Stonepine discloses 3.6% Surrozen (SRZN) stake in amended 13G filing

Rhea-AI Filing Summary

Stonepine Capital Management, Stonepine Capital, Stonepine GP and Jon M. Plexico filed an amended Schedule 13G reporting beneficial ownership of 316,289 shares of Surrozen, Inc. common stock, representing 3.6% of the class as of the reported date.

The stake consists of 113,631 shares of common stock plus 202,658 shares issuable upon exercise of Series A, Series B and Series E warrants, all subject to a 9.9% beneficial ownership limitation. The percentage is based on 8,571,421 shares outstanding as of November 5, 2025, and the filers certify the holdings are not for the purpose of changing or influencing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Surrozen, Inc./DE

(Name of Issuer)

Common Stock

(Title of Class of Securities)

86889P208

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

Stonepine Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 316,289.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 316,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

316,289.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person: Percentage calculated based on (a) (1) 113,631 shares of Common Stock, and (2) 202,658 shares of Common Stock issuable on exercise of Series A Warrants, Series B Warrants and Series E Warrants beneficially owned by the reporting person, subject to a 9.9% beneficial ownership limitation, and (b) 8,571,421 shares of Common Stock outstanding on November 5, 2025, as reported in the Form 10-Q filed by the Issuer for the quarter ended September 30, 2025.

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

Stonepine Capital, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 316,289.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 316,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

316,289.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: Percentage calculated based on (a) (1) 113,631 shares of Common Stock, and (2) 202,658 shares of Common Stock issuable on exercise of Series A Warrants, Series B Warrants and Series E Warrants beneficially owned by the reporting person, subject to a 9.9% beneficial ownership limitation, and (b) 8,571,421 shares of Common Stock outstanding on November 5, 2025, as reported in the Form 10-Q filed by the Issuer for the quarter ended September 30, 2025.

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

Stonepine GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 316,289.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 316,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

316,289.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Percentage calculated based on (a) (1) 113,631 shares of Common Stock, and (2) 202,658 shares of Common Stock issuable on exercise of Series A Warrants, Series B Warrants and Series E Warrants beneficially owned by the reporting person, subject to a 9.9% beneficial ownership limitation, and (b) 8,571,421 shares of Common Stock outstanding on November 5, 2025, as reported in the Form 10-Q filed by the Issuer for the quarter ended September 30, 2025.

SCHEDULE 13G

CUSIP No. 86889P208

1

Names of Reporting Persons

Jon M. Plexico

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 316,289.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 316,289.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

316,289.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: Percentage calculated based on (a) (1) 113,631 shares of Common Stock, and (2) 202,658 shares of Common Stock issuable on exercise of Series A Warrants, Series B Warrants and Series E Warrants beneficially owned by the reporting person, subject to a 9.9% beneficial ownership limitation, and (b) 8,571,421 shares of Common Stock outstanding on November 5, 2025, as reported in the Form 10-Q filed by the Issuer for the quarter ended September 30, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Surrozen, Inc./DE
(b)	Address of issuer's principal executive offices: 171 OYSTER POINT BLVD, SUITE 400, SOUTH SAN FRANCISCO, CA 94080
Item 2.
(a)	Name of person filing: Stonepine Capital Management, LLC, a Delaware limited liability company ("Stonepine") Stonepine Capital, L.P., a Delaware limited partnership (the "Partnership") Stonepine GP, LLC, a Delaware limited liability company (the "General Partner") Jon M. Plexico Stonepine and the General Partner are the investment adviser and general partner, respectively, of the Partnership. Mr. Plexico is the control person of Stonepine and the General Partner. The reporting persons are filing this Schedule 13G jointly, but not as members of a group, and each disclaims membership in a group. Each reporting person also disclaims beneficial ownership of Common Stock except to the extent of that person's pecuniary interest therein. In addition, the filing of this Schedule 13G on behalf of the Partnership should not be construed as an admission that it is, and it disclaims that it is, a beneficial owner, as defined in Rule 13d-3 under the Act, of any Common Stock covered by this Schedule 13G.
(b)	Address or principal business office or, if none, residence: 2900 NW Clearwater Drive, Suite 100-11, Bend OR 97703
(c)	Citizenship: See Item 4 of the cover sheet for each reporting person.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 86889P208
Item 4.	Ownership
(a)	Amount beneficially owned: Stonepine: 316,289 Partnership: 316,289 General Partner: 316,289 Jon M. Plexico: 316,289
(b)	Percent of class: Stonepine: 3.6% Partnership: 3.6% General Partner: 3.6% Jon M. Plexico: 3.6%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Stonepine: 0 Partnership: 0 General Partner: 0 Jon M. Plexico: 0
	(ii) Shared power to vote or to direct the vote: Stonepine: 316,289 Partnership: 316,289 General Partner: 316,289 Jon M. Plexico: 316,289
	(iii) Sole power to dispose or to direct the disposition of: Stonepine: 0 Partnership: 0 General Partner: 0 Jon M. Plexico: 0
	(iv) Shared power to dispose or to direct the disposition of: Stonepine: 316,289 Partnership: 316,289 General Partner: 316,289 Jon M. Plexico: 316,289
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Stonepine Capital Management, LLC

