Savara Inc. Files Q2 2024 10-Q Report
Ticker: SVRA · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1160308
| Field | Detail |
|---|---|
| Company | Savara Inc (SVRA) |
| Form Type | 10-Q |
| Filed Date | Aug 12, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals
TL;DR
Savara Inc. 10-Q filed for Q2 2024. Financials and operations update.
AI Summary
Savara Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Mast Therapeutics, Inc., reported on its financial position and business activities. Key financial data points and disclosures related to its operations and investments are included in this filing.
Why It Matters
This filing provides investors and stakeholders with an update on Savara Inc.'s financial health and operational status for the second quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Savara faces inherent risks related to drug development, regulatory approvals, and market competition, which are detailed in its SEC filings.
Key Numbers
- 2024-06-30 — Reporting Period End Date (The 10-Q covers financial information up to this date.)
- 2024-08-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2834 — SIC Code (Standard Industrial Classification for Pharmaceutical Preparations.)
Key Players & Entities
- Savara Inc. (company) — Filer of the 10-Q
- Mast Therapeutics, Inc. (company) — Former name of Savara Inc.
- 20240630 (date) — End of the reporting period
- 20240812 (date) — Filing date
- Evercore Group LLC (company) — Mentioned in relation to financial activities during the period
FAQ
What was Savara Inc.'s primary business focus during the reporting period?
The filing indicates Savara Inc. operates within the Pharmaceutical Preparations industry (SIC Code 2834).
What is the fiscal year end for Savara Inc.?
Savara Inc.'s fiscal year ends on December 31st.
When was Savara Inc. formerly known as Mast Therapeutics, Inc.?
The company changed its name from Mast Therapeutics, Inc. on March 12, 2013.
What type of securities are mentioned in relation to Savara's financial statements?
The filing mentions US Government Debt Securities, US Treasury Securities, and Common Stock.
Who is listed as a financial entity associated with Savara Inc. during the reporting period?
Evercore Group LLC is mentioned in relation to financial activities between January 1, 2024, and June 30, 2024.
Filing Stats: 4,444 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-08-12 16:05:21
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share SVRA The Nasdaq Global Se
Filing Documents
- svra-20240630.htm (10-Q) — 1389KB
- svra-ex31_1.htm (EX-31.1) — 14KB
- svra-ex31_2.htm (EX-31.2) — 14KB
- svra-ex32_1.htm (EX-32.1) — 11KB
- img199014270_0.jpg (GRAPHIC) — 4KB
- 0000950170-24-095403.txt ( ) — 6488KB
- svra-20240630.xsd (EX-101.SCH) — 1016KB
- svra-20240630_htm.xml (XML) — 1090KB
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 22 Item 4.
Controls and Procedures
Controls and Procedures 22 PART II. OTHER INFORMATION 23 Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1A.
Risk Factors
Risk Factors 23 Item 2. Unregistered Shares of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23 Exhibit Index 24
– 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) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 23,864 $ 26,585 Short-term investments 97,652 135,734 Prepaid expenses and other current assets 6,178 3,628 Total current assets 127,694 165,947 Property and equipment, net 236 270 In-process R&D 10,634 10,960 Other non-current assets 1,106 387 Total assets $ 139,670 $ 177,564 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,386 $ 3,504 Accrued expenses and other current liabilities 7,900 7,093 Total current liabilities 11,286 10,597 Long-term liabilities: Long-term debt 26,484 26,348 Other long-term liabilities 169 247 Total liabilities 37,939 37,192 Commitments and contingencies (Note 9) Stockholders' equity: Common stock, $ 0.001 par value, 300,000,000 authorized as of June 30, 2024 and December 31, 2023; 138,199,047 and 138,143,545 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 140 140 Additional paid-in capital 538,429 533,872 Accumulated other comprehensive loss ( 880 ) ( 271 ) Accumulated deficit ( 435,958 ) ( 393,369 ) Total stockholders' equity 101,731 140,372 Total liabilities and stockholders' equity $ 139,670 $ 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 June 30, For the six months ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 17,