Savara (SVRA) Q2 2026 earnings summary

Executive summary

• Regulatory applications for MOLBREEVI are under review in the U.S., EU, and U.K., with the U.S. PDUFA target action date set for November 22, 2026; EMA and UK submissions validated and under review.

• Data presented at ATS showed long-term improvements in lung function and quality of life for MOLBREEVI.

• Patent protection for MOLBREEVI liquid formulation granted in Europe and Australia until March 2041.

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

• Operating losses continue as the company invests in R&D and commercial infrastructure ahead of potential product launch.

Financial highlights

• Net loss for Q2 2026 was $40.2M ($0.16 per share), up from $30.4M ($0.14 per share) in Q2 2025; net loss for the six months ended June 30, 2026 was $77.5M, up from $57.0M year-over-year.

• Operating expenses for Q2 2026 were $41.0M, up from $31.4M in Q2 2025; for the six months, $80.0M vs. $59.9M year-over-year.

• Cash, cash equivalents, and short-term investments totaled $173M as of June 30, 2026.

• Research and development expenses increased 5.8% year-over-year to $22.0M.

• General and administrative expenses rose 78.2% year-over-year to $19.0M, mainly due to higher personnel costs and commercial team buildout.

Outlook and guidance

• Sufficient capital to fund planned activities, but additional funding may be needed for further development, regulatory approvals, and commercialization.

• Up to $150M in non-dilutive capital available upon FDA approval of MOLBREEVI, supporting commercial launch plans.

• EMA and MHRA decisions on MOLBREEVI expected in Q1 2027 and Q4 2026, respectively.

• Expenses expected to remain significant as clinical development and commercial preparations continue.

• Future funding requirements depend on clinical progress and regulatory outcomes.