# EDGAR Filing Document

**Accession Number:** 0001160308
**File Stem:** 0001193125-25-193507
**Filing Date:** 2025-9
**Character Count:** 42470
**Document Hash:** 01cb7c8520ba6493dd109f108b1167fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-193507.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001193125-25-193507

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 61

**CONFORMED PERIOD OF REPORT**: 20250902

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Savara Inc
- **CENTRAL INDEX KEY:** 0001160308
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 841318182
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32157
- **FILM NUMBER:** 251283260

**BUSINESS ADDRESS:**
- **STREET 1:** 6836 BEE CAVE ROAD
- **STREET 2:** BUILDING 3, SUITE 201
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746
- **BUSINESS PHONE:** 51285113796

**MAIL ADDRESS:**
- **STREET 1:** 6836 BEE CAVE ROAD
- **STREET 2:** BUILDING 3, SUITE 201
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mast Therapeutics, Inc.
- **DATE OF NAME CHANGE:** 20130312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADVENTRX PHARMACEUTICALS INC
- **DATE OF NAME CHANGE:** 20030613

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIOKEYS PHARMACEUTICALS INC
- **DATE OF NAME CHANGE:** 20010928

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, DC 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of The Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported)

#### September 2, 2025

## SAVARA INC.

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-32157** | **84-1318182** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| |
|:---|
| **1717 Langhorne Newtown Road, Suite 300** |
| **Langhorne, PA 19047** |
| **(Address of principal executive offices, including zip code)** |

---

(512) 614-1848

#### (Registrant's telephone number, including area code)

#### N/A

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common Stock, par value $0.001 per share | SVRA | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure.**  |

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Savara Inc. ("Savara") has updated its corporate presentation, which is available on the Investor Relations page of Savara's website at <u>https://savarapharma.com/investors/events-presentations/</u>. A copy of the presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Savara undertakes no duty or obligation to update or revise the information contained in this presentation, although it may do so from time to time. Any such updates may be made through the Investor Relations page of the Savara website, the filing of other reports or documents with the U.S. Securities and Exchange Commission, press releases, or other public disclosure.

The information in Item 7.01 in this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.**  |

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(d) Exhibits.

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| | |
|:---|:---|
| Exhibit<br>No. | Description |
| 99.1 | [Savara Corporate Presentation](d12513dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date: September 2, 2025 |  | SAVARA INC.<br> a Delaware corporation |
|  | By: | /s/ Dave Lowrance |
|  |  | Dave Lowrance<br> Chief Financial & Administrative Officer |

---

## Exhibit 99.1

![Slide 1](g12513ex99_1s1g1.jpg)

Corporate Overview Developing New Therapies for Rare Respiratory Diseases September 2025© Savara Inc. All Rights Reserved. Exhibit 99.1

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![Slide 2](g12513ex99_1s2g1.jpg)

Safe Harbor Statement© Savara Inc. All Rights Reserved. Savara Inc. ("Savara" or the "Company") cautions you that statements in this presentation that are not a description of historical fact are forward-looking statements which may be identified by the use of words such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others. Such statements include, but are not limited to, statements regarding the potential health benefits and risks and projected development timeline of MOLBREEVI; the timing of regulatory submissions; the potential for and impact of regulatory approval; the potential addressable patient population, market size, commercial opportunity, and competitive landscape for MOLBREEVI; Savara's commercial launch planning activities, including disease awareness campaign, planned infrastructure, and anticipated hiring and the potential impact of those activities; GM-CSF autoantibody testing and its potential impact; and the sufficiency of our resources to fund the advancement of our development program and potential sources of additional capital. Savara may not actually achieve any of its plans or product development goals in a timely manner, if at all, or otherwise carry out its current intentions or meet the expectations or projections disclosed in its 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 associated with our ability to successfully develop, obtain regulatory approval for and commercialize MOLBREEVI for autoimmune PAP; the risks and uncertainties related to the impact of widespread health concerns and geopolitical conditions on our business and operations; risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations; the ability to successfully conduct clinical trials for our product candidate; the availability of sufficient resources and the timing and ability of Savara to raise additional capital as needed to fund continued operations. The risks and uncertainties facing Savara are described more fully in Savara's filings with the Securities and Exchange Commission, including our filings on Form 8-K, our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. You are cautioned not to place undue reliance on our 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. Third-party information included herein has been obtained from sources believed to be reliable, but the accuracy or completeness of such information is not guaranteed by, and should not be construed as a representation by, the Company. Additionally, this presentation includes internal research and estimates performed by the Company, which have not been independently verified. MOLBREEVI (molgramostim inhalation solution) is an investigational product that has not been approved for sale or determined to be safe or effective by the U.S. Food & Drug Administration or any regulatory authority. MOLBREEVI, MY MOLBREEVI and aPAP ClearPath are trademarks of Savara. All other trademarks included herein are the property of the owners thereof and are used for reference purposes only.

