Summary of Savara FY Conference Call - November 10, 2025 Company Overview - **Company**: Savara (NasdaqGS:SVRA) - **Focus**: Single asset rare disease company - **Product**: Mulibrev (molgramostim inhalation solution) - **Indication**: Autoimmune pulmonary alveolar proteinosis (aPAP), a rare lung disease - **Regulatory Status**: Resubmission of Biologics License Application (BLA) projected for December 2025, with Marketing Authorization Applications (MAAs) planned for Europe and the U.K. in Q1 2026 [4][6][37] Key Points and Arguments Regulatory Developments - **BLA Submission**: Initial rolling submission began in December 2024, finalized in March 2025, but received a refusal to file (RTF) from the FDA in May 2025 due to manufacturing data issues [7][8] - **Manufacturing Strategy**: Transitioning to Fujifilm in the U.K. as the primary drug substance manufacturer following the RTF, supported by a Type A meeting with the FDA [8][9] - **IMPALA-2 Trial**: First and only application for aPAP, with breakthrough designation highlighting significant unmet need. Primary endpoint (DLCO) met statistical significance at 24 weeks, with durability observed at 48 weeks [12][14][16] Clinical Trial Insights - **Trial Design**: Global study with 164 patients across 43 centers in 16 countries. Key secondary endpoints included SGRQ and exercise capacity via treadmill test, both showing significant results [15][16][18] - **Patient Retention**: 100% of patients completed the trial and transitioned to open-label extension, indicating strong engagement and treatment interest [18] Market Opportunity - **Current Management of aPAP**: Existing treatment involves whole lung lavage, a mechanical procedure that does not address the underlying disease. Mulibrev targets the root cause by addressing GM-CSF signaling [21][22] - **Market Size Update**: Recent analysis identified approximately 5,500 patients with autoimmune PAP in the U.S., a 50% increase from previous estimates of 3,600 patients [23][25] - **Physician Distribution**: Approximately 1,100 centers manage these patients, with a customer-facing group of 25-30 expected to effectively address the patient population [26][27] Commercial Strategy - **U.S. Strategy**: Plans to go it alone in the U.S. market, with a focus on building disease awareness and diagnostic testing capabilities [28][29] - **International Strategy**: Similar approach in Europe and the U.K., while Asia Pacific presents challenges due to policy issues [29][30] - **Financing**: Recent two-step financing strategy was opportunistic, aimed at ensuring sufficient runway for operations and market entry [31][33] Future Outlook - **Regulatory Timeline**: Anticipated PDUFA date around August 2026, assuming priority review is granted [40] - **Market Readiness**: Company is well-capitalized and focused on execution to meet market expectations [36][37] Additional Important Insights - **Antibody Testing Program**: Ongoing no-cost antibody testing program is being utilized, with potential for future updates on testing numbers and market expansion [35][36] - **Unmet Need**: The significant unmet need in the aPAP market underscores the potential impact of Mulibrev as a treatment option [36]

Core Viewpoint - Rosen Law Firm is reminding investors of Savara Inc. (NASDAQ: SVRA) about the November 7, 2025 deadline to join a securities class action lawsuit related to the company's alleged misleading statements during the class period from March 7, 2024, to May 23, 2025 [1][2]. Group 1: Class Action Details - Investors who purchased Savara securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by the November 7, 2025 deadline [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Allegations Against Savara Inc. - The lawsuit alleges that Savara made false and misleading statements regarding the MOLBREEVI Biologics License Application (BLA) for a treatment of a rare lung disease, including insufficient information on its chemistry and manufacturing [5]. - It is claimed that the FDA was unlikely to approve the MOLBREEVI BLA in its current form, which could delay Savara's submission timeline and increase the need for additional capital [5]. - The lawsuit asserts that these misleading public statements resulted in investor damages when the true information became known [5].

Core Viewpoint - Savara Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between March 4, 2024, and May 23, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Savara Inc. made false statements regarding the MOLBREEVI Biologics License Application (BLA) for the treatment of pulmonary alveolar proteinosis, indicating insufficient information about its chemistry, manufacturing, and controls [2]. - It is alleged that the FDA was unlikely to approve the MOLBREEVI BLA in its current form, which would delay Savara's submission timeline and increase the need for additional capital [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until November 7, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [4].

Core Viewpoint - Savara Inc. is facing a federal securities class action due to allegations of misleading statements regarding its Biologics License Application (BLA) for MOLBREEVI, which has led to significant investor losses [3][4]. Group 1: Allegations Against Savara - The complaint claims that Savara and its executives violated federal securities laws by making false or misleading statements about the MOLBREEVI BLA, including insufficient information regarding its chemistry and manufacturing [3]. - It is alleged that the FDA was unlikely to approve the MOLBREEVI BLA in its current form, which would delay Savara's submission timeline and increase the need for additional capital [3]. - The public statements made by Savara were deemed materially false and misleading throughout the relevant period [3]. Group 2: Stock Price Impact - Following the announcement of a refusal to file letter from the FDA regarding the MOLBREEVI BLA, Savara's stock price dropped by $0.90, or 31.69%, closing at $1.94 per share on May 27, 2025 [4]. Group 3: Legal Proceedings - Investors who suffered losses in Savara between March 7, 2024, and May 23, 2025, are encouraged to contact Faruqi & Faruqi, LLP to discuss their legal rights and options [1][5]. - The deadline for seeking the role of lead plaintiff in the class action is November 7, 2025 [1].

