0000950170-22-016889 | 10-Q | XBRL Viewer

Recapitalization	6 Months Ended
Jun. 30, 2022
Recapitalization Note [Abstract]
Recapitalization	Note 3. Recapitalization On August 11, 2021, Consonance consummated the Business Combination (see Note 1). Immediately after the consummation of the Business Combination, certain investors subscribed for and purchased an aggregate of 12.0 million units, each consisting of one share of the Company’s common stock and one-third of one redeemable warrant, for a purchase price of $10.00 per unit through a private investment in public entity financing, or PIPE Financing. In connection with the Business Combination and PIPE Financing, Legacy Surrozen received the aggregate cash consideration of $128.8 million, after deducting the transaction fees incurred by Consonance. The cash consideration was comprised of $8.6 million in proceeds from issuance of common stock upon the closing of the Business Combination and $120.2 million in proceeds from the PIPE Financing. The Company incurred transaction costs of $6.3 million, consisting of legal, accounting and other professional services directly related to the Business Combination, $0.4 million of which were allocated to the warrant liabilities assumed and recognized as other expenses when incurred. The remaining $5.9 million were recorded as a reduction of additional paid-in capital in the unaudited condensed consolidated balance sheet. Legacy Surrozen was deemed the accounting acquirer in the Business Combination and the Business Combination was accounted for as a reverse recapitalization based on the following predominant factors: • Legacy Surrozen’s stockholders have the greatest voting interest in the Company; • The Company’s board and senior management are primarily composed of individuals associated with Legacy Surrozen; and • Legacy Surrozen is the larger entity based on historical operating activity and has the larger employee base at the time of the Business Combination. Accordingly, for accounting purposes, the reverse recapitalization was treated as the equivalent of Legacy Surrozen issuing stock for the net assets of Consonance, accompanied by a recapitalization. The net assets of Consonance are stated at historical cost, with no goodwill or other intangible assets recorded. Pursuant to the Business Combination Agreement, upon the closing of the Business Combination, (i) each share of redeemable convertible preferred stock of Legacy Surrozen (on an as converted to common stock basis) and each share of common stock of Legacy Surrozen, whether vested or unvested, was converted into 0.175648535 shares of the Company’s common stock and (ii) each outstanding option to purchase common stock of Legacy Surrozen was converted into an option to purchase shares of the Company’s common stock based on an exchange ratio of 0.175648535, or the Exchange Ratio, with corresponding adjustments to the exercise price. All issued and outstanding common stock, preferred stock and stock awards of Legacy Surrozen and corresponding capital amounts contained in the unaudited condensed consolidated financial statements for the periods presented prior to the closing of the Business Combination have been retroactively restated to reflect the conversion.

Recapitalization

6 Months Ended

Jun. 30, 2022

Note 3. Recapitalization

On August 11, 2021, Consonance consummated the Business Combination (see Note 1). Immediately after the consummation of the Business Combination, certain investors subscribed for and purchased an aggregate of 12.0 million units, each consisting of one share of the Company’s common stock and one-third of one redeemable warrant, for a purchase price of $10.00 per unit through a private investment in public entity financing, or PIPE Financing. In connection with the Business Combination and PIPE Financing, Legacy Surrozen received the aggregate cash consideration of $128.8 million, after deducting the transaction fees incurred by Consonance. The cash consideration was comprised of $8.6 million in proceeds from issuance of common stock upon the closing of the Business Combination and $120.2 million in proceeds from the PIPE Financing. The Company incurred transaction costs of $6.3 million, consisting of legal, accounting and other professional services directly related to the Business Combination, $0.4 million of which were allocated to the warrant liabilities assumed and recognized as other expenses when incurred. The remaining $5.9 million were recorded as a reduction of additional paid-in capital in the unaudited condensed consolidated balance sheet. Legacy Surrozen was deemed the accounting acquirer in the Business Combination and the Business Combination was accounted for as a reverse recapitalization based on the following predominant factors:

•

Legacy Surrozen’s stockholders have the greatest voting interest in the Company;

•

The Company’s board and senior management are primarily composed of individuals associated with Legacy Surrozen; and

•

Legacy Surrozen is the larger entity based on historical operating activity and has the larger employee base at the time of the Business Combination.

Accordingly, for accounting purposes, the reverse recapitalization was treated as the equivalent of Legacy Surrozen issuing stock for the net assets of Consonance, accompanied by a recapitalization. The net assets of Consonance are stated at historical cost, with no goodwill or other intangible assets recorded.

Pursuant to the Business Combination Agreement, upon the closing of the Business Combination, (i) each share of redeemable convertible preferred stock of Legacy Surrozen (on an as converted to common stock basis) and each share of common stock of Legacy Surrozen, whether vested or unvested, was converted into 0.175648535 shares of the Company’s common stock and (ii) each outstanding option to purchase common stock of Legacy Surrozen was converted into an option to purchase shares of the Company’s common stock based on an exchange ratio of 0.175648535, or the Exchange Ratio, with corresponding adjustments to the exercise price. All issued and outstanding common stock, preferred stock and stock awards of Legacy Surrozen and corresponding capital amounts contained in the unaudited condensed consolidated financial statements for the periods presented prior to the closing of the Business Combination have been retroactively restated to reflect the conversion.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Basis of Presentation

The Company’s unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States of America, or GAAP, and pursuant to the regulations of the U.S. Securities and Exchange Commission, or SEC. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted and accordingly, the condensed consolidated balance sheet as of December 31, 2021 has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the information required by GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) that are necessary for a fair presentation of the Company’s consolidated

financial statements. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ended December 31, 2022 or for any other interim period or future year.

The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated.

The Business Combination discussed in Note 1 was accounted for as a reverse recapitalization with Legacy Surrozen as the accounting acquirer and Consonance as the acquired company for accounting purposes. Accordingly, all historical financial information presented in the unaudited condensed consolidated financial statements represents the accounts of Legacy Surrozen at their historical cost as if Legacy Surrozen is the predecessor to the Company. The unaudited condensed consolidated financial statements following the closing of the Business Combination reflect the results of the combined entity’s operations. All issued and outstanding common stock, redeemable convertible preferred stock and stock awards of Legacy Surrozen and per share amounts contained in the unaudited condensed consolidated financial statements for the periods presented prior to the closing of the Business Combination on August 11, 2021 have been retroactively restated to reflect the exchange ratio established in the Business Combination. See Note 3, “Recapitalization” for additional details.