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![Slide 3](g12513ex99_1s3g1.jpg)

Executive Leadership Team© Savara Inc. All Rights Reserved. 1zxza Matthew Pauls, J.D., M.B.A. Chair & Chief Executive Officer Anne Erickson Chief Business Officer Dave Lowrance Chief Financial & Administrative Officer Rob Lutz, M.B.A. Chief Operating Officer Braden Parker, M.B.A. Chief Commercial Officer Ray Pratt, M.D. FACP Chief Medical Officer Sid Advant, Ph.D. EVP, Global Technical Operations Yasmine Wasfi, M.D., Ph.D. EVP, Clinical Operations/Development Brian Robinson, M.D. EVP, Global Medical Affairs Kate McCabe Chief Legal Officer Charles LaPree EVP, Global Regulatory Affairs

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![Slide 4](g12513ex99_1s4g1.jpg)

Autoimmune Pulmonary Alveolar Proteinosis (autoimmune PAP) Overview and Burden of Disease© Savara Inc. All Rights Reserved.

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![Slide 5](g12513ex99_1s5g1.jpg)

Autoimmune PAP: Disease of Alveolar Macrophage Dysfunction© Savara Inc. All Rights Reserved. Alveoli need surfactant to keep from collapsing GM-CSF is critical for alveolar macrophage function and allows for alveolar surfactant homeostasis, structure, function, and host defense NORMAL vs ABNORMAL ALVEOLUS Surfactant accumulation blocks movement of oxygen from the alveoli into the blood Reduced blood oxygenation results in difficulty breathing and, ultimately, hypoxemic respiratory failure Rare lung disease caused by GM-CSF autoantibodies which block GM-CSF signaling and reduce surfactant clearance Autoimmune PAP GM-CSF Autoantibodies GM-CSF GM-CSF autoantibodies Alveolus in autoimmune PAP Normal Alveolus Thin surfactant layer Thick surfactant layer Alveolar epithelial cells GM-CSF GM-CSF Normal oxygen delivery Reduced oxygen delivery Foamy alveolar macrophage (lipid filled) Normal alveolar macrophage Air-filled alveolus Surfactant-filled alveolus

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![Slide 6](g12513ex99_1s6g1.jpg)

Autoimmune PAP is a Rare, Long-Term, Chronic Lung Disease No approved drugs in the U.S. or Europe for autoimmune PAP, only treatment option is an invasive procedure© Savara Inc. All Rights Reserved. Progressive Shortness of Breath With impaired gas exchange, patients may experience shortness of breath At first it occurs upon exertion, but as disease progresses, it can occur even when a person is at rest Cough and Episodes of Fever Cough, sputum production, and episodes of fever, especially if secondary lung infection develops Serious infections, the most common and threatening complications of autoimmune PAP, occur in 5–13% of patients and account for 18–20% of deaths1-4 Increased Risk of Infection Over time, autoimmune PAP can lead to pulmonary fibrosis and respiratory failure which can be fatal and may require lung transplantation 1. Trapnell Nat Rev Dis Primers 2019; 2. Seymour AJRCCM 2002; 3. Inoue AJRCCM 2008; 4. Jouneau Respirology 2020 Fibrosis and Lung Transplant Fatigue, Decreased Exercise Tolerance Fatigue and significantly reduced exercise capacity can dramatically impact the simplest of daily activities, e.g., getting winded walking up a flight of stairs

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![Slide 7](g12513ex99_1s7g1.jpg)

Requires insertion of double-lumen endobronchial tube for lung separation Treated lung is repeatedly filled with up to 15-50L of saline and then drained by gravity Patient is percussed to emulsify the surfactant sediment Saline is drained by gravity and continued until lavage fluid becomes clear A Lung Lavage is an Invasive Procedure Performed in a Tertiary Center and is Not Standardized© Savara Inc. All Rights Reserved. Whole Lung Lavage (WLL): Performed under anesthesia and requires hospitalization, a team of experienced HCPs, and surgical resources Does not correct underlying pathophysiology of the disease or prevent abnormal surfactant accumulation and often needs to be repeated Patients describe WLL as burdensome and emotionally taxing Long-term negative impact (potential lung damage) of repeated WLL procedures is unknown Sources: 1: Campo, Assessment and Management of PAP in a Reference Center, Orphanet Jour. of Rare Dis., 2013; 2: Campo, Nat. History of PAP Data from Italian Nat. Reference Center, ERJ, 2019.; Seymour, J. J. Pulmonary alveolar proteinosis: Progress in the First 44 Years, Am. J. Respir Crit. Care Med, 2002. 3: Udwadia, Jain. NEJM (2007) 357:19, 4 McCarthy, Autoimmune Pulmonary Alveolar Proteinosis, Amer. Journal of Respiratory and Critical Care Med., 2022.

