Surrozen Q2 2025 net income $39.7M on non-cash gains; cash $90.4M, appoints new clinical VP

Surrozen, Inc./DE

2025-Q2 EPS reported $0.85 revenue$1,966,000

Net income of $39.7M ($2.55/diluted share) versus net loss of $25.3M in Q2 2024; driven by non-cash gains on tranche liability and warrant revaluation.
Cash and cash equivalents $90.4M at June 30, 2025, down from $101.6M at March 31, 2025.
Appointed Daniel Chao, M.D., Ph.D., as VP and Head of Clinical Development; also formed Clinical Advisory Board with four retinal specialists.
Granted U.S. Patent No. 12,297,278 covering SWAP multi-specific Wnt surrogate technology; IND submission for SZN-8141 targeted for 2026.
R&D expenses $6.0M (up from $5.3M) and G&A $4.0M (up from $3.7M); research service revenue from related party $1.0M.

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