Why Shares of Savara Jumped on Tuesday
Shares of (NASDAQ: SVRA) rose more than 9% Tuesday morning after the company released first-quarter earnings. The stock is up more than 38% so far this year. Savara is a a clinical-stage pharmaceutical company that specializes in therapies to treat rare respiratory diseases.
The company announced first-quarter earnings after the market closed on Monday. Savara doesn't have any revenue, so the numbers weren't what encouraged investors. It reported a quarterly loss of $10.6 million, or a loss of $0.07 in earnings per share (EPS), compared to a loss of $8.3 million, or an EPS loss of $0.05 in the same period a year ago.
The big news was that Savara's lead therapy, molgramostim, which is in a phase 3 trial, is expected to have patients fully enrolled in the trial by next month and a top-line readout is now expected for the second quarter of 2024. The company said it had $114.8 million in cash, enough to fund operations through 2025, CEO Matt Pauls said in the release.
Source Fool.com
Savara Inc. Stock
The community is currently still undecided about Savara Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 5 € shows a positive potential of 27.55% compared to the current price of 3.92 € for Savara Inc..
