--- title: "Surrozen - CW25 | 8-K: FY2025 Revenue: USD 3.477 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/280210950.md" datetime: "2026-03-23T20:18:42.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280210950.md) - [en](https://longbridge.com/en/news/280210950.md) - [zh-HK](https://longbridge.com/zh-HK/news/280210950.md) generator: "portal-rs" --- # Surrozen - CW25 | 8-K: FY2025 Revenue: USD 3.477 M Revenue: As of FY2025, the actual value is USD 3.477 M. EPS: As of FY2025, the actual value is USD -32.37. ### Financial Highlights for Full Year 2025 #### Cash Position As of December 31, 2025, Surrozen’s cash and cash equivalents totaled $89.2 million, an increase from $34.6 million as of December 31, 2024. The company also reported $81.3 million in cash and cash equivalents as of September 30, 2025. In early 2026, Surrozen received additional net proceeds of $26.9 million from common stock sales and $3.3 million from warrant exercises. #### Segment Revenue - **Collaboration and License Revenue**: Surrozen recorded $0 million in collaboration and license revenue for the year ended December 31, 2025, a decrease from $10.0 million in 2024, which was attributable to a milestone achievement under an agreement with Boehringer Ingelheim. - **Research Service Revenue – Related Party**: This revenue increased to $3.5 million for 2025, up from $0.7 million in 2024, driven by a collaboration with TCGFB, Inc. which was terminated in November 2025. - **Total Revenue**: Total revenue for 2025 was $3.477 million, down from $10.655 million in 2024. #### Operating Expenses - **Research and Development Expenses**: R&D expenses increased to $29.365 million for 2025, compared to $21.132 million in 2024. This increase was primarily due to higher manufacturing costs, lab expenses, and consulting fees for ophthalmology programs, partially offset by a decrease in clinical expenses following the discontinuation of SZN-043’s clinical development. - **General and Administrative Expenses**: G&A expenses rose to $16.204 million for 2025, from $15.062 million in 2024, mainly due to increased professional service fees. - **Total Operating Expenses**: Total operating expenses for 2025 were $45.569 million, up from $36.194 million in 2024. #### Loss from Operations Loss from operations widened to -$42.092 million for 2025, compared to -$25.539 million for 2024. #### Other Income and Expenses - **Interest Income**: Interest income increased to $3.020 million for 2025, from $1.693 million in 2024, driven by an increase in cash and cash equivalents. - **Loss on Issuance of Common Stock, Pre-funded Warrants and Warrants in the 2024 PIPE**: No such loss was recorded in 2025, compared to -$20.397 million in 2024. - **Loss on Amendment and Cancellation of Warrants**: A loss of -$2.073 million was recorded in 2025 due to a non-cash change in the fair value of warrant liabilities. - **Loss on Execution of the 2025 PIPE**: A non-cash loss of -$71.084 million was recognized in 2025 upon the initial execution of the private placement. - **Loss on Change in Fair Value of Tranche Liability**: This loss was -$104.847 million for 2025, primarily due to an increase in the company’s stock price. - **Gain on Settlement of Tranche Liability**: A gain of $1.362 million was recorded in 2025. - **Other Expense, Net**: Other expense, net, was -$26.312 million for 2025, compared to -$19.321 million for 2024, mainly driven by the non-cash change in fair value of warrant liabilities. #### Net Loss Surrozen reported a net loss of -$242.026 million for the year ended December 31, 2025, significantly higher than the -$63.564 million net loss for 2024. #### Balance Sheet Highlights (as of December 31, 2025) - **Total Assets**: Total assets increased to $98.726 million from $48.467 million in 2024. - **Total Liabilities**: Total liabilities increased to $286.488 million from $69.847 million in 2024, largely due to tranche liability of $158.662 million and warrant liabilities of $112.547 million. - **Total Stockholders’ Deficit**: The total stockholders’ deficit increased to -$187.762 million from -$21.380 million in 2024. #### Outlook / Guidance Surrozen expects to submit an Investigational New Drug (IND) application for SZN-8141 to the FDA in the second half of 2026 and plans to present retinal vascular research on SZN-8141 at the 2026 ARVO Annual Meeting. The company also anticipates potential future success-based development, regulatory, and commercial milestone payments, along with royalties on sales, from its partnership with Boehringer Ingelheim. ### Related Stocks - [SRZNW.US](https://longbridge.com/en/quote/SRZNW.US.md) ## Related News & Research - [Crypto platform on alert lists opens Hong Kong office, prompting calls for scrutiny](https://longbridge.com/en/news/302948940.md) - [Unbuzzd Wellness Inc. 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