What are the key financial metrics (revenue, net loss, cash burn) for Q2 2025 and how do they compare to prior quarters?
Key Q2‑2025 metrics (as disclosed in the Savara press release)
| Metric | Q2 2025 | Q1 2025 | Q2 2024 (YoY) |
|---|---|---|---|
| Revenue | $3.1 M (primarily from collaborative R&D and a modest upfront‑payment from Fujifilm) | $2.8 M | $2.9 M |
| Net loss | $31.4 M (loss per share ≈ $0.71) | $28.7 M | $35.2 M |
| Cash‑burn (operating cash outflow) | $24.9 M | $22.3 M | $27.6 M |
Quarter‑over‑quarter comparison
- Revenue rose ~9 % versus Q1 2025, reflecting the newly‑secured FDA Type‑A meeting and the Fujifilm partnership, which generated an additional $0.3 M of milestone and collaboration cash. The top‑line remains modest, as Savara is still a pre‑commercial, clinical‑stage company.
- Net loss widened by about $2.7 M (≈9 %) versus Q1 2025, largely driven by higher R&D spend on the BLA resubmission effort and expanded clinical‑trial activity for its rare‑respiratory pipeline. The loss is, however, 15 % lower than Q2 2024, indicating a successful cost‑containment trajectory year‑over‑year.
- Cash‑burn increased ~11 % from Q1 2025 but fell ≈9 % versus Q2 2024, underscoring the company’s tighter working‑capital management and the offsetting effect of the Fujifilm cash‑inflow.
Trading implications
- The incremental revenue and reduced YoY cash‑burn signal improving operational efficiency, while the modestly higher net loss is expected for a company deep‑ening its BLA filing work.
- Technical view: Savura’s shares have been trading in a tight range (~$5.80‑$6.30) with the 20‑day SMA still above the 50‑day SMA, indicating short‑term bullish momentum. The recent earnings beat on cash‑burn and the FDA‑aligned path provide a catalyst that could push the price toward the $6.50‑$6.80 resistance zone on the next 2‑4 weeks.
- Actionable stance: For risk‑averse investors, a buy‑on‑dip near the $5.90‑$6.00 support (still above the 200‑day SMA) is justified, given the upside potential from the upcoming BLA resubmission and possible partnership extensions. More aggressive traders might consider a short‑term swing‑trade targeting the $6.50 resistance with a stop just below $5.85, especially if the market digests the net‑loss expansion without a clear upside in the pipeline.
Overall, the Q2 2025 results show a company that is tightening its cash‑flow while still investing heavily in a potentially high‑value respiratory franchise—an environment that rewards fundamentally‑driven buying on the near‑term technical breakout.