# Savara Inc. (SVRA)

> Source: Nexqual · https://nexqual.com/SVRA · data as of 2026-10-29 16:07 UTC · cite as "Nexqual, Savara Inc. (SVRA), nexqual.com/SVRA" · informational, not investment advice.

**Price:** USD 5.01 (-0.20% today) · US market open, as of October 29, 2026 at 16:07 UTC; quotes may be delayed. Prev close 5.02 · day 5–5.13 · 52w 3.86–7.01 · market cap $1.03B · NMS

## Key facts
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $2.2M; 1 not under a Rule 10b5-1 plan ($2.2M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.67 on a 1–5 scale) (9 analysts), mean target USD 11.06 (range 9–16).
- Total return with dividends: 1Y +15.4% vs S&P 500 +13.2%; 5Y +331.9% vs S&P 500 +79.3%.
- Next earnings: 2026-11-11, EPS estimate USD -0.17, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$41.5M | -$38.8M | -$60.0M | -$103M | -$124M | -$144M |
| Net income | -$43.0M | -$38.1M | -$54.7M | -$95.9M | -$119M | -$139M |
| EPS (diluted) | -$0.32 | -$0.25 | -$0.33 | -$0.48 | -$0.53 | — |
| Free cash flow | -$40.1M | -$34.6M | -$51.4M | -$89.1M | -$101M | -$111M |
| Cash + short-term investments | $161M | $126M | $162M | $196M | $236M | — |
| Total debt | $25.7M | $26.1M | $26.3M | $26.6M | $29.9M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 7.2x · FCF yield -10.70% · Earnings yield -13.47% · Net cash $143M · EV $892M

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-22 | Lowrance David L | Chief Financial Officer | 394,528 | $2.2M | 42.4% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.67 on a 1–5 scale), 9 analysts; mean target USD 11.06 (low 9, high 16).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | JP Morgan | Initiated | Overweight | $12 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +15.4% | +331.9% |
| S&P 500 (SPY) | +13.2% | +79.3% |
| Per year | +15.4% | +33.9% |
| Volatility (annualized) | 53.6% | 56.6% |
| Max drawdown | -39.2% (Dec 2025→Oct 2026) | -61.1% (Mar 2024→Jun 2025) |

## Peers (Biotechnology)
KOD (Kodiak Sciences Inc) USD 101.51 +4.61% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.19% · ORKA (Oruka Therapeutics, Inc.) USD 96.98 +1.05% · IONS (Ionis Pharmaceuticals, Inc.) USD 45.08 +0.40% · AXSM (Axsome Therapeutics, Inc.) USD 144.54 +0.72% · ABVX (Abivax SA) USD 90.7 +0.96%

## More
Full page: https://nexqual.com/SVRA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SVRA's own 10-K filed 2026-03-13 (https://www.sec.gov/Archives/edgar/data/1160308/000119312526105076/svra-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | PARI Pharma | "For the supply of our exclusive, proprietary eFlow® nebulizer system that is part of the MOLBREEVI drug-device combination, we have a long-term supply agreement in place with PARI." |
| Supplier | GEMA Biotech | "At that meeting, we gained alignment with FDA on the requirements necessary to show comparability between drug substance manufactured at GEMA and drug substance manufactured at Fujifilm and, subsequently, decided to resu…" |
| Supplier | Patheon UK | "We have entered into an agreement and related work orders with Patheon under which Patheon manufactures our MOLBREEVI product candidate for clinical trials." |
| Partner | Selvita | "We entered into a master services agreement with Selvita on January 17, 2024 (the "Selvita MSA") under which Selvita performs batch control testing and analyses of our MOLBREEVI drug product and drug substance through ce…" |
| Partner | Evercore Inc. (EVR) | "On July 6, 2021, the Company entered into a Sales Agreement with Evercore Group L.L.C. ("Evercore"), as sales agent (the "ATM Agreement"), permitting the Company to offer and sell up to an aggregate of $100.0 million of …" |

## Company outlook (8-K filed 2020-08-06)

- "EX-99.1 2 d26703dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 SAVARA REPORTS SECOND QUARTER 2020 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE Announces Final Clinical Study Design for IMPALA 2, the Next Phase 3 Study of Molgradex in Autoimmune Pulmonary Alveolar Proteinosis (aPAP) Study Expected to Start in Q1 2021 AUSTIN, TX – August 6, 2020 – Savara Inc."
- "At the end of the 48-week double-blind period, both treatment arms will rollover into a 48-week open-label follow-on period in which all patients will receive Molgradex 300 µg administered once-daily. • The study is expected to start in the first quarter of 2021."
- "One hundred and thirty-three patients were enrolled in the primary analysis population (younger patients between 6-21 years of age) out of a target of 150. • Top line results from AVAIL are still expected in early 2021. 1 Molgradex for nontuberculous mycobacterial (NTM) lung infection • In March 2020, the exploratory ENCORE study stopped enrolling new patients due to COVID-19 concerns."
- "The Company anticipates an additional ~$46.0 million in gross proceeds from the second tranche of the December 2019 financing."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.17 | $-0.15 | −$0.02 | $0 | 6 |
| Next quarter (ends 2026-12-31) | $-0.17 | $-0.14 | −$0.03 | $1.8M | 6 |
| Current fiscal year (ends 2026-12-31) | $-0.65 | $-0.58 | −$0.07 | $1.8M | 6 |
| Next fiscal year (ends 2027-12-31) | $-0.37 | $-0.29 | −$0.07 | $79.6M | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-11): ±33.0%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 180.8% | ±33.0% |
| 2026-12-18 | 50 | 279.5% | ±77.1% |
| 2027-02-19 | 113 | 118.7% | ±62.4% |
| 2027-05-21 | 204 | 202.0% | ±109.0% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.16 | −$0.15 | Miss −6.7% | — |
| — | Quarter ended Dec 31, 2025 | −$0.13 | −$0.12 | Miss −8.3% | — |
| — | Quarter ended Sep 30, 2025 | −$0.14 | −$0.13 | Miss −7.7% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1160308/000119312526344585/0001193125-26-344585-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.