In a recent transaction reported to the Securities and Exchange Commission, Li Yang, executive vice president of research at Surrozen, Inc., sold… (NASDAQ:SRZN), 843 shares of common stock. The shares were sold at an average price of $17.37 per share, for a total of $14,642. This sale was made to cover taxes withheld upon vesting of restricted stock units (RSUs). Following this transaction, Yang now directly owns 13,345 shares. The deal comes as Surrozen, currently worth $55.3 million, has seen its shares rise 44% over the past six months. InvestingPro The data indicates that analysts maintain a strong buy rating with significant upside potential.
Additionally, Yang participated in a transaction on January 2, 2025, in which 2,500 shares of common stock were acquired through the settlement of vested RSUs. This transaction did not involve any cash exchange, with each RSU representing the right to acquire one share of Surrozen common stock. according to InvestingProThe company maintains a good score for overall financial health, with more than 10 additional insights available to subscribers.
In other recent news, biotech company Surrozen Inc. Actively involved in many important developments. The company has entered into a research collaboration with TCGFB, Inc., with the goal of discovering antibody treatments for idiopathic pulmonary fibrosis, a serious lung condition. The terms of the partnership include Surrozen providing antibody discovery services over a two-year period, with TCGFB retaining all relevant intellectual property rights. In exchange, TCGFB will compensate Surrozen up to $6 million and grant a warrant of up to 3,380,000 shares of TCGFB common stock.
Meanwhile, Surrozen has extended the lease for its South San Francisco headquarters through April 2029, reflecting its commitment to continuing operations in the region. The company is also progressing in its partnership with Boehringer Ingelheim, with the successful development of SZN-413, a bi-specific antibody targeted to treat retinal vascular diseases. This progress resulted in Surrozen being paid $10 million in accordance with their agreement.
The company recently announced the resignation of Board Member Tim Kutzky, Ph.D., and reported positive preclinical data for its antibody-based Wnt mimetic technologies. In addition, Surrozen has successfully completed the Phase 1 clinical trial of its drug candidate SZN-043. The company also secured $17.5 million in seed financing through a private placement agreement, with the potential to raise up to an additional $175 million upon exercise of warrants. These are the latest developments in Surrozen's ongoing operations and research efforts.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.
