Savara Announces New Leadership Appointments

Rhea-AI Summary

Savara Inc. (NASDAQ: SVRA), a clinical stage biopharmaceutical company, announced key appointments to its leadership team, including Rob Lutz as Chief Operating Officer, Scott Wilhoit as Executive Vice President, Global Commercial, and Dave Lowrance as Chief Financial and Administrative Officer. The company is focused on completing enrollment for the IMPALA-2 Phase 3 trial of molgramostim nebulizer solution for autoimmune pulmonary alveolar proteinosis (aPAP), aiming to deliver top-line results by the end of Q2 2024. These changes underscore Savara's commitment to advancing its rare respiratory disease therapies.

Positive

• New appointments strengthen executive leadership: Rob Lutz (COO), Scott Wilhoit (EVP, Global Commercial), and Dave Lowrance (Chief Financial and Administrative Officer).
• Focus on completing enrollment for IMPALA-2 Phase 3 trial for molgramostim, with top-line data expected by end of Q2 2024.

Negative

• None.

• Rob Lutz Appointed Chief Operating Officer
• Scott Wilhoit Appointed Executive Vice President, Global Commercial
• Dave Lowrance, Promoted to Chief Financial and Administrative Officer
• Company Focused on Completing Enrollment for IMPALA-2, the Phase 3 Pivotal Trial of Molgramostim Nebulizer Solution (Molgramostim) in Autoimmune Pulmonary Alveolar Proteinosis (aPAP)

AUSTIN, Texas--(BUSINESS WIRE)-- Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the appointments of two pharmaceutical industry veterans to its executive leadership team. Rob Lutz has been appointed Chief Operating Officer, effectively immediately. Scott Wilhoit was appointed Executive Vice President, Global Commercial, effective January 9, 2023, and Dave Lowrance was promoted from Chief Financial Officer to Chief Financial and Administrative Officer, effective December 13, 2022.

“We are pleased that Rob and Scott, two seasoned biotech leaders, have joined the Savara team as we enter a critical phase of development, including completing enrollment of IMPALA-2, delivering top line data by the end of 2Q 2024, and accelerating the development of the global aPAP market,” said Matt Pauls, Chair and CEO, Savara. “Rob is a former investment banker and two-time Chief Business and Financial Officer with nearly two decades of operational leadership experience in the pharmaceutical industry including business development deal execution, capital markets and finance strategy, and commercial analytics in support of rare disease launches. Scott has more than 30 years of commercial experience, much of which has been in the rare disease space, and is an experienced leader who has built strong sales and marketing teams, successfully launched therapeutics for rare diseases, and has expertise in pricing and reimbursement. Our executive leadership team, strengthened by these new appointments, will continue to advance the molgramostim development program and begin planning to support its potential launch.”

About Savara

Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Our lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). Molgramostim is delivered via an investigational eFlow^® Nebulizer System (PARI Pharma GmbH). Our management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization. More information can be found at www.savarapharma.com. (Twitter: @SavaraPharma, LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).

Forward Looking Statements

Savara cautions you that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Such statements include, but are not limited to, statements related to the timing of IMPALA-2 enrollment completion and delivery of top line data, the acceleration of the development of the global aPAP market, and that our executive leadership team, strengthened by these new appointments, will continue to advance the molgramostim development program and begin planning to support its potential launch. Savara may not actually achieve any of the matters referred to in such forward-looking statements, and you should not place undue reliance on these forward-looking statements. These forward-looking statements are based upon Savara’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risks and uncertainties relating to the impact of the COVID-19 pandemic, the flu, or other widespread health concerns impacting healthcare providers or patients, disruptions or inefficiencies in the supply chain and geopolitical conditions on our business and operations, the outcome of our ongoing and planned clinical trials for our product candidate, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources for Savara’s operations and to conduct or continue planned clinical development programs, the ability to obtain the necessary patient enrollment for our product candidate in a timely manner, the ability to successfully develop our product candidate, the risks associated with the process of developing, obtaining regulatory approval for and commercializing drug candidates such as molgramostim that are safe and effective for use as human therapeutics, and the timing and ability of Savara to raise additional capital as needed to fund continued operations. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. For a detailed description of our risks and uncertainties, you are encouraged to review our documents filed with the SEC including our recent filings on Form 8-K, Form 10-K and Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Savara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005054/en/

Savara Inc. IR & PR

Anne Erickson (anne.erickson@savarapharma.com)

(512) 851-1366

Source: Savara Inc.

FAQ

What are the recent management changes at Savara Inc. (SVRA)?

Savara Inc. announced the appointments of Rob Lutz as Chief Operating Officer and Scott Wilhoit as Executive Vice President, Global Commercial. Dave Lowrance has been promoted to Chief Financial and Administrative Officer.

What is the IMPALA-2 trial for Savara Inc. (SVRA)?

The IMPALA-2 trial is a Phase 3 pivotal study for the molgramostim nebulizer solution, aimed at treating autoimmune pulmonary alveolar proteinosis (aPAP). Enrollment is being completed, with top-line data expected by the end of Q2 2024.

When will Savara Inc. (SVRA) release data from the IMPALA-2 trial?

Savara Inc. anticipates delivering top-line data from the IMPALA-2 trial by the end of the second quarter of 2024.