Savara Inc. (SVRA) has seen a decrease of 5.13% in the current market. However, the last trading session closed at $1.17 with an increase of 3.54%.
Third Quarter 2021 Financial Results by SVRA – More About it
SVRA announced third quarter 2021 financial results on 12th November 2021. The company reported a net loss of $10.5 million with research and development costs of $6.5 million. The cost of screening patients and progressing the IMPALA-2 trial for the molgramostim development program increased by roughly $3.2 million. Moreover, general, and administrative expenses declined by 2 million and reached $3.4 million. Last but not the least, cash and cash equivalents came out to be $171 million.
What’s new?
The team is laser-focused on moving forward with the pivotal Phase 3 IMPALA 2 research, which is currently enrolling people. SVRA is also pleased with the progress made in the preceding quarter. Furthermore, an increasing number of locations are assessing and enrolling patients. Not only that, but the EMA accepted the proposed amended PIP, marking a significant regulatory milestone for the company.
Moreover, despite the unknown impact of COVID-19 and the flu over the winter, the firm remains confident in its prediction of a 20-month recruitment timeline and top-line results by the end of Q2 2024. Finally, the corporation considerably increased inhalation delivery and biological product experience with the addition of Peter Clarke and Charles LaPree to the manufacturing, regulatory, and quality operations.
Second Quarter 2021 financial Reports by SVRA – How was the quarter?
SVRA reported second-quarter 2021 financial results on 12th August 2021. The company experienced a net loss of $10.9 million with research and development costs of $1.2 million. Moreover, the general and administrative expenses were recorded as $3.2 million with an incline of 1.2% million. Last but not the least, the company had cash and cash equivalents of $181 million.
What’s New?
During the past nine months, the company simplified assets, decreased and reorganized the organization, and drastically strengthened the balance sheet so that they could focus solely on the pivotal Phase 3 IMPALA 2 clinical trial. Furthermore, the trial is progressing as planned, and the timelines are still on schedule, with the first patient dosed just over a month ago, numerous sites now operational, and patients dosed. Importantly, the organization is continuing to incorporate key lessons acquired from the first IMPALA study in order to complete IMPALA 2 as efficiently and as thoroughly as feasible.
