Watch List Stock News: Savara Inc. (NASDAQ: SVRA)

On 12 May 2020, Savara Inc. stock identified change of 256.52% away from 52-week low price and recently located move of -79.43% off 52-week high price. It has market worth of $135.67M and dividend yield of # ref. SVRA stock has been recorded 6.36% away from 50 day moving average and 15.87% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.35% off 20-day moving average.

Savara Inc. (SVRA) recently stated financial results for the fourth quarter and full year ending December 31, 2019 and provided a business update.

Fourth Quarter Financial Results (Unaudited)

Savara’s net loss for the fourth quarter of 2019 was $31.7M, or $(0.72) per share, contrast with a net loss of $10.5M, or $(0.29) per share, for the fourth quarter of 2018. Research and development expenses were $8.7M for the fourth quarter of 2019, contrast with $9.9M for the fourth quarter of 2018.

General and administrative expenses for the fourth quarter of 2019 and 2018 were $3.3M.

As of December 31, 2019, the Company had cash of $49.8M and short-term investments of $72.0M. Operating expenses for the fourth quarter of 2019 were about $31.5M which included $19.4M in noncash goodwill impairment charges. The Company ended the fourth quarter of 2019 with about $25.1M outstanding in short- and long-term debt on its balance sheet, which was used and will continue to be used to bolster operations and advance the development of drug candidates.

Fiscal Year 2019 Financial Results

The Company’s net loss for the year ended December 31, 2019 was $78.2M, or $(1.95) per share, contrast with a net loss of $61.5M, or $(1.85) per share for the year ended December 31, 2018.

Research and development expenses increased by $1.6M, or 4.3%, to $38.8M for the year ended December 31, 2019 from $37.2M for the year ended December 31, 2018. The increase was primarily Because of increased development and regulatory costs associated with the development of Molgradex for the treatment of aPAP, NTM, and NTM in patients with CF as well as development costs associated with the enrollment and other Phase 3 study activities of the AeroVanc program.

General and administrative expenses increased by $2.4M, or 22.8%, to $13.1M for the year ended December 31, 2019 from $10.7M for the year ended December 31, 2018. The increase was primarily Because of increased commercial costs related to market research and similar activities for Molgradex, increases in personnel costs, legal, accounting, insurance, business development, and other operating activities.

During the year ended December 31, 2019, the Company recognized $26.9M in noncash impairment charges to the carrying value of the Company’s goodwill following the results of the IMPALA Phase 3 study of Molgradex for the treatment of aPAP. During the year ended December 31, 2018, the Company recognized a $21.7M noncash impairment charge against the carrying value of purchased IPR&D related to an ancillary drug candidate, before assumed by Savara in the 2017 merger, Because of unfavorable results from the Phase 2 study. The Company is no longer supporting or pursuing this ancillary drug candidate.

Savara Inc. noticed change of -1.60% to $2.46 along volume of 413881 shares in recent session compared to an average volume of 332.54K. SVRA’s shares are at 5.58% for the quarter and driving a -77.88% return over the course of the past year and is now at -45.09% since this point in 2018.   The average volatility for the week at 10.38% and for month was at 10.82%. There are 55.15M shares outstanding and 42.85M shares are floated in market.

 

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