Summary by Moomoo AI
SaverOne reported H1 2024 revenues of NIS 483K, down from NIS 1.5M in H1 2023, while reducing operating loss to NIS 15.7M from NIS 17.6M YoY through streamlined operations. The company maintained a cash position of NIS 11.3M as of June 30, 2024.The company strengthened its financial position by securing a new $15M Standby Equity Purchase Agreement with Yorkville in July 2024, receiving $3M in pre-paid advances through convertible promissory notes. This follows the expansion of an earlier $10M equity line to $15M in March 2024.In a strategic move to enhance its technology portfolio, SaverOne acquired Micronet's Generation-3 camera products and IP through an earn-out agreement in August 2024, with future royalty payments contingent upon product sales. The company continues to focus on commercializing its driver safety technology solutions while managing costs effectively.
