TCG Crossover Fund Iii, LP

10% owner TCG Crossover GP II sells 325,000 shares at $21.25; stock now at $19.73, -43.6% from high

TCG Crossover GP II, LLC, a 10% owner, executed 2 separate sales totaling 325,000 shares for $6,906,250.00 on 2026-07-22 at $21.25 per share, reducing holdings by -36.1% from 899,047 to 574,047 shares. The sale occurred against a backdrop of severe deterioration: the stock has declined -20.3% over 30 days and -29.9% over 90 days from the transaction date, now trading at $19.73, -43.6% from the 52-week high of $35.00. Surrozen's fundamentals are deeply troubled, with annual revenue declining -67.4% year-over-year, a net loss of $-127,505,000.00 in the latest quarter on just $5,000,000.00 in revenue, and unprofitability throughout its most recent full fiscal year. The timing of this sale—at $21.25—relative to the subsequent price action and the company's deteriorating operational profile merits scrutiny into whether the transaction reflected early knowledge of operational challenges.

10% owner TCG Crossover GP II acquires 121,881 shares across 4 transactions totaling $3.0M in unprofitable biotech with -67.4% annual revenue decline

TCG Crossover GP II executed 4 separate purchases totaling 121,881 shares (121.9K shares) for $3,012,767.84 ($3.0M) at a blended average price of $24.72 between March 23–24, 2026, expanding its holdings by 19.8% to 736,547 shares (736.5K shares). The transaction occurs in Surrozen, Inc., a company with severe fundamental headwinds: latest-quarter revenue of $983,000.00 ($983.0K), a net loss of $-71,643,000.00 ($-71.6M), and annual revenue decline of -67.4%, with no profitability in its most recent full fiscal year. The current price of $26.14 lies 8.6% below the 52-week high of $28.60, reflecting a modest recovery from 90-day perspective (+14.2%). This is the insider's fifth transaction in Surrozen within an 11-day window (March 12–24), signaling sustained accumulation despite deteriorating top-line performance and ongoing operating losses.

TCG Crossover GP II buys 48,997 shares at $24.91 avg for $1.2M, raising stake to 675.6K shares (+7.8%)

TCG Crossover GP II, a 10% owner, executed 6 separate purchases totaling 48,997 shares for $1,220,361.80 across March 12–16, 2026, at a blended average price of $24.91. This represents a 7.8% increase in holdings from 626.6K to 675.6K shares. The timing coincides with SRZN trading near its 52-week range extremes (current $25.50 is -10.8% from the $28.60 high) and shortly after the insider's 5 prior trades at this ticker in early February, which achieved 30-day returns of +5.6% to +30.3%. The company remains unprofitable with a net income of $-71.6M and minimal revenue of $983.0K in the latest quarter, placing the valuation context on a loss-making profile. The accumulation pattern—multiple tranches over a short window—mirrors the insider's recent buying activity at this same ticker but lacks measurable 90-day outcome data to confirm execution timing at this stage.

TCG Crossover GP II LLC (10% owner) bought 18,856 shares for $444,844.45 at $23.59 blended average on Feb 11-12, 2026.

A significant 10% shareholder executed 4 separate purchases totaling 18,856 shares for $444,844.45 over two trading days (Feb 11-12, 2026) at a blended average price of $23.59, increasing holdings by 3.0% to 651,112 shares post-transaction. This purchase follows a cluster of 5 prior buys at SRZN within the preceding 10 days, suggesting a pattern of consistent accumulation despite the company's recent fundamentals: Surrozen reported revenue of $983,000.00 and net income of $-71,643,000.00 for the latest quarter, with a market cap of $209,828,386.08. The timing occurs while the stock has climbed 22.4% over 30 days and 88.6% over 90 days from its lows, yet remains 1.4% below its 52-week high of $24.84, indicating the insider is purchasing into a period of significant upward momentum rather than at depressed valuations.

TCG Crossover GP II, LLC bought 9,357 shares for $202.5K at avg. $21.65; post-transaction holdings 641.7K shares. Cluster pattern: 2 other insiders also bought within past 14 days.

TCG Crossover GP II, LLC, a 10% owner, executed 6 separate purchases totaling 9,357 shares for $202,534.17 across three trading dates (Jan 30–Feb 3, 2026), raising its holdings from 632,325 to 641,682 shares. The blended average purchase price of $21.65 sits 6.1% below the 52-week high of $24.59, and the company's stock has surged 85.8% over the past 90 days and 7.1% over the past 30 days. However, Surrozen remains deeply unprofitable—posting a net loss of $-71.6M against quarterly revenue of $983.0K—with a market cap of just $197.8M. The concurrent buying activity by 2 other insiders within the past 14 days mirrors this accumulation pattern, though the company's revenue-to-loss ratio underscores material fundamental stress that accompanies this multi-insider buying cluster.