right to receive one share of Surrozen’s common stock. According to InvestingPro, the company maintains a GOOD overall financial health score, with 10+ additional insights available to subscribers.
In other recent news, biotechnology firm Surrozen Inc. has been actively involved in several significant developments. The company has entered a research collaboration with TCGFB, Inc., with the aim of discovering antibody therapeutics for idiopathic pulmonary fibrosis, a severe lung condition. The terms of the partnership involve Surrozen providing antibody discovery services over two years, with TCGFB retaining all related intellectual property. In return, TCGFB will compensate Surrozen up to $6 million and grant a warrant for up to 3,380,000 shares of TCGFB common stock.
Simultaneously, Surrozen has extended its South San Francisco headquarters lease through April 2029, reflecting its commitment to maintain operations in the area. The company is also progressing in its partnership with Boehringer Ingelheim, with the successful development of SZN-413, a bi-specific antibody targeted at treating retinal vascular diseases. This progress has triggered a $10 million payment to Surrozen as per their agreement.
The company recently announced the resignation of board member Tim Kutzkey, Ph.D., and reported positive preclinical data for its antibody-based Wnt mimetic technologies. Additionally, Surrozen has successfully completed a Phase 1a clinical trial for its drug candidate SZN-043. The company also 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 are recent developments in Surrozen’s ongoing operations and research efforts.
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