Page 1

/// Release Savara Reports Second Quarter 2021 Financial Results and Provides Business Update AUSTIN , Texas -- ( BUSINESS WIRE ) -- Aug . 12 , 2021-- -- ( Nasdaq : SVRA ) , a clinical stage biopharmaceutical company focused on rare respiratory diseases , today reported financial results for the second quarter ending June 30 , 2021 and provided a business update . " Over the last 9 months we streamlined our portfolio , reduced and restructured the organization , and significantly strengthened the balance sheet so that we could focus solely on advancing the pivotal Phase 3 IMPALA 2 clinical trial , " said Matt Pauls , Chair and Chief Executive Officer , Savara . " With the first patient dosed just over one month ago , numerous sites now activated , and patients dosed the trial is progressing as planned and our timelines remain on track . Importantly , we continue to leverage key learnings from the first IMPALA trial so that we can execute IMPALA 2 with the highest efficiency and quality . " Second Quarter Financial Results ( Unaudited ) Savara's net loss attributable to common stockholders for the three months ended June 30 , 2021 , was $ 10.9 million , or $ ( 0.07 ) per share , compared with a net loss attributable to common stockholders of $ 9.4 million , or $ ( 0.16 ) per share , for the three months ended June 30 , 2020 . Research and development expenses increased by $ 1.2 million , or 19.3 % , to $ 7.3 million for the three months ended June 30 , 2021 , from $ 6.1 million for the three months ended June 30 , 2020 . The increase was largely attributable to a $ 3.6 million increase in costs associated with advancement of the molgramostim in aPAP development program and was partially offset by a decrease in Chemistry Manufacturing and Controls ( CMC ) and clinical operations activities associated with the wind down of the vancomycin hydrochloride inhalation powder development program . General and administrative expenses were consistent with a slight increase of approximately 1.2 % , to $ 3.2 million for the three months ended June 30 , 2021 , from $ 3.1 million for the three months ended June 30 , 2020 . As of June 30 , 2021 , Savara had cash , cash equivalents , and short - term investments of approximately $ 181 million and debt of approximately $ 25 million . 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