Core Viewpoint - Rosen Law Firm is encouraging investors of Savara Inc. to secure legal counsel before the November 7, 2025 deadline related to a securities class action lawsuit [1][2]. Group 1: Class Action Details - The class action pertains to Savara securities purchased between March 7, 2024, and May 23, 2025, with a lead plaintiff deadline set for November 7, 2025 [1]. - Investors who purchased Savara securities during the specified period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. Group 2: Legal Representation - Investors are advised to select qualified legal counsel with a proven track record in securities class actions, as many firms may lack the necessary experience and resources [4]. - The Rosen Law Firm has a history of significant settlements, including the largest securities class action settlement against a Chinese company at the time, and has recovered hundreds of millions of dollars for investors [4]. Group 3: Case Allegations - The lawsuit alleges that Savara made false or misleading statements regarding the MOLBREEVI Biologics License Application, which lacked sufficient information for FDA approval [5]. - It is claimed that the delay in regulatory approval increased the likelihood of Savara needing to raise additional capital, and that the public statements made by the defendants were materially false and misleading [5].

Core Viewpoint - Savara Inc. is facing a class action securities lawsuit due to alleged securities fraud that affected investors between March 4, 2024, and May 23, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Savara Inc. made false statements regarding the MOLBREEVI Biologics License Application (BLA) for the treatment of pulmonary alveolar proteinosis, indicating insufficient information about its chemistry, manufacturing, and controls [2]. - It is alleged that the FDA was unlikely to approve the MOLBREEVI BLA in its current form, which would delay Savara's submission timeline and increase the need for additional capital [2]. - The public statements made by the defendants were deemed materially false and misleading throughout the relevant period [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until November 7, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a strong track record, having secured hundreds of millions of dollars for shareholders and being recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - Savara Inc. is facing a securities fraud class action lawsuit due to misleading statements regarding its Biologics License Application for MOLBREEVI, which led to significant stock price decline and investor losses [1][4][3]. Group 1: Lawsuit Details - The class action lawsuit is on behalf of investors who acquired Savara securities between March 7, 2024, and May 23, 2025, with a deadline of November 7, 2025, to participate as a lead plaintiff [1][5]. - The lawsuit alleges that Savara made materially false and misleading statements about its business and operations, particularly regarding the completeness of the MOLBREEVI BLA submission to the FDA [4][5]. - The FDA issued a refusal-to-file letter for the MOLBREEVI BLA on May 27, 2025, citing insufficient information, which led to a 31.7% drop in Savara's stock price, closing at $1.94 per share [2][3]. Group 2: Financial Impact - Following the FDA's refusal-to-file letter, Guggenheim lowered its price target for Savara, indicating potential delays in commercialization and the likelihood of additional capital raises [2][4]. - The lawsuit claims that the delay in regulatory approval for MOLBREEVI increased the likelihood of Savara needing to raise additional capital, further impacting investor confidence [4].

Core Viewpoint - A class action lawsuit has been filed against Savara Inc. for failing to disclose critical information regarding the MOLBREEVI Biologics License Application, leading to significant investor losses [8]. Allegation Details - The lawsuit claims that during the class period from March 7, 2024, to May 23, 2025, Savara did not disclose that the MOLBREEVI BLA lacked sufficient information on chemistry, manufacturing, and controls, making FDA approval unlikely [8]. - The complaint also states that the delay in regulatory approval would likely necessitate Savara to raise additional capital [8]. - Following the announcement of a refusal to file letter from the FDA on May 27, 2025, Savara's stock price dropped by $0.90, or 31.69%, closing at $1.94 per share [8]. Next Steps - Investors who purchased Savara shares during the class period and suffered losses are encouraged to contact the law firm for more information and to discuss their legal rights [4]. - The deadline for investors to apply to be appointed as lead plaintiff in the lawsuit is November 7, 2025 [8]. About the Law Firm - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents individual and institutional investors in complex litigation across the United States [5]. - The firm has offices in New York, California, and South Carolina [5].

Core Viewpoint - Savara Inc. is under investigation by Faruqi & Faruqi, LLP for potential claims related to its securities [1] Group 1 - Faruqi & Faruqi, LLP is a prominent national securities law firm with a history of recovering hundreds of millions of dollars for investors since its establishment in 1995 [1] - The investigation pertains to potential claims against Savara Inc., which is listed on NASDAQ under the ticker SVRA [1]

Core Points - The Gross Law Firm has issued a notice to shareholders of Savara Inc. regarding potential lead plaintiff appointment for those who purchased shares during the specified class period [1] Company Summary - Savara Inc. is listed on NASDAQ under the ticker SVRA [1]