Press release
Savara Reports Second Quarter 2024 Financial Results and Provides Business Update
LANGHORNE, Pa.--(BUSINESS WIRE)-- Savara Inc. (Nasdaq: SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases,
About this update from Savara, Inc.
[{"type":"text","content":" LANGHORNE, Pa.--(BUSINESS WIRE)--\nSavara Inc. (Nasdaq: SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases, reported financial results for the second quarter ending June 30, 2024 and provided a business update.\n\n\nRecent Business Highlights\n\n\n\nReported positive top line results from IMPALA-2, a pivotal, Phase 3 clinical trial of molgramostim nebulizer solution (molgramostim) for the treatment of autoimmune pulmonary alveolar proteinosis (aPAP)\n\n\n\n— Statistically significant improvement in Percent Predicted Diffusing Capacity of the Lungs for Carbon Monoxide (DLCO) versus placebo at week 24 (primary endpoint) and week 48 (secondary endpoint)\n— Statistically significant improvement in St. George’s Respiratory Questionnaire (SGRQ) Total Score at week 24 (secondary endpoint)\n— Nominally significant improvements in SGRQ Activity Score at week 24 and exercise capacity using a treadmill test at week 48 (secondary endpoints)\n— 97% of patients completed double-blind treatment through week 48 with no trial drug-related adverse events leading to discontinuation\n— 100% of patients completing the 48-week double-blind period elected to participate in the 96-week open-label period\n\n\n\nAbstracts accepted for presentation at 2024’s European Respiratory Society (ERS) Congress, the CHEST Annual Meeting, and the British Thoracic Society (BTS) Winter Meeting\n\n\n\n— Abstracts highlight new IMPALA-2 data and the aPAP patient journey\n— Company-sponsored industry symposia to be held at the ERS Congress and the CHEST Annual Meeting\n\n\n\nFDA conditionally accepted the trade name MOLBREEVI™ for molgramostim\n\n\n\n\n\nCompany to host investor webinar on September 30, 2024\n\n\n\n— Data from the IMPALA-2 trial will be presented and updates on the global commercial landscape and aPAP market development work will be provided\n— Details for accessing the webinar forthcoming\n\n\n\nIn July 2024, further strengthened balance sheet with an ~$100M equity financing, which added ~$94M to the ~$122M in cash, cash equivalents, and short-term investments reported as of June 30, 2024; Company expects to be sufficiently capitalized through 2026\n\n\n\n“Following strong top line results in the IMPALA-2 trial, we plan to complete the BLA submission for MOLBREEVI, the trade name that the FDA has condit...