Savara (SVRA) Q1 2026 earnings summary

Executive summary

• Focused on developing MOLBREEVI, an inhaled biologic for autoimmune PAP, with BLA filed and under FDA Priority Review; EMA and UK MHRA applications validated and under review.

• No product revenue to date; operations funded by equity, debt, and strategic agreements.

• Net loss for Q1 2026 was $37.3 million, up from $26.6 million in Q1 2025.

Financial highlights

• Cash and cash equivalents: $38.8 million; short-term investments: $164.0 million as of March 31, 2026.

• Total assets: $221.6 million; total liabilities: $45.6 million; stockholders’ equity: $176.0 million.

• Research and development expenses increased 22% year-over-year to $23.4 million.

• General and administrative expenses rose 68% year-over-year to $15.6 million, mainly due to higher stock-based compensation.

• Net cash used in operating activities: $33.0 million for Q1 2026.

Outlook and guidance

• Sufficient capital to fund planned activities, but may need to raise additional funds for further development and commercialization.

• Decision on EMA application expected Q1 2027; UK MHRA decision expected Q4 2026; FDA PDUFA date extended to November 22, 2026.

• Expenses expected to remain significant as clinical and regulatory activities continue.