SAVERONE 2014 LTD Stock Price, News & Analysis

SaverOne 2014 Ltd. (NASDAQ: SVRE) announced the installation of 10 of its driver safety systems on Novolog delivery trucks, entering the pharmaceutical delivery vertical. This partnership aims to enhance the safe transportation of critical medicines, potentially expanding to hundreds of trucks across Israel. The technology targets mobile phone distraction, a major cause of road accidents. SaverOne's system offers a proactive solution by blocking distracting applications while allowing navigation, with the goal of reducing accidents and financial losses in medical delivery logistics.

SaverOne 2014 Ltd. (Nasdaq: SVRE) reported over 1,000 installations of its driver safety systems as of August 31, 2022, signaling strong growth momentum. Revenue increased by 90% year-over-year to NIS 382,000 (~$109,000) amid early growth phases and new agreements. The company holds NIS 41 million (~$11.7 million) in cash. However, operating cash usage increased to NIS 11.9 million (~$3.4 million). Looking ahead, the company emphasizes its potential in public transport and aims to penetrate international markets with its upcoming Generation 2.0 solution.

SaverOne 2014 Ltd. (NASDAQ: SVRE) announced the installation of its mobile distraction prevention system on school buses in three regional councils of Israel, ahead of the school year starting September 1. This initiative targets a total potential of 54 councils and hundreds of buses, aiming to enhance student safety. CEO Ori Gilboa emphasized the prevalence of driver distractions and the solution's importance. The system can also be applied to various vehicles, aiming for expansion in Israel and beyond, including the US and Europe, amidst increasing demand for safety regulations.

SaverOne 2014 Ltd. (Nasdaq: SVRE) has completed the first installation phase of its transportation safety solution with ReadyMix Industries, part of the Cemex Group. The initial phase involved the installation of SaverOne systems in ten ReadyMix trucks, with potential for hundreds more. The technology addresses the issue of driver distraction caused by mobile device usage, significantly contributing to road accidents. SaverOne aims to expand its market reach from Israel to global markets, particularly targeting commercial fleets and anticipating increased demand due to upcoming EU regulations.

SaverOne 2014 Ltd. (NASDAQ: SVRE) has announced a collaboration with Universal Trucks Israel (UTI), the official importer for Isuzu vehicles, to install SaverOne protection systems in about 100 UTI trucks leased to customers. This partnership expands SaverOne's market presence and potential customer base, particularly as UTI manages over 1,700 vehicles. The SaverOne system aims to reduce driver distraction, which is a leading cause of road accidents, and is expected to see increased demand due to upcoming EU regulations focused on cellular distraction monitoring.

SaverOne (Nasdaq: SVRE) has appointed Israel Eybi as its new Chief Marketing and Sales Officer, aiming to enhance its market penetration both locally and internationally. Eybi, with over 25 years of experience in the IoT and automotive sectors, previously held significant roles at Bezeq and Pelephone, where he was instrumental in establishing market leadership in connected vehicle services. CEO Gilboa expressed confidence that Eybi's expertise will drive growth and expand SaverOne's global partnerships, fortifying its position in the automotive safety solutions market.

SaverOne 2014 Ltd. (Nasdaq: SVRE) announced new pilot agreements with several major Israeli companies, enhancing its market presence in transportation safety solutions. Recent pilots include partnerships with Tempo, Novolog, Flex Storage, Bezeq, and Cellcom, encompassing over 1,000 vehicles. CEO Ori Gilboa highlighted these pilots as crucial steps toward commercial agreements and expanding into international markets. The SaverOne system aims to prevent driver distractions from mobile devices, addressing an urgent safety concern, with an estimated annual cost of road accidents in the U.S. at $870 billion.

SaverOne 2014 Ltd. (Nasdaq: SVRE) has successfully closed its U.S. initial public offering, consisting of 2,941,918 units sold at $4.13 each, raising approximately $13 million before expenses. The offering began trading on June 3, 2022. An additional over-allotment option of 469,654 units is also available, with 126,482 warrants already exercised. The funds will be utilized for global sales expansion, product development, and general corporate purposes. ThinkEquity acted as the book-running manager for this offering.

SaverOne 2014 Ltd. (Nasdaq: SVRE) has announced the pricing of an initial public offering, raising approximately $13 million. This consists of 2,941,918 units at $4.13 each, plus 208,282 pre-funded units at $4.129. Each unit includes one American Depositary Share (ADS) and one warrant. The funds will support global sales expansion, development of new solutions, and general corporate purposes. The offering is set to close on June 7, 2022, with expected trading beginning on June 3, 2022.