Core Insights - Surrozen reported a significant turnaround from a net loss in Q2 2024 to a net income of $39.7 million in Q2 2025, with GAAP EPS of $2.55, surpassing analyst expectations of a loss of $1.11 per share [1][2][5] - The positive financial results were primarily driven by non-operating gains, including a $31.5 million gain from the change in fair value of its tranche liability and $16.2 million in net other income, while core business performance remained typical of a pre-commercial biotech [5][11] - The company recorded its first meaningful research service revenue of $1.0 million, attributed to a collaboration with TCGFB, Inc., with no product sales reported [6][11] Financial Performance - Q2 2025 GAAP EPS was $2.55, a significant improvement from $(7.99) in Q2 2024 [2] - Total revenue for Q2 2025 was $1.0 million, compared to $0.0 million in Q2 2024 [2] - Research and development expenses increased to $6.0 million, up 13.2% from Q2 2024, while general and administrative expenses rose to $4.0 million, an 8.1% increase [2][6] Company Overview - Surrozen focuses on therapies that modulate the Wnt pathway, crucial for tissue repair and regeneration, with a proprietary SWAP platform aimed at creating Wnt mimetics for treating retinal diseases [3][4] - The company is advancing drug candidates SZN-8141 and SZN-8143, targeting retinal diseases through Wnt pathway stimulation [4][9] Pipeline and Development - Progress in the pipeline includes continued preclinical advancement of SZN-8141 and SZN-8143, with plans to submit an IND application for SZN-8141 in 2026 [8][9] - The company expanded its intellectual property portfolio, securing U.S. Patent No. 12,297,278 for its SWAP technology [9] Strategic Partnerships and Leadership - Strategic partnerships, particularly with larger pharmaceutical firms, are essential for revenue and expertise [4][10] - The company strengthened its clinical leadership by appointing Daniel Chao, M.D. Ph.D, as Vice President and Head of Clinical Development, and established a Clinical Advisory Board [10] Cash Position and Future Outlook - As of June 30, 2025, Surrozen had cash and cash equivalents of $90.4 million, an increase from $34.6 million at the end of 2024, reflecting earlier capital raises [7] - The company did not provide formal revenue or profitability guidance but emphasized its focus on advancing the ophthalmology pipeline and submitting the SZN-8141 IND application in 2026 [12][13]

Newly granted patent is part of the expanding intellectual property portfolio directed to: -generating novel and selective Wnt surrogate molecules with potentially broad therapeutic utility and -incorporating novel discoveries related to requirements for efficient and selective Wnt pathway signaling SOUTH SAN FRANCISCO, Calif., May 14, 2025 (GLOBE NEWSWIRE) -- Surrozen, Inc. ("Surrozen" or the "Company") (Nasdaq: SRZN), a company pioneering targeted therapeutics that selectively activate the Wnt Pathway for ...

Core Viewpoint - Surrozen, Inc. reported its fourth quarter and full year 2024 financial results, highlighting advancements in its ophthalmology pipeline and a focus on targeted therapeutics for severe eye diseases [1]. Research and Development Pipeline Highlights - The company is prioritizing its ophthalmology pipeline programs aimed at providing new treatment options for severe eye diseases, particularly retinopathies [2]. - Surrozen is leveraging its expertise in Wnt biology and antibody technologies to develop these treatment options [2]. Other Business Highlights - Surrozen completed the first closing of a two-tranche financing, raising $175 million in total gross proceeds to fund multiple ophthalmology programs through Phase 1 studies [3][4]. Financial Results for the Fourth Quarter and Full Year 2024 - Cash and cash equivalents stood at $34.6 million as of December 31, 2024, an increase from $31.0 million as of September 30, 2024, but a decrease from $36.0 million as of December 31, 2023 [5]. - Collaboration and license revenue for the full year 2024 was $10.0 million, compared to zero in 2023, attributed to a milestone achieved under a collaboration agreement [6]. - Research service revenue from related parties was $0.7 million for both the fourth quarter and full year 2024, compared to zero in 2023 [7]. - Research and development expenses decreased to $21.1 million for the full year 2024 from $27.2 million in 2023, primarily due to restructuring efforts [8]. - General and administrative expenses were $15.1 million for the full year 2024, slightly down from $15.8 million in 2023 [9]. - The net loss for the full year 2024 was $63.6 million, compared to a net loss of $43.0 million in 2023 [14]. Balance Sheet Overview - Total assets as of December 31, 2024, were $48.5 million, an increase from $46.1 million in 2023 [25]. - Current liabilities were $7.3 million, slightly up from $7.1 million in 2023 [25]. - The accumulated deficit increased to $285.3 million as of December 31, 2024, from $221.7 million in 2023 [25].