The accompanying condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K, filed with the SEC on March 28, 2022.

Use of Estimates

The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions made in the accompanying unaudited condensed consolidated financial statements include, but are not limited to, certain accrued expenses for research and development activities, the fair value of common stock prior to the Business Combination, stock-based compensation expense and income taxes. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could materially differ from those estimates.

Concentration of Credit Risk

Financial instruments, which potentially subject the Company to significant concentration of credit risk, consist of cash, cash equivalents and marketable securities. The Company's cash is held by one financial institution that management believes is creditworthy. Such deposits held with the financial institution may at times exceed federally insured limits, however, its exposure to credit risk in the event of default by the financial institution is limited to the extent of amounts recorded on the unaudited condensed consolidated balance sheets. The Company performs evaluations of the relative credit standing of these financial institutions to limit the amount of credit exposure. The Company's policy is to invest cash in institutional money market funds and marketable securities with high credit quality to limit the amount of credit exposure. The Company currently maintains a portfolio of cash equivalents and marketable securities in a variety of securities, including money market funds, U.S. government bonds, foreign bonds, commercial paper and corporate debt securities. The Company has not experienced any losses on its cash equivalents and marketable securities.

Marketable Securities

The Company invests its excess cash in U.S. government bonds, foreign bonds, commercial paper and corporate debt securities. All marketable securities have been classified as available-for-sale and are carried at estimated fair value as determined based upon quoted market prices or pricing models for similar securities. The Company does not buy or hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity and return. From time to time, the Company may sell certain securities, but the objectives are generally not to generate profits on short-term differences in price.

Short-term marketable securities have maturities less than or equal to one year as of the balance sheet date. Long-term marketable securities have maturities greater than one year as of the balance sheet date. These marketable securities are carried at estimated fair value with unrealized holding gains and losses included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Interest income is recognized in the unaudited condensed consolidated statements of operations and comprehensive loss when earned.

The Company periodically evaluates its available-for-sale marketable securities for impairment. When the fair value of a marketable security is below its amortized cost, the amortized cost is reduced to its fair value if it is more likely than not that the Company is required to sell the impaired security before recovery of its amortized cost basis, or the Company has the intention to sell the security. If neither of these conditions are met, the Company determines whether the impairment is due to credit losses by comparing the present value of the expected cash flows of the security with its amortized cost basis. The amount of impairment recognized is limited to the excess of the amortized cost over the fair value of the security. An allowance for credit losses for the excess of amortized cost over the expected cash flows, if any, is recorded in other income, net on the unaudited condensed consolidated statements of operations. Impairment losses that are not credit-related are included in accumulated other comprehensive loss in stockholders’ equity.

Warrant Liabilities

The Company's Public Warrants, Private Placement Warrants and PIPE Warrants were classified as liabilities (see Note 9). At the end of each reporting period, any changes in fair value during the period are recognized in other income, net within the unaudited condensed consolidated statements of operations and comprehensive loss. The Company will continue to adjust the warrant liabilities for changes in the fair value until the earlier of a) the exercise or expiration of the warrants or b) the redemption of the warrants, at which time such warrants will be reclassified to additional paid-in capital.

Net Loss Per Share

Basic net loss per share is calculated by dividing the net loss attributable to common stock by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive securities. Since the Company was in a loss position for the periods presented, basic net loss per share is the same as diluted net loss per share as the effects of potentially dilutive securities are antidilutive. The following table presents the potential common stock outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (in thousands):


	June 30,
	2022		2021

Options outstanding		3,503		1,479
Unvested restricted stock		130		196
Unvested common stock subject to repurchase		38		108
Warrants to purchase common stock		7,219		—
Total		10,890		1,783

Organization and Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Aug. 31, 2021
Subsidiary Sale Of Stock [Line Items]
Common stock warrants exercise price per share	$ 11.50		$ 11.50
Sale of Stock, Consideration Received on Transaction			$ 50,000
Cash, cash equivalents and marketable securities	$ 92,700		92,700
Transaction costs						$ 400
Net loss	(13,925)	$ (12,653)	(21,872)	$ (25,675)
Loss from operations	(14,072)	$ (12,660)	(28,565)	(25,691)
Net cash used in Operation			(29,787)	$ (23,212)
Accumulated deficit	$ (164,521)		$ (164,521)		$ (142,649)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Fair Value Measurement - Schedule of Marketable Securities by Security Type (Details) Investments in Thousands, $ in Thousands	Jun. 30, 2022 USD ($) Investments	Dec. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost Current	$ 76,299	$ 68,781
Amortized Cost, Non-current		21,753
Gross Unrealized Gains, Current	0	4
Gross Unrealized Gains, Non-current		0
Gross Unrealized Losses, Current	(476)	(25)
Gross Unrealized Losses, Non-current		(98)
Fair Value, Current	$ 75,823	68,760
Fair Value, Non-current		21,655
Number Of Positions \| Investments	11
Less then 12 Months, Fair Value	$ 37,139
Less then 12 Months, Unrealized Losses	476
Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost Current	35,185	49,136
Gross Unrealized Gains, Current	0
Gross Unrealized Losses, Current	0
Fair Value, Current	35,185	49,136
Corporate Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost Current	19,335	15,920
Amortized Cost, Non-current		3,588
Gross Unrealized Gains, Current	0	4
Gross Unrealized Gains, Non-current		0
Gross Unrealized Losses, Current	(83)	(17)
Gross Unrealized Losses, Non-current		(15)
Fair Value, Current	$ 19,252	15,907
Fair Value, Non-current		3,573
Number Of Positions \| Investments	6
Less then 12 Months, Fair Value	$ 15,752
Less then 12 Months, Unrealized Losses	83
Government bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost Current	18,093
Amortized Cost, Non-current		18,165
Gross Unrealized Gains, Current	0
Gross Unrealized Gains, Non-current		0
Gross Unrealized Losses, Current	(374)
Gross Unrealized Losses, Non-current		(83)
Fair Value, Current	$ 17,719
Fair Value, Non-current		18,082
Number Of Positions \| Investments	3
Less then 12 Months, Fair Value	$ 17,720
Less then 12 Months, Unrealized Losses	374
Foreign bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost Current	3,686	3,725
Gross Unrealized Gains, Current	0
Gross Unrealized Losses, Current	(19)	(8)
Fair Value, Current	$ 3,667	$ 3,717
Number Of Positions \| Investments	2
Less then 12 Months, Fair Value	$ 3,667
Less then 12 Months, Unrealized Losses	$ 19

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Basis of Presentation

The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated.

