Savara Prices $100 Million Common Stock Offering

Savara Inc., a biopharmaceutical company specializing in rare respiratory diseases, has announced the pricing of an underwritten public offering of 26,246,720 shares of its common stock, each priced at $3.81. This will generate approximately $100 million in gross proceeds for the company before deducting underwriting discounts and commissions. The entire offering is being sold by Savara itself.

The initiative has attracted notable investors including Bain Capital Life Sciences, Farallon Capital Management, Frazier Life Sciences, Wellington Management, Nantahala Capital, TCGX, and First Light Asset Management, among others. The transaction is anticipated to conclude on July 1, 2024, contingent on meeting standard closing conditions.

Jefferies, Piper Sandler, and Guggenheim Securities are functioning as joint book-running managers for this offering, with Oppenheimer & Co. serving as the lead manager. The securities were offered under Savara’s existing shelf registration statement, filed with the Securities and Exchange Commission (SEC) on May 9, 2024, and declared effective on May 21, 2024. A prospectus supplement outlining the terms of the offering will be submitted to the SEC and will be part of the effective registration statement.

Savara Inc., headquartered in LANGHORNE, Pennsylvania, is dedicated to developing treatments for rare respiratory diseases. Its lead product, molgramostim nebulizer solution, is an inhaled form of granulocyte-macrophage colony-stimulating factor (GM-CSF), currently in Phase 3 development for treating autoimmune pulmonary alveolar proteinosis (aPAP). Molgramostim is administered via an investigational eFlow® Nebulizer System designed by PARI Pharma GmbH for the inhalation of large molecules.

Savara has a management team with significant expertise in rare respiratory conditions and pulmonary medicine. They focus on identifying unmet medical needs and advancing their product candidates through approval and commercialization stages effectively.

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