Savara Inc 2025年季度报告

For the quarterly period endedMarch 31,2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period fromtoCommission File Number001-32157 (State or other jurisdiction ofincorporation or organization)1717 Langhorne Newtown Road,Suite 300 (512)614-1848(Registrant’s telephone number, including area code) PART I.FINANCIAL INFORMATIONItem 1.Financial Statements (Unaudited) Condensed Consolidated Balance SheetsCondensed Consolidated Statements of Operations and Comprehensive Loss Item 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATION Item 2.Unregistered Shares of Equity Securities and Use of Proceeds Current assets:Cash and cash equivalents Current portion of long-term debtTotal current liabilities 11,898Long-term liabilities:Long-term debt29,524Other long-term liabilities44Total liabilities41,466Commitments and contingencies (Note 9)Stockholders’ equity: Operating expenses:Research and development$19,159$General and administrative9,246 1,563——(381)—(2)——2,257 Amortization of debt issuance costs Stock-based compensationChanges in operating assets and liabilities: Prepaid expenses and other current assetsNon-current assets Accounts payable and accrued expenses and other current liabilities(3,148)Net cash used in operating activities(27,189)Cash flows from investing activities:Purchase of property and equipment(3)Purchase of available-for-sale securities, net(15,068)Maturity of available-for-sale securities44,400Net cash provided by investing activities29,329 Proceeds from long-term debt, net29,598Proceeds from exercise of stock options165Repurchase of shares for minimum tax withholdings(215)Net cash provided by financing activities2,318Effect of exchange rate changes on cash and cash equivalents(30) Cash and cash equivalents beginning of periodCash and cash equivalents end of period Supplemental disclosure of cash flow information: Cash paid for interest$1,325$The accompanying notes are an integral part of these condensed consolidated financial statements. 1. Organization and Nature of OperationsDescription of Business ("MOLBREEVI" or "molgramostim"), is an investigational inhaled biologic, specifically an inhaled granulocyte-macrophage colony-stimulating factor ("GM-CSF") in Phase 3 development for autoimmune pulmonary alveolar proteinosis (“aPAP”). The Company and its wholly-owned domestic and foreign subsidiaries operate in one segmentwith its principal office in Langhorne, Pennsylvania, though a significant portion of employees work remotely.Since inception, Savara has devoted its efforts and resources to identifying and developing its product candidates,recruiting personnel, and raising capital. Savara has incurred operating losses and negative cash flow from operationsand hasnoproduct revenue from inception to date. The Company has not yet commenced commercial operations. The unaudited interim condensed consolidated financial statements have been prepared in conformity with accountingprinciples generally accepted in the United States (“U.S. GAAP”) as defined by the Financial Accounting StandardsBoard (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis policies since the date of those financial statements.Principles of Consolidation The interim condensed consolidated financial statements of the Company are stated in U.S. dollars and are preparedunder U.S. GAAP. These condensed consolidated financial statements include the accounts of the Company and itswholly-owned subsidiaries. The financial statements of the Company’s wholly-owned subsidiaries are recorded in theirfunctional currency and translated into the reporting currency. The cumulative effect of changes in exchange ratesbetween the foreign entity’s functional currency and the reporting currency is reported inAccumulated other comprehensive lossin the condensed consolidated balance sheet. All intercompany transactions and accounts havebeen eliminated in consolidation. The condensed consolidated balance sheet at December 31, 2024 has been derivedfrom the Company's audited consolidated financial statements at that date but does not include all of the informationand notes required by U.S. GAAP for complete financial statements. and obtain regulatory approval for any drug is substantial and, as noted below, the Company may have to take certainsteps to maintain a positive cash position. Although the Company has sufficient capital to fund many of its plannedactivities, it may need to continue to raise additional capital to further fund the development of, and seek regulatoryapprovals for, its product candidate and begin to commercialize any approved product. The Company is currently focused on the development of MOLBREEVI for the treatment of aPAP and believes suchactivities will result in the continued incurrence of significant research and development a