Savara Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Savara Inc. filed its Q1 2024 10-Q report detailing financial positions and historical company information.</b>

AI Summary

Savara Inc (SVRA) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Savara Inc. filed its 10-Q report for the quarterly period ended March 31, 2024. The filing includes financial data for periods including Q1 2024 and Q1 2023. Key financial statement items such as Accumulated Other Comprehensive Income, Common Stock, and Retained Earnings are detailed as of March 31, 2024, and December 31, 2023. The company's business address is located at 6836 Bee Cave Road, Building 3, Suite 201, Austin, TX 78746. Savara Inc. was formerly known as Mast Therapeutics, Inc., ADVENTRX PHARMACEUTICALS INC, and BIOKEYS PHARMACEUTICALS INC.

Why It Matters

For investors and stakeholders tracking Savara Inc, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Savara Inc., crucial for understanding the company's ongoing operations and financial health. The inclusion of historical company names and dates of change offers context on the company's evolution and potential strategic shifts over time.

Risk Assessment

Risk Level: low — Savara Inc shows low risk based on this filing. The filing is a standard 10-Q, which is a routine periodic report and does not contain immediate, significant new risks beyond those typically associated with public companies in the pharmaceutical sector.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to assess Savara Inc.'s current financial standing and operational outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-09 — Filing Date (As of Date)
• 2834 — Standard Industrial Classification Code (Pharmaceutical Preparations)
• 51285113796 — Business Phone Number (Business Phone)

Key Players & Entities

• Savara Inc. (company) — Filer name
• Mast Therapeutics, Inc. (company) — Former company name
• ADVENTRX PHARMACEUTICALS INC (company) — Former company name
• BIOKEYS PHARMACEUTICALS INC (company) — Former company name
• Silicon Valley Bank (company) — Mentioned in context of a loan agreement
• Evercore Group LLC (company) — Mentioned in relation to warrants and advisory services

FAQ

Industry Context

Savara Inc. operates in the Pharmaceutical Preparations industry (SIC 2834). This sector involves the research, development, and manufacturing of drugs and medicines.

Regulatory Implications

As a publicly traded company in the US, Savara Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of Form 10-Q for quarterly financial updates.

What Investors Should Do

1. Analyze the balance sheet details for March 31, 2024, focusing on assets, liabilities, and equity.
2. Review any disclosed revenue or net income figures for the quarter, if available in the full filing.
3. Examine the company's history of name changes to understand its corporate evolution.

Key Dates

• 2024-03-31: Quarterly Period End — Financial data reported as of this date
• 2024-05-09: Filing Date — Date the 10-Q was officially submitted

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive update on the company's financial performance and position during the quarter.)

Year-Over-Year Comparison

This filing represents the most recent quarterly update (10-Q) for Savara Inc. as of March 31, 2024, following previous filings which would include annual reports (10-K) and potentially other periodic or event-driven disclosures.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SVRA The Nasdaq Global Se

Filing Documents

• svra-20240331.htm (10-Q) — 1122KB
• svra-ex10_1.htm (EX-10.1) — 497KB
• svra-ex31_1.htm (EX-31.1) — 14KB
• svra-ex31_2.htm (EX-31.2) — 14KB
• svra-ex32_1.htm (EX-32.1) — 11KB
• img165634578_0.jpg (GRAPHIC) — 29KB
• img165634578_1.jpg (GRAPHIC) — 9KB
• img199011388_0.jpg (GRAPHIC) — 4KB
• 0000950170-24-056954.txt (&nbsp;) — 6578KB
• svra-20240331.xsd (EX-101.SCH) — 1000KB
• svra-20240331_htm.xml (XML) — 989KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Consolidated Statements of Changes in Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21 PART II. OTHER INFORMATION 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Shares of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 22 Exhibit Index 23

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item I. Financ ial Information Savara Inc. a nd Subsidiaries Condensed Consolida ted Balance Sheets (In thousands, except share and per share amounts) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 16,785 $ 26,585 Short-term investments 126,258 135,734 Prepaid expenses and other current assets 3,144 3,628 Total current assets 146,187 165,947 Property and equipment, net 248 270 In-process R&D 10,712 10,960 Other non-current assets 1,148 387 Total assets $ 158,295 $ 177,564 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 2,853 $ 3,504 Accrued expenses and other current liabilities 6,957 7,093 Total current liabilities 9,810 10,597 Long-term liabilities: Long-term debt 26,416 26,348 Other long-term liabilities 208 247 Total liabilities 36,434 37,192 Commitments and contingencies (Note 9) Stockholders' equity: Common stock, $ 0.001 par value, 300,000,000 authorized as of March 31, 2024 and December 31, 2023; 138,176,641 and 138,143,545 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 140 140 Additional paid-in capital 536,178 533,872 Accumulated other comprehensive loss ( 742 ) ( 271 ) Accumulated deficit ( 413,715 ) ( 393,369 ) Total stockholders' equity 121,861 140,372 Total liabilities and stockholders' equity $ 158,295 $ 177,564 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Savara Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share amounts) (Unaudited) For the three months ended March 31, 2024 2023 Operating expenses: Research and development $ 16,807 $ 8,738 General and administrative

View Full Filing

View this 10-Q filing on SEC EDGAR