Use of Estimates

Concentration of Credit Risk

Marketable Securities

Warrant Liabilities

Net Loss Per Share


	June 30,
	2022		2021

Options outstanding		3,503		1,479
Unvested restricted stock		130		196
Unvested common stock subject to repurchase		38		108
Warrants to purchase common stock		7,219		—
Total		10,890		1,783

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounting Policies [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	10,890,000	1,783,000
Options Outstanding [Member]
Accounting Policies [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	3,503,000	1,479,000
Restricted Stock Award [Member]
Accounting Policies [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	130,000	196,000
Unvested common stock subject to repurchase [Member]
Accounting Policies [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	38,000	108,000
Warrants To Purchase Common Stock [Member]
Accounting Policies [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	7,219,000	0

Balance Sheet Components - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and related expenses	$ 2,757	$ 2,887
Accrued research and development expenses	2,389	3,666
Accrued professional service fees	64	1,520
Liability for early exercised stock options	138	205
Other	664	384
Accrued and other liabilities	$ 6,012	$ 8,662

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Feb. 28, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Sale of Stock, Consideration Received on Transaction		$ 50,000
Common Stock, Shares, Issued		35,124,000		35,034,000
Payments of Stock Issuance Costs		$ 0	$ 422
Maximum
Sale of Stock, Consideration Received on Transaction	$ 3,500
Closing Sale Price Below 10.00 per share [Member] \| Maximum
Common Stock, Shares, Issued	35,000
Closing Sale Price Below 12.00 per share [Member]
Common stock per share	$ 12.00
Closing Sale Price Below 12.00 per share [Member] \| Maximum
Common Stock, Shares, Issued	40,000
Lincoln Park [Member]
Common Stock, Shares, Issued	100,000	0
Common stock with the fair value	$ 300
Common stock per share	$ 1.00
Description of common stock closing sale transaction		The Regular Purchase Share Limit may be increased to up to 35,000 shares and 40,000 shares if the closing price of the Company’s common stock is not below $10.00 per share and $12.00 per share, respectively. Any single purchase of the Company’s common stock shall not exceed $3.5 million.
Sole discretion purchase common stock	30,000
Payments of Stock Issuance Costs	$ 100
Purchase price of additional shares	purchase price per share equal to 96% of the lower of (i) the closing price of the Company’s common stock on the purchase date and (ii) the volume weighted average price of the Company’s common stock on the purchase date.
Lincoln Park [Member] \| Maximum
Sale of Stock, Consideration Received on Transaction	$ 50,000
Stock Issuance period	36 months
Common Stock, Shares, Issued	7,003,383
Purchase of additional shares	500,000
Lincoln Park [Member] \| Minimum
Sale of Stock, Consideration Received on Transaction	$ 30,000
Lincoln Park [Member] \| Closing Sale Price Below 10.00 per share [Member]
Common stock per share	$ 10.00

Stock Based Compensation Plan - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 1,209
Weighted average grant date fair value/shares	$ 2.34
Unrecognized stock based compensation expense	$ 10,600
Weighted-average period	2 years 9 months 21 days
Common Stock, Shares, Issued	35,124,000	35,034,000
RSA
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of RSAs vested	$ 100
2021 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance	4,800,000
Options \| 2021 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
percentage of vesting	25.00%
Description of modification of options	Options under the 2021 Plan generally vest 25% upon one year of continued service to the Company, with the remainder in monthly increments over three additional years.
Options \| Maximum \| 2021 Stock Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period	10 years
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance	900,000
Percentage of discount payroll deductions	15.00%
Common Stock Trading Discription	The eligible employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the purchase day
Common Stock, Shares, Issued	0

Recapitalization - Additional Information (Details) $ / shares in Units, $ in Thousands		1 Months Ended	6 Months Ended
	Aug. 11, 2021 $ / shares shares	Aug. 31, 2021 USD ($)	Jun. 30, 2022 shares	Dec. 31, 2021 shares
Subsidiary Sale Of Stock [Line Items]
Transaction costs		$ 400
Reduction Of Additional Paid In Capital		$ 5,900
Common Stock, Shares, Outstanding \| shares			35,124,000	35,034,000
Common Stock, Shares, Issued \| shares			35,124,000	35,034,000
Exchange ratio		0.175648535	0.175648535
Surrozen Inc
Subsidiary Sale Of Stock [Line Items]
Goodwill		$ 0
Private Investment In Public Entity Offering [Member]
Subsidiary Sale Of Stock [Line Items]
Stock issued during period shares new shares \| shares	12,000,000.0
Shares issued, price per share \| $ / shares	$ 10.00
Proceeds from cash acquired through acquisition and PIPE offering		128,800
Proceeds from issuance of common stock upon Business Combination and PIPE Financing, net of issuance costs		8,600
Proceeds from issuance of units upon PIPE Financing		120,200
Transaction costs		$ 6,300

Stock Based Compensation Plan (Tables)

6 Months Ended

Jun. 30, 2022

Defined Benefit Plan Disclosure [Line Items]

Summary of Stock Option Activity

A summary of stock option activity is set forth below:


	Options outstanding
						Weighted
				Weighted		Average		Aggregate
	Number of			Average		Remaining		Intrinsic
	Options			Exercise		Contractual Life		Value
	(In thousands)			Price		(In years)		(In thousands)
Outstanding – December 31, 2021		1,794		$	6.31		8.43
Granted		1,761			3.38
Forfeited		(43	)		5.17
Expired		(9	)		6.15
Outstanding – June 30, 2022		3,503			4.86		8.80	$	1,209
Exercisable – June 30, 2022		950			3.56		7.40		1,047

Summary of RSA Activity

The following table summarizes the Company’s restricted stock award activity:


				Weighted
	Number of			Average
	Shares			Grant Date
RSAs, unvested at December 31, 2021		161		$	9.39
Vested		(31	)		8.12
RSAs, unvested at June 30, 2022		130			9.69

Schedule of Stock-Based Compensation Expense

Total stock-based compensation recorded in the unaudited condensed consolidated statements of operations and comprehensive loss related to stock options, restricted stock awards and ESPP was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development	$	354	$	172	$	687	$	347
General and administrative		625		360		1,208		660
Total stock-based compensation expense	$	979	$	532	$	1,895	$	1,007

Stock Option

Defined Benefit Plan Disclosure [Line Items]

Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Options

The fair value of options is estimated at the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Three Months Ended June 30,					Six Months Ended June 30,
	2022			2021(1)		2022			2021
Expected term (in years)		5.66			—		5.99			5.95
Expected volatility		82.97	%		—		80.46	%		63.43	%
Risk-free rate		2.96	%		—		1.74	%		0.78	%
Dividend yield		—			—		—			—

Stock Based Compensation Plan - Schedule of Stock-Based Compensation Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
General and administrative	$ 4,491	$ 2,395	$ 9,613	$ 6,825
Total stock-based compensation expense	979	532	1,895	1,007
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Research and development	354	172	687	347
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
General and administrative	$ 625	$ 360	$ 1,208	$ 660

Stock Based Compensation Plan - Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Options (Details) - Stock Option	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	5 years 7 months 28 days	5 years 11 months 26 days	5 years 11 months 12 days
Expected volatility	82.97%	80.46%	63.43%
Risk-free rate	2.96%	1.74%	0.78%
Dividend yield	0.00%	0.00%	0.00%

License Agreements - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Jun. 30, 2018	Sep. 30, 2016	Mar. 31, 2016	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
License Agreements [Line Items]
Research and development expense				$ 9,581	$ 10,265	$ 18,952	$ 18,866
Stanford License Agreements [Member] \| Stanford [Member]
License Agreements [Line Items]
Payments for milestone agreement or earned royalties on achievement of milestones			$ 5,000
Payments for achievement of specified development and regulatory milestones	$ 400
Payments for milestone agreement on achievement of milestones						0
Stanford License Agreements [Member] \| Stanford [Member] \| Maximum
License Agreements [Line Items]
Payments for milestone agreement or earned royalties on achievement of milestones			$ 900
UCSF License And Option Agreements [Member] \| Stanford [Member]
License Agreements [Line Items]
Payments for milestone agreement on achievement of milestones						0
Distributed Bio Subscription Agreement [Member]
License Agreements [Line Items]
Payments for achievement of specified development and regulatory milestones		$ 5,900
Distributed Bio Subscription Agreement [Member] \| Stanford [Member]
License Agreements [Line Items]
Research and development expense				$ 100		$ 100

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss	$ (21,872)	$ (25,675)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,007	1,003
Stock-based compensation	1,895	1,007
Non-cash operating lease expense	745	628
Amortization of premium on marketable securities, net	235	0
Change in fair value of warrant liabilities	(6,919)	0
Other expense related to the commitment shares issued to Lincoln Park	273	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,309	(747)
Other assets	(418)	(1)
Accounts payable	(2,278)	(637)
Accrued and other liabilities	(2,590)	2,245
Operating Lease liabilities	(1,174)	(1,035)
Net cash used in operating activities	(29,787)	(23,212)
Investing activities:
Purchases of property and equipment	(435)	(404)
Purchases of marketable securities	0	(1,098)
Proceeds from maturities of marketable securities	14,000	8,700
Net cash provided by investing activities	13,565	7,198
Financing activities:
Proceeds from exercise of stock options	0	305
Repurchase of early exercised stock options	(3)	(1)
Payments of deferred transaction costs	0	(422)
Net cash used in financing activities	(3)	(118)
Net decrease in cash, cash equivalents and restricted cash	(16,225)	(16,132)
Cash, cash equivalents and restricted cash at beginning of period	33,496	35,387
Cash, cash equivalents and restricted cash at end of period	17,271	19,255
Supplemental disclosure of noncash investing and financing activities:
Purchases of property and equipment included in accounts payable	0	156
Vesting of early exercises of stock options	57	77
Reclassification of early exercised stock options to liability	0	185
Deferred transaction costs included in accounts payable and accrued liabilities	0	922
Reconciliation Of Cash Cash Equivalents And Restricted Cash To Consolidated Balance Sheets Abstract
Cash and cash equivalents	16,866	18,850
Restricted cash	405	405
Cash, cash equivalents and restricted cash	$ 17,271	$ 19,255

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Lessee, Operating Lease, Liability, Maturity

Aggregate future minimum rental payments under the operating leases as of June 30, 2022, were as follows (in thousands):


Remaining six months ending December 31, 2022	$	1,271
Year ending December 31, 2023		2,596
Year ending December 31, 2024		2,670
Year ending December 31, 2025		891
Total lease payments		7,428
Less: Imputed interest		(809	)
Operating lease liabilities	$	6,619

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	13,623	$	—	$	—	$	13,623
Commercial paper		—		35,185		—		35,185
Corporate bonds		—		19,252		—		19,252
Government bonds		—		17,719		—		17,719
Foreign bonds		—		3,667		—		3,667
Total financial assets measured at fair value	$	13,623	$	75,823	$	—	$	89,446

Liabilities(2):
Public Warrants	$	587	$	—	$	—	$	587
Private Placement Warrants		—		28		—		28
PIPE Warrants		—		767		—		767
Total financial liabilities measured at fair value	$	587	$	795	$	—	$	1,382


	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	32,310	$	—	$	—	$	32,310
Commercial paper		—		49,136		—		49,136
Corporate bonds		—		19,480		—		19,480
Government bonds		—		18,082		—		18,082
Foreign bonds		—		3,717		—		3,717
Total financial assets measured at fair value	$	32,310	$	90,415	$	—	$	122,725

Liabilities(2):
Public Warrants	$	3,527	$	—	$	—	$	3,527
Private Placement Warrants		—		166		—		166
PIPE Warrants		—		4,608		—		4,608
Total financial liabilities measured at fair value	$	3,527	$	4,774	$	—	$	8,301

(1)

Money market funds are included in cash and cash equivalents on the unaudited condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021.

(2)

See the definition and discussion of Public Warrants, Private Placement Warrants and PIPE Warrants in Note 9.

