Shares of Savara Inc. (SVRA) stock were rising today on May 26, 2021, after falling as much as 2.98% at the previous closing. SVRA stock price saw a surge of 4.29% to reach $1.70 a share as of this writing. There is no news other than the announcement of the presentation date by Savara management. Let’s deep dive to explore more of it.
What’s Happening?
Savara Inc. (SVRA) is a clinical-stage biopharmaceutical company focused on the treatment of lung diseases. SVRA stock today announced that its management will present at the Jefferies Virtual Healthcare Conference on Wednesday, June 2, 2021, at 10:00 AM ET / 7:00 AM PT.
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On May 14, 2021, SVRA stock did announce the new Employment inducement grant by the compensation committee of its board of directors. According to this grant, the newly hired employee would be able to purchase 175,000 shares of SVRA common stock and restricted stock units that cover 100,000 shares of the SVRA common stock. The exercise price for this option was $1.62 per share.
Financial View of SVRA stock:
On May 13, 2021, SVRA stock announced the first quarter of 2021 financial results the highlights of which are given below.
- Net loss attributable to Savara’s common stockholders was $10.2 million, or $(0.13) per share for the first quarter of 2021 as compared to $15.4 million, or $(0.27) per share net loss attributable to Savara’s common stockholders.
- Savara spent $7.6 million in research and development expenses in the first quarter of 2021 which is $5.6 million or 42.5% less than the $13.2 million research and development expenses in the same quarter of 2020. The acquisition cost of $5.4 million for inhaled liposomal ciprofloxacin (Apulmiq) was the main reason for this decrease.
- General and administrative expenses reduced from $3.0 million in the first quarter of 2020 to $2.8 million in the first quarter of 2021 due to noncash stock-based compensation as well as personnel costs for the reported quarter.
- Savara stock reported $192.7 million cash, cash equivalents, and short-term investment as of March 31, 2020, and its debt was approximately $25 million at that time.
Conclusion:
SVRA stock price was gaining today after facing the bearish sentiment at previous trading. Investors eyeing Savara stock are waiting for the 2nd June presentation by SVRA. In short, deep fundamental, as well as technical analysis, is necessary before adding Savara stock to the portfolio.