SRZN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• The DUET trial is a planned Phase 1b/2a clinical trial designed to assess safety, tolerability, and early signs of biological and clinical activity of SZN-8141 in patients with DME. The trial consists of an open-label Phase 1b single-ascending-dose portion enrolling both treatment-naïve and previous…

• We are developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema, or UME. SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6, or IL-6, antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic…

• The increase of $5.0 million in collaboration and license revenue for three months ended June 30, 2026, compared to three months ended June 30, 2025 is due to the recognition of a milestone achieved by Boehringer Ingelheim under the CLA in June 2026. See Note 5 to the unaudited condensed consolidate…

• The increase of $7.7 million, or 25%, in gain on change in fair value of tranche liability for the three months ended June 30, 2026, compared to three months ended June 30, 2025 was attributable to the noncash change in fair value of tranche liability related to a private placement which was execute…

• The increase of $4.1 million, or 26%, in other income, net for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, is primarily attributable to the noncash change in fair value of warrant liabilities during the period.

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• We are developing SZN-8143 for the treatment of DME, wet AMD, and uveitic macular edema, or UME. SZN-8143 combines Fzd4 agonism, VEGF antagonism, and interleukin-6, or IL-6, antagonism and may have benefits over single mechanism agents against these targets. The current standard of care for diabetic…

• Comparison of the Three Months Ended March 31, 2026 and 2025

• The increase of $5.0 million in collaboration and license revenue for three months ended March 31, 2026, compared to three months ended March 31, 2025 is due to the recognition of a milestone achieved by Boehringer Ingelheim under the CLA in March 2026.

• The loss on amendment and cancellation of warrants for the three months ended March 31, 2025 was due to the non-cash change in the fair value of warrant liabilities resulting from the amendment of Series A and Series B common stock warrants and cancellation of Series C and Series D common stock warr…

• Loss on execution of the 2025 PIPE for the three months ended March 31, 2025 reflects the loss recognized upon the initial execution of the 2025 PIPE as the committed proceeds from the 2025 PIPE were less than the fair value of the tranche liability recognized at contract execution date. See Note 8 …

Text added vs the prior filing · source: 10-Q · 2026-08-06

• There has been no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarterly period ended June 30, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financi…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• evaluation of our disclosure controls and procedures as required by Rule 13a-15 under the Exchange Act, our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this Quarterly Report, our disclosure controls and procedures were effective at …

• There has been no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarterly period ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financ…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Collaborators may interpret the terms of our agreements differently than we do, which could lead us to disagreements and disputes which could diminish the value of such collaboration to us. For example, Boehringer Ingelheim has recently advised us that it believes it has grounds to assert a contract…

• licensed to third parties. Therefore, these patents and applications may not be prosecuted and enforced in a manner consistent with the best interests of our business. Even if our owned or in-licensed patent applications issue as patents, they may not issue in a form that will provide us with any me…

• Moreover, future owned and in-licensed patents and patent applications may be co-owned with third parties. If we are unable to obtain an exclusive license to any such third-party co-owners’ interest in such patents or patent application, such co-owners may be able to

• license their rights to other third parties, including our competitors, and our competitors could market competing products and technology. We may need the cooperation of any such co-owners to enforce such patents against third parties, and such cooperation may not be provided to us. Any of the fore…

• A third party that files a patent application in the USPTO after March 16, 2013, but before we could therefore be awarded a patent covering an invention of ours even if we had made the invention before it was made by such third party. This will require us to be

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• Further, although we make reasonable efforts to ensure patentability of its inventions, we cannot guarantee that all of the potentially relevant prior art relating to our owned or in-licensed patents and patent applications has been found. For example, publications of

• Moreover, future owned and in-licensed patents and patent applications may be co-owned with third parties. If we are unable to obtain an exclusive license to any such third-party co-owners’ interest in such patents or patent application, such co-owners may be able to license their rights to other th…

• may be reduced or eliminated. If our licensors are not fully cooperative or disagree with us as to the prosecution, maintenance or enforcement of any patent rights, such patent rights could be compromised. If there are material defects in the form, preparation, prosecution, or enforcement of our pat…

• A third party that files a patent application in the USPTO after March 16, 2013, but before we could therefore be awarded a patent covering an invention of ours even if we had made the invention before it was made by such third party. This will require us to be cognizant of the time from invention t…

• If we or our licensors were to initiate legal proceedings against a third party to enforce a patent covering one of our product candidates or our technology, the defendant could counterclaim that such patent is invalid or unenforceable. In patent litigation in the United States,