Savara closes $149.5M public offering with full underwriter option

Savara Inc. (NASDAQ: SVRA) completed its underwritten public offering, raising approximately $149.5 million in gross proceeds before deducting underwriting discounts and other expenses, according to a company statement.

The clinical-stage biopharmaceutical company sold 28,452,381 shares of common stock at $4.20 per share, including 4,642,857 shares from the full exercise of underwriters' option to purchase additional shares. Savara also sold pre-funded warrants to purchase 7,142,857 shares at $4.199 per warrant to certain investors who chose this option instead of common stock.

Jefferies, Piper Sandler, and Guggenheim Securities served as joint book-running managers for the offering. Oppenheimer & Co. acted as lead manager, while Citizens Capital Markets and H.C. Wainwright & Co. served as co-managers.

The securities were offered under Savara's existing shelf registration statement filed with the Securities and Exchange Commission on May 9, 2024, and declared effective on May 21, 2024. The final prospectus supplement was filed with the SEC on October 30, 2025.

Savara focuses on rare respiratory diseases and is developing MOLBREEVI, a recombinant human granulocyte-macrophage colony-stimulating factor currently in Phase 3 development for autoimmune pulmonary alveolar proteinosis. The treatment is delivered through a proprietary investigational eFlow Nebulizer System developed specifically for MOLBREEVI inhalation.

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