Schedule of Marketable Securities by Security Type

The following tables provide the Company’s marketable securities by security type (in thousands):


	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	35,185	$	—	$	—		$	35,185
Corporate bonds		19,335		—		(83	)		19,252
Government bonds		18,093		—		(374	)		17,719
Foreign bonds		3,686		—		(19	)		3,667
Total short-term marketable securities	$	76,299	$	—	$	(476	)	$	75,823


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	49,136	$	—	$	—		$	49,136
Corporate bonds		15,920		4		(17	)		15,907
Foreign bonds		3,725		—		(8	)		3,717
Total short-term marketable securities	$	68,781	$	4	$	(25	)	$	68,760

Government bonds	$	18,165	$	—	$	(83	)	$	18,082
Corporate bonds		3,588		—		(15	)		3,573
Total long-term marketable securities	$	21,753	$	—	$	(98	)	$	21,655

Schedule Of Unrealized Loss On Investments

The following table indicates the length of the time that individual securities have been in a continuous unrealized loss position as of June 30, 2022 (dollars in thousands):


			Less Than 12 Months
	Number of Investments		Fair Value		Unrealized Losses
Corporate bonds		6	$	15,752	$	83
Government bonds		3		17,720		374
Foreign bonds		2		3,667		19
Total		11	$	37,139	$	476

Organization and Business

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Business

Note 1. Organization and Business

Organization

Surrozen, Inc., or the Company, formerly known as Consonance-HFW Acquisition Corp., or Consonance, is a clinical stage biotechnology company committed to discovering and developing drug candidates to selectively modulate the Wnt pathway, a critical mediator of tissue repair, in a broad range of organs and tissues, for human diseases. The Company, a Delaware corporation, is located in South San Francisco, California.

Business Combination and Private Investment in Public Entity Financing

Consonance was a blank check company incorporated as a Cayman Islands exempted company on August 21, 2020. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

On August 11, 2021, Consonance consummated a business combination, or the Business Combination, among Consonance, Perseverance Merger Sub Inc., a subsidiary of Consonance, and Surrozen, Inc., or Legacy Surrozen, a Delaware company incorporated on August 12, 2015. Upon closing of the Business Combination, Consonance became a Delaware corporation and was renamed to Surrozen, Inc., Legacy Surrozen, was renamed to Surrozen Operating, Inc., and Legacy Surrozen continued as a wholly-owned subsidiary of the Company. See Note 3, "Recapitalization" for additional details.

In May 2022, Surrozen Netherlands, B.V. was incorporated and located in Rotterdam, Netherlands as a wholly-owned subsidiary of Surrozen Operating, Inc.

Liquidity

The Company has incurred net losses since inception. The Company has historically financed the operations primarily through private placements of redeemable convertible preferred stock. As of June 30, 2022, the Company had cash, cash equivalents and marketable securities of $92.7 million. As of June 30, 2022, the Company had an accumulated deficit of approximately $164.5 million. The Company expects operating expenses to continue to increase in connection with our ongoing clinical studies and anticipates the need to raise additional capital to continue to execute its long-range business plan.

In February 2022, the Company entered into a purchase agreement, or the Equity Purchase Agreement, and a registration rights agreement with Lincoln Park Capital Fund, LLC, or Lincoln Park, pursuant to which Lincoln Park is obligated to purchase up to $50.0 million of the Company’s common stock from time to time at the Company’s sole discretion over a 36-month period commencing on April 27, 2022 (see Note 8).

Management believes that the existing cash, cash equivalents, and marketable securities are sufficient for the Company to continue operating activities for at least the next 12 months from the date of issuance of its unaudited condensed consolidated financial statements. However, if the Company’s anticipated cash burn is greater than anticipated, the Company could use its capital resources sooner than expected which may result in the need to reduce future planned expenditures and/or raise additional capital to continue to fund the operations.

License Agreements

6 Months Ended

Jun. 30, 2022

License Agreements [Abstract]

License Agreements

Note 6. License Agreements

Stanford License Agreements

In March 2016, the Company entered into a license agreement with Stanford University, or the 2016 Stanford Agreement, which was amended in July 2016, October 2016 and January 2021, pursuant to which the Company obtained from Stanford a worldwide, exclusive, sublicensable license under certain patents, rights, or licensed patents and technology related to its engineered Wnt surrogate molecules to make, use, import, offer to sell and sell products that are claimed by the licensed patents or that use or incorporate such technology, or licensed products, for the treatment, diagnosis and prevention of human and veterinary diseases. The Company agreed to pay Stanford an aggregate of up to $0.9 million for the achievement of specified development and regulatory milestones, and an aggregate of up to $5.0 million for achievement of specified sales milestones. Stanford is also entitled to receive royalties from the Company equal to a very low single digit percentage of the Company’s and its sublicensees’ net sales of licensed products that are covered by a valid claim of a licensed patent. Additionally, the Company agreed to pay Stanford a low double-digit percentage of non-royalty sublicense consideration received by the Company in connection with any sublicense granted to a third-party and, if the Company is acquired, a one-time change of control fee in the low six figures.

In June 2018, the Company entered into another license agreement with Stanford, or the 2018 Stanford Agreement, pursuant to which the Company obtained from Stanford a worldwide, exclusive, sublicensable license under certain patent rights related to its surrogate R-spondin proteins, or the licensed patents, to make, use, import, offer to sell and sell products that are claimed by the licensed patents, or licensed products, for the treatment, diagnosis and prevention of human and veterinary diseases, or the exclusive field. Additionally, Stanford granted the Company a worldwide, non-exclusive, sublicensable license under the licensed patents to make and use licensed products for research and development purposes in furtherance of the exclusive field and a worldwide, non-exclusive license to make, use and import, but not to offer to sell or sell, licensed products in any other field of use. The Company agreed to pay Stanford an aggregate of up to $0.4 million for the achievement of specified development and regulatory milestones. Stanford is also entitled to receive royalties from the Company equal to a sub-single digit percentage of the Company’s and its sublicensees’ net sales of licensed products. Additionally, the Company agreed to pay Stanford a one-time payment in the low six figures for each sublicense of the licensed patents that the Company grants to a third party and, if the Company is acquired, a one-time nominal change of control fee.

For the three and six months ended June 30, 2022 and 2021, the Company incurred de minimis research and development expenses under the Stanford agreements. No milestones have been achieved as of June 30, 2022.

UCSF License and Option Agreements

In September and October 2016, the Company entered into two separate license and option agreements with The Regents of the University of California, or the UCSF Agreements, pursuant to which the Company obtained exclusive licenses from UCSF for internal research and antibody discovery purposes and an option to negotiate with UCSF to obtain an exclusive license under UCSF’s rights in the applicable library to make, use, sell, offer for sale and import products incorporating antibodies identified or resulting from the Company’s use of such library, or licensed products.

In January 2020, the Company amended and restated the UCSF Agreements to provide non-exclusive licenses to make and use a certain human Fab naïve phage display library and to make and use a certain phage display llama VHH single domain antibody library for internal research and antibody discovery purposes and an option to negotiate with UCSF to obtain a non-exclusive commercial license under UCSF’s rights in the applicable library to make, use, sell, offer for sale and import products incorporating antibodies identified or resulting from the Company’s use of such library, or licensed products.

