The Conversation (0)
Savara released their financial results for the third quarter of 2017 and shared an update with investors.
Savara (NASDAQ:SVRA) released their financial results for the third quarter of 2017 and shared an update with investors.
As quoted in the press release:
Third Quarter Financial Results
Savara’s net loss attributable to common shareholders for the three months ended September 30, 2017 was $6.8 million, or $(.28) per share, compared with a net loss attributable to common shareholders of $3.3 million, or $(1.21) per share, for the third quarter of 2016, which represents the historical financial information of the private company Savara Inc., which completed its merger with Mast Therapeutics, Inc. on April 27, 2017.
Research and development expenses were $5.0 million for the three-months ended September 30, 2017, compared with $2.1 million for the third quarter of 2016. The increase was primarily due to the funding of the Molgradex Phase 3 study, which we acquired from Serendex A/S in July 2016 and the initiation of our AeroVanc Phase 3 study.
General and administrative expenses for the three-months ended September 30, 2017 were $1.5 million, compared with $1.0 million for the third quarter of 2016. The increase was primarily due to increased insurance, legal, and accounting costs associated with public company requirements and activities as well as increased personnel costs.
Click here to read the full press release.
Source: www.marketwired.com
