Surrozen(US:SRZN)2025-03-31 20:07Financial Performance - Cash and cash equivalents as of December 31, 2024, were $34.6 million, an increase from $31.0 million as of September 30, 2024, but a decrease from $36.0 million as of December 31, 2023[5]. - Net loss for the full year 2024 was $63.6 million, compared to a net loss of $43.0 million for the same period in 2023[15]. - Total operating expenses for the full year 2024 were $36.2 million, down from $45.8 million in 2023[25]. - Surrozen's total assets as of December 31, 2024, were $48.5 million, an increase from $46.1 million in 2023[27]. Revenue Generation - Collaboration and license revenue for the full year 2024 was $10.0 million, compared to zero for the same period in 2023, due to a milestone achieved under a collaboration agreement[6][7]. - Research service revenue from related parties for the full year 2024 was $0.7 million, compared to zero in 2023, related to services provided to TCGFB, Inc.[8]. Expenses Management - Research and development expenses for the full year 2024 were $21.1 million, down from $27.2 million in 2023, primarily due to a restructuring executed in 2023[9]. - General and administrative expenses for the full year 2024 were $15.1 million, slightly down from $15.8 million in 2023, reflecting the impact of the restructuring[10]. Strategic Focus - The company is focusing on its ophthalmology pipeline, particularly for severe eye diseases, leveraging its expertise in Wnt signal modulation[2][4]. - The company completed a financing round with gross proceeds of approximately $76.4 million in March 2025 to fund multiple ophthalmology programs[5][3].