Surrozen Inc (SRZN)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$25.48-1.05%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Surrozen Inc’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	475,000
EPS	—	-0.866
Annual ending 2026-12-31
Revenue	—	10.74M
EPS	—	-7.015
Annual ending 2027-12-31
Revenue	—	1.5M
EPS	—	-3.611

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
EPS improves toward breakeven	A primary condition in Surrozen Inc's published investment case. The stated target is EPS improves to > -1.0 next 4 quarters.	Improving	EPS remains below -1.0 next 4 quarters	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Advancement of antibody therapeutics pipeline	A primary condition in Surrozen Inc's published investment case. The stated target is Positive clinical trial results or regulatory milestones in next 12 months.	Intact	Failure to achieve key clinical or regulatory milestones in 12 months	FDA IND clearance achieved for SZN-8141 FDA cleared SZN-8141 IND application on Oct 2, 2026, enabling clinical development advancement. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth stabilizes or improves	A supporting condition in Surrozen Inc's published investment case. The stated target is Revenue growth >= 0% FY27.	Intact	Revenue declines below $3.5M FY27	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenue$0.00B

Unavailable → $0.00B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	3 / 2
2026-07-25	Unavailable	Unavailable	3 / 2
2026-07-26	Unavailable	Unavailable	3 / 2
2026-07-27	Unavailable	Unavailable	3 / 2
2026-07-28	Unavailable	Unavailable	3 / 2
2026-07-29	Unavailable	Unavailable	3 / 2
2026-07-30	Unavailable	Unavailable	3 / 2
2026-07-31	Unavailable	Unavailable	2 / 1
2026-08-01	Unavailable	Unavailable	3 / 2
2026-08-02	Unavailable	Unavailable	2 / 1
2026-08-03	Unavailable	Unavailable	3 / 2
2026-08-04	Unavailable	Unavailable	2 / 1
2026-08-05	Unavailable	Unavailable	3 / 2
2026-08-06	Unavailable	Unavailable	2 / 1
2026-08-08	Unavailable	Unavailable	3 / 2
2026-08-09	Unavailable	Unavailable	2 / 3
2026-08-10	Unavailable	Unavailable	2 / 3
2026-08-12	Unavailable	Unavailable	3 / 2
2026-08-13	Unavailable	Unavailable	3 / 2
2026-08-14	Unavailable	Unavailable	3 / 2
2026-08-15	Unavailable	Unavailable	3 / 2
2026-08-16	Unavailable	Unavailable	3 / 4
2026-08-17	Unavailable	Unavailable	3 / 4
2026-08-18	Unavailable	Unavailable	3 / 4
2026-08-19	Unavailable	Unavailable	3 / 4
2026-08-20	Unavailable	Unavailable	3 / 4
2026-08-21	Unavailable	Unavailable	3 / 4
2026-08-22	Unavailable	Unavailable	3 / 4
2026-08-23	Unavailable	$1,869,250	4 / 5
2026-08-24	Unavailable	$1,869,250	4 / 5
2026-08-25	Unavailable	$1,869,250	4 / 5
2026-08-26	Unavailable	$1,869,250	4 / 5
2026-08-27	Unavailable	$1,869,250	4 / 5
2026-08-28	Unavailable	$1,869,250	4 / 5
2026-08-29	Unavailable	$1,869,250	4 / 5
2026-08-30	Unavailable	$1,869,250	4 / 5
2026-08-31	Unavailable	$1,869,250	4 / 5
2026-09-01	Unavailable	$1,869,250	4 / 5
2026-09-02	Unavailable	$1,869,250	4 / 5
2026-09-03	Unavailable	$1,869,250	4 / 5
2026-09-04	Unavailable	$1,869,250	4 / 5
2026-09-05	Unavailable	$1,869,250	4 / 5
2026-09-06	Unavailable	$1,869,250	4 / 5
2026-09-07	Unavailable	$1,869,250	4 / 5
2026-09-08	Unavailable	$1,869,250	4 / 5
2026-09-09	Unavailable	$1,869,250	4 / 5
2026-09-10	Unavailable	$1,495,400	4 / 5
2026-09-11	Unavailable	$1,495,400	4 / 5
2026-09-12	Unavailable	$1,495,400	4 / 5
2026-09-13	Unavailable	$1,495,400	4 / 5
2026-09-14	Unavailable	$1,495,400	4 / 5
2026-09-15	Unavailable	$1,495,400	4 / 5
2026-09-16	Unavailable	$1,495,400	4 / 5
2026-09-17	Unavailable	$1,495,400	4 / 5
2026-09-18	Unavailable	$1,495,400	4 / 5
2026-09-19	Unavailable	$1,495,400	4 / 5
2026-09-20	Unavailable	$1,495,400	4 / 5
2026-09-21	Unavailable	$1,495,400	4 / 5
2026-09-22	Unavailable	$1,495,400	4 / 5
2026-09-23	Unavailable	$1,495,400	4 / 5
2026-09-24	Unavailable	$1,495,400	4 / 5
2026-09-25	Unavailable	$1,495,400	4 / 5
2026-09-26	Unavailable	$1,500,000	4 / 5
2026-09-27	Unavailable	$1,500,000	4 / 5
2026-09-28	Unavailable	$1,500,000	4 / 5
2026-09-29	Unavailable	$1,500,000	4 / 5
2026-09-30	Unavailable	$1,500,000	4 / 5
2026-10-01	Unavailable	$1,500,000	4 / 5
2026-10-02	Unavailable	$1,500,000	4 / 5
2026-10-03	Unavailable	$1,500,000	4 / 5
2026-10-04	Unavailable	$1,500,000	4 / 5
2026-10-05	Unavailable	$1,500,000	4 / 5
2026-10-06	Unavailable	$1,500,000	4 / 5
2026-10-07	Unavailable	$1,500,000	4 / 5
2026-10-08	Unavailable	$1,500,000	4 / 5
2026-10-09	Unavailable	$1,500,000	4 / 5
2026-10-10	Unavailable	$1,500,000	4 / 5
2026-10-11	Unavailable	$1,500,000	4 / 5
2026-10-12	Unavailable	$1,500,000	4 / 5
2026-10-13	Unavailable	$1,500,000	4 / 5
2026-10-14	Unavailable	$1,500,000	4 / 5
2026-10-15	Unavailable	$1,500,000	4 / 5
2026-10-16	Unavailable	$1,500,000	4 / 5
2026-10-17	Unavailable	$1,500,000	4 / 5
2026-10-18	Unavailable	$1,500,000	4 / 5
2026-10-19	Unavailable	$1,500,000	4 / 5
2026-10-20	Unavailable	$1,500,000	4 / 5
2026-10-21	Unavailable	$1,500,000	4 / 5
2026-10-22	Unavailable	$1,500,000	4 / 5
2026-10-23	Unavailable	$1,500,000	4 / 5
2026-10-24	Unavailable	$1,500,000	4 / 5

