Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the closing of its previously announced underwritten public offering of 28,452,381 shares of common stock, including 4,642,857 shares of common stock sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at $4.20 per share. In addition, in lieu of shares of common stock, Savara sold to certain investors that so chose, pre-funded warrants to purchase 7,142,857 shares of common stock at a price of $4.199 per pre-funded warrant. The aggregate gross proceeds to Savara from the offering were approximately $149.5 million before deducting underwriting discounts and commissions and other offering expenses.

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

These securities were offered by Savara pursuant to its existing shelf registration statement (File No. 333-279274) filed with the Securities and Exchange Commission (SEC) on May 9, 2024 and declared effective on May 21, 2024. The final prospectus supplement describing the terms of the offering was filed with the SEC on October 30, 2025. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com. An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering will be available on the SEC website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Savara, and shall not constitute an offer, solicitation, or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Savara

Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Savara’s lead program, MOLBREEVI*, is a recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (autoimmune PAP). MOLBREEVI is delivered via a proprietary investigational eFlow® Nebulizer System (PARI Pharma GmbH) specifically developed for inhalation of MOLBREEVI. Savara’s management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization.

*MOLBREEVI is the FDA and EMA conditionally accepted trade name for molgramostim inhalation solution. It is not approved in any indication. MOLBREEVI is a trademark of Savara Inc.

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