<span item_type="fundamental" item_id="e4496260ebef00e7462229e52cd30305" counter_id="ST/US/SRZNW" env="prod"></span><span item_type="announcement" item_id="514293216140399873" env="prod"></span><p>Revenue: As of FY2025 Q1, the actual value is USD 983 K.</p><p>EPS: As of FY2025 Q1, the actual value is USD -7.43.</p><p></p><h3>Segment Revenue</h3><ul><li>Research service revenue from related party: $983,000 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>Research and development expenses: $6,558,000 for the three months ended March 31, 2025, an increase from $5,247,000 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>General and administrative expenses: $3,976,000 for the three months ended March 31, 2025, compared to $3,883,000 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>Total operating expenses: $10,534,000 for the three months ended March 31, 2025, compared to $9,130,000 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>Net loss: -$26,970,000 for the three months ended March 31, 2025, compared to -$8,830,000 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>Net cash used in operating activities: -$9,279,000 for the three months ended March 31, 2025, compared to -$8,746,000 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>Net cash used in investing activities: -$27,000 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>Net cash provided by financing activities: $76,386,000 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>Loss on execution of the 2025 PIPE: -$71,084,000 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li>Gain on change in fair value of tranche liability: $16,340,000 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: Surrozen plans to file an Investigational New Drug application and commence clinical studies for SZN-8141 in 2026, targeting multiple retinopathy indications.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li><li><strong>Non-Core Business</strong>: The company discontinued development of SZN-043 in severe alcohol-associated hepatitis due to insufficient early signals of clinical benefit.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1824893/000095017025068046/srzn-20250331.htm"></span></li></ul>

Surrozen - CW25 | 10-Q: FY2025 Q1 Revenue: USD 983 K