In March 2022, the Company exercised the option under the UCSF Agreements and entered into a non-exclusive commercial license agreement to make and use licensed products derived from the phage display llama VHH single domain antibody library. Under the commercial license agreement, the Company paid UCSF a nominal license issue fee and agreed to pay a nominal annual license maintenance fee, five- to six-digit payments per licensed product upon achievement of a regulatory milestone, nominal minimum annual royalties, and earned royalties equal to a sub-single digit percentage of the Company’s and the Company’s sublicensees’ net sales of licensed products.

For the three and six months ended June 30, 2022 and 2021, the Company incurred de minimis research and development expenses under the UCSF Agreements and the commercial license agreement. No milestones have been achieved as of June 30, 2022.

Distributed Bio Subscription Agreement

In September 2016, the Company entered into, and in January 2019, the Company amended, an antibody library subscription agreement with Charles River Laboratories International, Inc., formerly known as Distributed Bio, or the Distributed Bio Agreement, in which the Company obtained from Distributed Bio a non-exclusive license to use Distributed Bio’s antibody library to identify antibodies directed to an unlimited number of the Company’s proprietary targets and to make, use, sell, offer for sale, import and exploit products incorporating the antibodies that the Company identifies, or licensed products. The Company agreed to pay Distributed Bio an annual fee in the low six figures after the first three years. Additionally, the Company agreed to pay Distributed Bio an aggregate of $5.9 million for each licensed product that achieves specified development, regulatory and commercial milestones and royalties equal to a very low single digit percentage of the Company’s and its sublicensees’ net sales of licensed products. The Company’s obligation to pay royalties will end for each licensed product ten years after its first commercial sale.

For the three and six months ended June 30, 2022, the Company incurred $0.1 million research and development expenses under the Distributed Bio Agreement as the Company achieved a milestone with regard to the initiation of the Phase 1 clinical trial for SZN-1326 in May 2022. For the three and six months ended June 30, 2021, the Company incurred de minimis research and development expenses under the Distributed Bio Agreement.

Fair Value Measurement

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement

Note 4. Fair Value Measurement

The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):


	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	13,623	$	—	$	—	$	13,623
Commercial paper		—		35,185		—		35,185
Corporate bonds		—		19,252		—		19,252
Government bonds		—		17,719		—		17,719
Foreign bonds		—		3,667		—		3,667
Total financial assets measured at fair value	$	13,623	$	75,823	$	—	$	89,446

Liabilities(2):
Public Warrants	$	587	$	—	$	—	$	587
Private Placement Warrants		—		28		—		28
PIPE Warrants		—		767		—		767
Total financial liabilities measured at fair value	$	587	$	795	$	—	$	1,382


	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds(1)	$	32,310	$	—	$	—	$	32,310
Commercial paper		—		49,136		—		49,136
Corporate bonds		—		19,480		—		19,480
Government bonds		—		18,082		—		18,082
Foreign bonds		—		3,717		—		3,717
Total financial assets measured at fair value	$	32,310	$	90,415	$	—	$	122,725

Liabilities(2):
Public Warrants	$	3,527	$	—	$	—	$	3,527
Private Placement Warrants		—		166		—		166
PIPE Warrants		—		4,608		—		4,608
Total financial liabilities measured at fair value	$	3,527	$	4,774	$	—	$	8,301

(1)

Money market funds are included in cash and cash equivalents on the unaudited condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021.

(2)

See the definition and discussion of Public Warrants, Private Placement Warrants and PIPE Warrants in Note 9.

There were no changes to the valuation methods utilized and there were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the six months ended June 30, 2022.

Corporate bonds, commercial paper, foreign bonds and government bonds are classified as Level 2 as they were valued based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not

active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets.

The Public Warrants are classified as Level 1 due to the use of an observable market quote in an active market. The Private Placement Warrants and PIPE Warrants are classified as Level 2 due to the use of observable market data for identical or similar liabilities. The fair value of each Private Placement Warrant and PIPE Warrant was determined to be consistent with that of a Public Warrant because the Private Placement Warrants and PIPE Warrants are also subject to the make-whole redemption feature, which allows the Company to redeem both types of warrants on similar terms when the stock price is in the range of $10 to $18 per share.

The following tables provide the Company’s marketable securities by security type (in thousands):


	June 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	35,185	$	—	$	—		$	35,185
Corporate bonds		19,335		—		(83	)		19,252
Government bonds		18,093		—		(374	)		17,719
Foreign bonds		3,686		—		(19	)		3,667
Total short-term marketable securities	$	76,299	$	—	$	(476	)	$	75,823


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial paper	$	49,136	$	—	$	—		$	49,136
Corporate bonds		15,920		4		(17	)		15,907
Foreign bonds		3,725		—		(8	)		3,717
Total short-term marketable securities	$	68,781	$	4	$	(25	)	$	68,760

Government bonds	$	18,165	$	—	$	(83	)	$	18,082
Corporate bonds		3,588		—		(15	)		3,573
Total long-term marketable securities	$	21,753	$	—	$	(98	)	$	21,655

The following table indicates the length of the time that individual securities have been in a continuous unrealized loss position as of June 30, 2022 (dollars in thousands):


			Less Than 12 Months
	Number of Investments		Fair Value		Unrealized Losses
Corporate bonds		6	$	15,752	$	83
Government bonds		3		17,720		374
Foreign bonds		2		3,667		19
Total		11	$	37,139	$	476

As of June 30, 2022 and December 31, 2021, all short-term marketable securities had maturities of one year or less. There have been no significant realized gains or losses on the short-term and long-term marketable securities during the three and six months ended June 30, 2022 and 2021. The Company periodically reviews the available-for-sale investments for other-than-temporary impairment loss. All investments with unrealized losses have been in a loss position for less than 12 months. The Company determined that the unrealized loss was primarily attributed to changes in current market interest rates and not to credit quality. The Company does not intend to sell the marketable securities that are in an unrealized loss position, nor is it more likely than not that the Company will be required to sell the marketable securities before the recovery of the amortized cost basis, which may be at maturity. As a result, the Company did not recognize any other-than-temporary impairment losses as of June 30, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the potential common stock outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (in thousands):


	June 30,
	2022		2021

Options outstanding		3,503		1,479
Unvested restricted stock		130		196
Unvested common stock subject to repurchase		38		108
Warrants to purchase common stock		7,219		—
Total		10,890		1,783

