Several biotechnology and healthcare companies announced first quarter 2025 financial results and business updates. Ocugen, Inc. reported $1.5 million in revenue, a net loss of $0.05 per share, and $38.1 million in cash. The company is advancing its modifier gene therapy platform, with the OCU400 Phase 3 trial for retinitis pigmentosa on track for regulatory filings by mid-2026, and plans to initiate a Phase 2/3 trial for OCU410ST for Stargardt disease in mid-2025. Dosing was completed in the Phase 2 portion of its OCU410 trial for geographic atrophy. Surrozen, Inc. reported a net loss of $27.0 million, or $7.43 per share, with $101.6 million in cash at the end of March, supported by a $76.4 million private placement. The company is focusing on its ophthalmology pipeline, discontinuing SZN-043 for severe alcohol-associated hepatitis, and advancing SZN-8141 and SZN-8143 for eye diseases. Surrozen recorded $1 million in research service revenue and expects to begin clinical studies for SZN-8141 in 2026. A $98.6 million tranche from the private placement is expected to fund further studies. Papa John's reported first quarter 2025 revenue of $518 million, up 1% year-over-year, with same-store sales down 3%. Adjusted earnings per share were $0.36, and diluted earnings per share were $0.27. Akebia Therapeutics shares rose 15.4% premarket after reporting results, while BlackSky shares were up 11% premarket. Dave, Inc. shares rose 26.2% premarket and are up 89% year-to-date. Sezzle leads fintech stocks year-to-date with a 103% gain. Other companies reporting first quarter results include Illumina, Cidara Therapeutics, Gyre Therapeutics, Sanuwave, Protalix BioTherapeutics, Boundless Bio, Rapid Micro Biosystems, InspireMD, Anika Therapeutics, Neurogene, Athira Pharma, Entera Bio, and Allarity Therapeutics. Illumina forecasts $85 million in tariff costs and a decrease in China sales. Allarity Therapeutics highlighted continued benefit from Stenoparib and upcoming trial enrollment.