Signature:	/s/ Jon M. Plexico
Name/Title:	Managing Member
Date:	02/13/2026

Stonepine Capital, L.P.

Signature:	/s/ Jon M. Plexico
Name/Title:	Managing Member of the General Partner, Stonepine GP, LLC
Date:	02/13/2026

Stonepine GP, LLC

Signature:	/s/ Jon M. Plexico
Name/Title:	Managing Member
Date:	02/13/2026

Jon M. Plexico

Signature:	/s/ Jon M. Plexico
Name/Title:	Reporting person
Date:	02/13/2026

Exhibit Information

EXHIBIT 99 - AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G

FAQ

What ownership stake in Surrozen (SRZN) does Stonepine report in this Schedule 13G/A?

Stonepine and related reporting persons report beneficial ownership of 316,289 Surrozen common shares, representing 3.6% of the outstanding class. This figure combines currently owned shares and shares issuable from warrants, as detailed in the ownership calculation.

How is the 3.6% ownership of Surrozen (SRZN) calculated in the filing?

The 3.6% ownership is calculated using 8,571,421 Surrozen common shares outstanding on November 5, 2025. It includes 113,631 common shares plus 202,658 shares issuable upon exercise of Series A, B and E warrants, subject to a 9.9% ownership cap.

What securities make up Stonepine’s Surrozen (SRZN) position in this Schedule 13G/A?

The reported Surrozen position consists of 113,631 shares of common stock and 202,658 additional shares issuable from Series A, Series B and Series E warrants. These warrant-related shares are counted for beneficial ownership, subject to the 9.9% limitation described.

Which reporting persons are identified in the Surrozen (SRZN) Schedule 13G/A?

The filing lists Stonepine Capital Management, LLC, Stonepine Capital, L.P., Stonepine GP, LLC, and Jon M. Plexico as reporting persons. Each is shown with identical beneficial ownership of 316,289 shares and 3.6% of Surrozen’s common stock.

What does the 9.9% beneficial ownership limitation mean in the Surrozen (SRZN) filing?

The filing notes that 202,658 warrant shares are counted for ownership purposes but are subject to a 9.9% beneficial ownership limitation. This means the warrants are structured so exercises cannot push the reporting persons above that ownership level.

Does the Surrozen (SRZN) Schedule 13G/A indicate an intent to influence control?

The certification states the securities “were not acquired and are not held” to change or influence control of Surrozen. It also notes they are not held in connection with any control-related transaction, except certain activities tied to a specific nomination rule.

What date does the Surrozen (SRZN) Schedule 13G/A use as the event date?

The Schedule 13G/A lists December 31, 2025 as the date of the event requiring the filing. Ownership percentages are calculated using Surrozen’s outstanding share figure reported as of November 5, 2025 in its Form 10-Q.