Surrozen Inc., a biotechnology company focused on developing targeted therapeutics for severe eye diseases, has announced its financial results for the second quarter ended June 30, 2025. The company reported a significant improvement in net income, reaching $39.7 million, compared to a net loss of $25.3 million during the same period in 2024. Other income, net, increased to $16.2 million from $3.7 million in 2024, largely due to an $11.0 million non-cash change in the fair value of warrant liabilities. The company also noted a $31.5 million gain on the change in fair value of tranche liability, compared to zero for the same period in 2024. Research and development expenses rose to $6.0 million from $5.3 million in the previous year, reflecting higher manufacturing costs, lab expenses, and consulting fees for ophthalmology programs. General and administrative expenses increased slightly to $4.0 million from $3.7 million in 2024. Surrozen's cash position stood at $90.4 million as of June 30, 2025, down from $101.6 million as of March 31, 2025. In a significant business update, Daniel Chao, M.D., Ph.D., has joined Surrozen as Vice President of Clinical Development, and the company has formed a Clinical Advisory Board comprised of leading retinal specialists. Surrozen presented data at the Association for Research in Vision and Ophthalmology Annual Meeting and Clinical Trials at the Summit, highlighting its commitment to advancing its ophthalmology portfolio.