SCHEDULE 13G/A: Stonepine Capital Maintains Significant 9.9% Stake in Surrozen, Inc. Common Stock

Stonepine Capital Management, LLC and its affiliates have filed an amended Schedule 13G, reaffirming their beneficial ownership of 9.9% of Surrozen, Inc.'s common stock as of March 31, 2025.

Summary

• Stonepine Capital Management, LLC, Stonepine Capital, L.P., Stonepine GP, LLC, and Jon M. Plexico collectively report beneficial ownership of 332,451 shares of Surrozen, Inc. Common Stock.
• This aggregate amount represents 9.9% of Surrozen, Inc.'s outstanding Common Stock.
• The ownership is calculated based on 285,782 shares of Common Stock and 202,658 shares issuable upon the exercise of Series A, Series B, and Series E Warrants.
• The beneficial ownership is subject to a 9.99% limitation.
• The percentage is based on 3,281,169 shares of Common Stock outstanding as of March 25, 2025, as reported in Surrozen, Inc.'s Form 10-K for the fiscal year ended December 31, 2024.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Surrozen, Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a factual regulatory filing disclosing a passive ownership stake. It neither indicates positive nor negative operational news for the company, but rather a significant, stable investment by an external party.

Positives

• The filing indicates a continued significant passive investment by an institutional investor (Stonepine Capital) in Surrozen, Inc., which can be viewed as a vote of confidence in the company's long-term prospects.
• The substantial 9.9% stake suggests a committed shareholder base, potentially contributing to stock stability.

Risks

• The beneficial ownership is subject to a 9.99% limitation, which may restrict Stonepine Capital's ability to significantly increase its stake without triggering different reporting requirements or control implications.

Future Outlook

This document, a Schedule 13G amendment, does not provide any forward-looking statements or guidance from Surrozen, Inc. or the reporting persons regarding the company's future operations or financial performance.

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by an investment firm in a publicly traded company. It does not provide specific insights into broader industry trends or competitive landscape beyond the fact that an investment firm sees value in holding a substantial position in Surrozen, Inc.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, potentially influencing investor confidence and perception of the stock's stability.
• Company Management: Awareness of a large, passive shareholder, which typically does not seek to influence control but represents a significant portion of the ownership base.

Key Dates

Keywords

Surrozen Inc., Stonepine Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Equity Stake, Warrants