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	5	0	0
2026-06-01	5	0	0
2026-07-01	5	0	0
2026-08-01	6	0	0
2026-09-01	6	0	0
2026-10-01	6	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

H.C. WainwrightSep 25 · prior May 7

$44.00 → $54.00+22.7%

$0$29.70$59.40

1 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

EPS improves toward breakevenDirect metric needs a verified mapping
Revenue growth stabilizes or improvesDirect metric needs a verified mapping

Next proof point

Nov 6, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.1%Typical daily move · historical

Downside history

-52.6%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Surrozen Inc outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a speculative clinical-stage biotechnology business, not an established earnings compounder. The SZN-8141 IND clearance is tangible progress, but the broader clinical work is still ahead and the current thesis state is watch.

What's priced into Surrozen Inc

The available valuation model indicates SRZN is expensive versus peers, with expectations partly tied to pipeline optionality, meaning potential value from future development. The expectations gap is elevated, but confidence in that reading is low, and the evidence does not show the full combination of expensive valuation, weak fundamentals, and turbulence as already priced in.

What the fundamentals likely do

Near term, funding for planned studies has improved: the October financing raised gross proceeds of $95.1 million, and management expects runway into 2029. SZN-8141 received FDA IND clearance on October 2, while starting clinical studies remains a plan; the company remains loss-making, and recent earnings have been erratic despite an October 20 reported beat. The next-quarter miss risk is elevated, and confidence in the overall evidence has fallen to low.

What Surrozen Inc hinges on

Over the multi-year view, the central question is whether SRZN can turn pipeline milestones into sustained clinical progress while maintaining funding through planned studies. Near-term sector support could help if VRTX, REGN, and MRNA keep reporting strong results, while weaker jobs data or deteriorating results from those companies could weaken the sector backdrop.