Commitments and Contingencies - Summary Of Lessee, Operating Lease, Liability, Maturity (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining six months ending December 31, 2022	$ 1,271
2023	2,596
2024	2,670
2025	891
Total lease payments	7,428
Less: Imputed interest	(809)
Operating lease liabilities	$ 6,619

Commitments and Contingencies - Additional Information (Details) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 31, 2020 ft²	Aug. 31, 2016 ft²	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease month of expiry of lease	2022-06
Restricted cash			$ 405		$ 405		$ 405
Operating Lease, Expense			500	$ 500	1,000	$ 1,000
Eighteen Months [Member]
Lessee, Lease, Description [Line Items]
Area of Real Estate Property \| ft²	6,478
Operating lease term	18 months
CALIFORNIA \| Eight Years [Member]
Lessee, Lease, Description [Line Items]
Area of Real Estate Property \| ft²		32,813
Operating lease month of expiry of lease		2025-04
Restricted Cash			$ 400		$ 400

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 9,581	$ 10,265	$ 18,952	$ 18,866
General and administrative	4,491	2,395	9,613	6,825
Total operating expenses	14,072	12,660	28,565	25,691
Loss from operations	(14,072)	(12,660)	(28,565)	(25,691)
Interest income	60	7	109	16
Other income, net	87	0	6,584	0
Net loss	(13,925)	(12,653)	(21,872)	(25,675)
Unrealized loss on marketable securities, net of tax	(47)	0	(357)	0
Comprehensive loss	$ (13,972)	$ (12,653)	$ (22,229)	$ (25,675)
Net loss per share attributable to common stockholders, basic	$ (0.40)	$ (0.69)	$ (0.63)	$ (1.41)
Net loss per share attributable to common stockholders, diluted	$ (0.40)	$ (0.69)	$ (0.63)	$ (1.41)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	34,945	18,217,000	34,904	18,186,000
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	34,945	18,217,000	34,904	18,186,000

Fair Value Measurement - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other than temporary impairment losses \| $
PIPE Warrants \| Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Stock price to redeem warrants	$ 18
PIPE Warrants \| Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Stock price to redeem warrants	$ 10
Measurement Input, Expected Dividend Rate \| PIPE Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input	0

Fair Value Measurement - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands

Jun. 30, 2022

Dec. 31, 2021

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock par value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	35,124,000	35,034,000
Common Stock, Shares, Outstanding	35,124,000	35,034,000

Stock Based Compensation Plan - Summary of RSA Activity (Details) - RSA	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares RSAs, unvested, Beginning Balance \| shares	161
Number of Shares RSAs, Vested \| shares	(31)
Number of Shares RSAs, unvested, Ending Balance \| shares	130
Weighted Average Grant Date Fair Value RSAs, Unvested Beginning Balance \| $ / shares	$ 9.39
Weighted Average Grant Date Fair Value RSAs, Vested \| $ / shares	8.12
Weighted Average Grant Date Fair Value RSAs, Unvested Ending Balance \| $ / shares	$ 9.69

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Aug. 08, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	Surrozen, Inc./DE
Entity Central Index Key	0001824893
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		35,122,863
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-39635
Entity Tax Identification Number	98-1556622
Entity Address, Address Line One	171 Oyster Point Blvd
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	489-9000
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	SRZN
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Redeemable Warrant [Member]
Document Information [Line Items]
Trading Symbol	SRZNW
Title of 12(b) Security	Redeemable warrants, each whole warrant exercisable for one share of Common Stock
Security Exchange Name	NASDAQ

Common Stock Warrants - Additional Information (Details) - $ / shares		6 Months Ended
	Aug. 11, 2021	Jun. 30, 2022
Common Stock Warrants Outstanding		7,219,000
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1		$ 11.50
Common Stock Warrants Expiration Date		Aug. 12, 2026
Warrant Redemption Condition Minimum Share Price Scenario Two		$ 18.00
Public Warrants
Common Stock Warrants Outstanding		3,067,000
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1		$ 11.50
Common Stock Warrants Expiration Date		Aug. 12, 2026
Warrant Redemption Period		30 days
Warrant redemption condition minimum share price scenario one		$ 10.00
Public Warrants \| Common Stock, Closing Price equals or Exceeds $18 Per Share [Member]
Redemption Price Per Public Warrant		0.01
Issuance of common stock Per Share		18.00
Public Warrants \| Common Stock, Closing Price equals or Exceeds $10 Per Share [Member]
Redemption Price Per Public Warrant		0.10
Issuance of common stock Per Share		$ 10.00
Private Investment In Public Entity Offering [Member]
Stock issued during period shares new shares	12,000,000.0
Private Placement Warrants
Common Stock Warrants Outstanding		145,000
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1		$ 11.50
Common Stock Warrants Expiration Date		Aug. 12, 2026
Lock-In period for Transfer, Assignment or Sale of Warrants		30 days
Private Placement Warrants \| Common Stock, Closing Price equals or Exceeds $18 Per Share [Member]
Issuance of common stock Per Share		$ 18.00
Private Placement Warrants \| Common Stock, Closing Price equals or Exceeds $10 Per Share [Member]
Issuance of common stock Per Share		$ 18.00
PIPE Warrants
Common Stock Warrants Outstanding		4,007,000
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1		$ 11.50
Common Stock Warrants Expiration Date		Aug. 12, 2026

