SCHEDULE 13G: Perceptive Advisors and Affiliates Disclose 5.1% Passive Stake in Surrozen, Inc.

Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. have jointly reported a 5.1% beneficial ownership stake in Surrozen, Inc.'s common stock as of December 31, 2024.

Summary

• The filing reports beneficial ownership of 166,666 shares of Surrozen, Inc. Common Stock by Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. (collectively, the "Reporting Persons").
• This ownership represents 5.1% of Surrozen, Inc.'s outstanding Common Stock.
• The percentage is calculated based on 3,249,798 outstanding shares of Common Stock, as reported in Surrozen, Inc.'s Quarterly Report on Form 10-Q filed with the SEC on November 6, 2024.
• Perceptive Life Sciences Master Fund, Ltd. directly holds the 166,666 shares.
• Perceptive Advisors LLC serves as the investment manager to the Master Fund and is deemed to beneficially own the shares.
• Joseph Edelman, as the managing member of Perceptive Advisors LLC, is also deemed to beneficially own the shares.
• The Reporting Persons have shared voting power and shared dispositive power over all 166,666 shares.
• The securities were acquired and are held for investment purposes and not for the purpose of changing or influencing the control of Surrozen, Inc.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a passive beneficial ownership stake by a prominent life sciences investor, indicating continued institutional interest in Surrozen, Inc. without suggesting any immediate strategic changes or performance implications.

Positives

• The disclosure of a 5.1% stake by Perceptive Advisors, a prominent investment firm specializing in life sciences, may signal institutional confidence in Surrozen, Inc.'s prospects.
• The filing explicitly states the shares were not acquired for the purpose of changing or influencing control, indicating a passive investment strategy.

Risks

• The document does not detail specific risks related to Surrozen, Inc.'s operations or financial performance, as it is a beneficial ownership report focused on an investor's stake.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance from Surrozen, Inc. or the Reporting Persons regarding the issuer's future performance or strategic direction.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

Perceptive Advisors is a well-known investment firm with a strong focus on the life sciences sector. Their reported 5.1% stake in Surrozen, Inc., a biotechnology company, aligns with their established investment strategy and indicates continued institutional interest in the biotech industry, particularly in companies like Surrozen that may be in development or early commercialization phases.

Comparison to Industry Standards

• This Schedule 13G filing is a standard regulatory disclosure for an entity or group acquiring beneficial ownership of more than 5% of a public company's stock, indicating a passive investment intent.
• The reported 5.1% stake is a significant, but not controlling, position, consistent with a typical institutional portfolio allocation in the biotechnology sector.
• The document does not provide specific comparable companies, projects, or results for direct industry performance assessment, as its primary purpose is to disclose ownership.

Stakeholder Impact

• Shareholders: Increased transparency regarding significant institutional ownership. The presence of a reputable life sciences investor like Perceptive Advisors could be viewed positively, potentially enhancing investor confidence.
• Management: Awareness of a significant passive institutional shareholder, though without direct implications for control or operational changes based on this filing.

Next Steps

• The Reporting Persons will continue to hold their passive investment in Surrozen, Inc. Common Stock.
• Future Schedule 13G/A amendments would be filed if there are material changes to their beneficial ownership or investment intent.

Key Dates

Keywords

Surrozen Inc, Perceptive Advisors, Joseph Edelman, Perceptive Life Sciences Master Fund, Schedule 13G, beneficial ownership, common stock, biotechnology investment, institutional ownership, SEC filing