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Previously Reported	Revision of Prior Period, Reclassification, Adjustment	Common Stock	Common Stock Previously Reported	Common Stock Revision of Prior Period, Reclassification, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported	Additional Paid-in Capital Revision of Prior Period, Reclassification, Adjustment	Accumulated Other Comprehensive (Loss)	Accumulated Other Comprehensive (Loss) Previously Reported	Accumulated Deficit	Accumulated Deficit Previously Reported	Redeemable Convertible Preferred Stock Previously Reported	Redeemable Convertible Preferred Stock Revision of Prior Period, Reclassification, Adjustment
Temporary equity, Balance at the beginning at Dec. 31, 2020														$ 133,097	$ (133,097)
Temporary equity, Balance at the beginning (in shares) at Dec. 31, 2020														95,290,000	(95,290,000)
Balance at the beginning at Dec. 31, 2020	$ 47,293	$ (85,804)	$ 133,097	$ 2	$ 1	$ 1	$ 135,292	$ 2,196	$ 133,096		$ 0	$ (88,001)	$ (88,001)
Balance at the beginning (in shares) at Dec. 31, 2020				18,257,000	8,649,000	9,608,000
Exercises of stock options	196						196
Exercises of stock options, shares				76,000
Restricted stock granted, shares				123,000
Reclassification to liability for early exercised stock options	(120)						(120)
Vesting of early exercised stock options	30						30
Stock-based compensation expense	475						475
Net loss	(13,022)											(13,022)
Balance at the end at Mar. 31, 2021	34,852			$ 2			135,873			$ 0		(101,023)
Balance at the end (in shares) at Mar. 31, 2021				18,456,000
Temporary equity, Balance at the beginning at Dec. 31, 2020														$ 133,097	$ (133,097)
Temporary equity, Balance at the beginning (in shares) at Dec. 31, 2020														95,290,000	(95,290,000)
Balance at the beginning at Dec. 31, 2020	47,293	$ (85,804)	$ 133,097	$ 2	$ 1	$ 1	135,292	$ 2,196	$ 133,096		$ 0	(88,001)	$ (88,001)
Balance at the beginning (in shares) at Dec. 31, 2020				18,257,000	8,649,000	9,608,000
Issuance of common stock under Equity Purchase Agreement	0
Repurchase of early exercised stock options	1
Net loss	(25,675)
Balance at the end at Jun. 30, 2021	22,822			$ 2			136,496					(113,676)
Balance at the end (in shares) at Jun. 30, 2021				18,559,000
Balance at the beginning at Mar. 31, 2021	34,852			$ 2			135,873			0		(101,023)
Balance at the beginning (in shares) at Mar. 31, 2021				18,456,000
Exercises of stock options	109						109
Exercises of stock options, shares				50,000
Restricted stock granted, shares				70,000
Restricted stock forfeited, shares				(16,000)
Reclassification to liability for early exercised stock options	(65)						(65)
Vesting of early exercised stock options	47						47
Repurchase of early exercised stock options, shares				(1,000)
Stock-based compensation expense	532						532
Net loss	(12,653)											(12,653)
Balance at the end at Jun. 30, 2021	22,822			$ 2			136,496					(113,676)
Balance at the end (in shares) at Jun. 30, 2021				18,559,000
Balance at the beginning at Dec. 31, 2021	109,700			$ 4			252,464			(119)		(142,649)
Balance at the beginning (in shares) at Dec. 31, 2021				35,034,000
Issuance of common stock under Equity Purchase Agreement, shares				100,000
Issuance of common stock under Equity Purchase Agreement	273						273
Vesting of early exercised stock options	30						30
Repurchase of early exercised stock options, shares				(8,000)
Stock-based compensation expense	916						916
Other comprehensive loss	(310)									(310)
Net loss	(7,947)											(7,947)
Balance at the end at Mar. 31, 2022	102,662			$ 4			253,683			(429)		(150,596)
Balance at the end (in shares) at Mar. 31, 2022				35,126,000
Balance at the beginning at Dec. 31, 2021	109,700			$ 4			252,464			(119)		(142,649)
Balance at the beginning (in shares) at Dec. 31, 2021				35,034,000
Issuance of common stock under Equity Purchase Agreement	273
Repurchase of early exercised stock options	3
Net loss	(21,872)
Balance at the end at Jun. 30, 2022	89,696			$ 4			254,689			(476)		(164,521)
Balance at the end (in shares) at Jun. 30, 2022				35,124,000
Balance at the beginning at Mar. 31, 2022	102,662			$ 4			253,683			(429)		(150,596)
Balance at the beginning (in shares) at Mar. 31, 2022				35,126,000
Vesting of early exercised stock options	27						27
Repurchase of early exercised stock options, shares				(2,000)
Stock-based compensation expense	979						979
Other comprehensive loss	(47)									(47)
Net loss	(13,925)											(13,925)
Balance at the end at Jun. 30, 2022	$ 89,696			$ 4			$ 254,689			$ (476)		$ (164,521)
Balance at the end (in shares) at Jun. 30, 2022				35,124,000

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 16,866	$ 33,091
Short-term marketable securities	75,823	68,760
Prepaid expenses and other current assets	2,130	3,338
Total current assets	94,819	105,189
Property and equipment, net	4,200	4,794
Operating lease right-of-use assets	3,837	4,582
Long-term marketable securities	0	21,655
Restricted cash	405	405
Other assets	866	549
Total assets	104,127	137,174
Current liabilities:
Accounts payable	418	2,718
Accrued and other liabilities	6,012	8,662
Lease liabilities, current portion	2,094	2,193
Total current liabilities	8,524	13,573
Lease liabilities, noncurrent portion	4,525	5,600
Warrant liabilities	1,382	8,301
Total liabilities	14,431	27,474
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000 shares authorized; no shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, $0.0001 par value, 500,000 shares authorized as of June 30, 2022 and December 31, 2021; 35,124 and 35,034 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	4	4
Additional paid-in-capital	254,689	252,464
Accumulated other comprehensive loss	(476)	(119)
Accumulated deficit	(164,521)	(142,649)
Total stockholders' equity	89,696	109,700
Total liabilities and stockholders’ equity	$ 104,127	$ 137,174

Common Stock Warrants - (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Class Of Warrant Or Right [Line Items]
Common Stock Warrants Expiration Date	Aug. 12, 2026
Common stock warrants exercise price per share \| $ / shares	$ 11.50
Common Stock Warrants Outstanding \| shares	7,219,000
Fair Value \| $	$ 1,382
Public Warrants
Class Of Warrant Or Right [Line Items]
Common Stock Warrant Classification	Liability
Common Stock Warrants Expiration Date	Aug. 12, 2026
Common stock warrants exercise price per share \| $ / shares	$ 11.50
Common Stock Warrants Outstanding \| shares	3,067,000
Fair Value \| $	$ 587
Private Placement Warrants
Class Of Warrant Or Right [Line Items]
Common Stock Warrant Classification	Liability
Common Stock Warrants Expiration Date	Aug. 12, 2026
Common stock warrants exercise price per share \| $ / shares	$ 11.50
Common Stock Warrants Outstanding \| shares	145,000
Fair Value \| $	$ 28
PIPE Warrants
Class Of Warrant Or Right [Line Items]
Common Stock Warrant Classification	Liability
Common Stock Warrants Expiration Date	Aug. 12, 2026
Common stock warrants exercise price per share \| $ / shares	$ 11.50
Common Stock Warrants Outstanding \| shares	4,007,000
Fair Value \| $	$ 767