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![Slide 8](g12513ex99_1s8g1.jpg)© Savara Inc. All Rights Reserved. Disease Burden: Autoimmune PAP Patients Have Significantly Higher Rates of Healthcare Utilization and Comorbidities1 Charlson Comorbidity Index (CCI)\* Outpatient/Inpatient visits (~11 outpatient/~2 inpatient per year) Emergency Room Visits (~1 per year) Longer hospital stays (~3 days per year) PAP: 1.44 ± 1.96 Age, Gender, Geography Matched Controls: 0.41 ± 1.11 P value: <0.05 PAP: 10.7 ± 10.9 outpatient/ 2.3 ± 7.8 inpatient Age, Gender, Geography Matched Controls: 4.0 ± 7.0 outpatient/ 0.38 ± 2.5 inpatient P value: <0.001 outpatient/0.001 inpatient PAP: 1.0 ± 2.3 Age, Gender, Geography Matched Controls: 0.29 ± 1.0 P value: <0.001 PAP: 2.8 ± 7.6 Age, Gender, Geography Matched Controls: 0.56 ± 2.9 P value: <0.001 \*Developed to classify comorbid conditions which may influence mortality risk. Most widely used comorbidity index used to determine survival rates in patients with multiple comorbidities. 3.5x Vs. matched controls +245% Vs. matched controls +167% outpatient +505% inpatient Vs. matched controls 5.0x Vs. matched controls Lee, et al. Orphanet J Rare Dis. 2025; 20:73.

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![Slide 9](g12513ex99_1s9g1.jpg)

Patient Perspectives on Living with Autoimmune PAP© Savara Inc. All Rights Reserved. TO HEAR THESE PATIENTS' STORIES, PLEASE VISIT WWW.SAVARAPHARMA.COM With whole lung lavage being the only treatment option, it's terrifying. The best way to describe it in layman's terms, it's like a car wash for your lungs. Having an alternative treatment from whole lung lavage would mean the world to me, it would give me the opportunity to get my life back. To give me the freedom of what I had before autoimmune PAP. - Kelsea " " Overall, when the surfactant builds up, I notice how much more tired I get, walking from the basement to the first floor will wind me, I'll get chest congestion and cough up yellow mucus. So, every 8 months surfactant builds up and I'll need the whole lung lavage, and it causes a lot of anxiety knowing I will need to keep having them. Having had multiple lung lavages over the years; there needs to be more options when it comes to managing autoimmune PAP." - Eric " "

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![Slide 10](g12513ex99_1s10g1.jpg)

Disease Burden: Journey of an Autoimmune PAP Patient1© Savara Inc. All Rights Reserved. MOLBREEVI\* Clinically meaningful positive Phase 3 results that suggest MOLBREEVI may address the pathophysiology of autoimmune PAP Favorable benefit/risk profile Well tolerated Dec. 2025: Plan to resubmit BLA Symptoms and Experience Before Diagnosis Diagnosis with Autoimmune PAP Treatment CURRENT JOURNEY POTENTIAL FUTURE JOURNEY FROM FIRST EXPERIENCING SYMPTOMS TO SEEING A PHYSICIAN AVERAGE TIME FROM FIRST SEEING A PHYSICIAN TO DIAGNOSIS 12 MONTHS 18 MONTHS Autoimmune PAP diagnosis Insidious development Battery of diagnostic tests Typically misdiagnosed as pneumonia coupled with incorrect treatment Cycles of misdiagnosis for months to years Eventual referral to a pulmonologist for full pulmonary work-up Whole lung lavage (WLL) Potential off-label therapies aPAP ClearPath Testing Program Created to reduce barriers to testing and educate physicians and patients on how testing may be used to help confirm or rule out autoimmune PAP 1. Ataya, et al. J.R.Med.2025 Feb.11:107990 \*MOLBREEVI is the FDA and EMA conditionally accepted trade name for molgramostim inhalation solution. It is not approved in any indication.

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![Slide 11](g12513ex99_1s11g1.jpg)

MOLBREEVI\*© Savara Inc. All Rights Reserved. \*MOLBREEVI is the FDA and EMA conditionally accepted trade name for molgramostim inhalation solution. It is not approved in any indication. (molgramostim inhalation solution)

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![Slide 12](g12513ex99_1s12g1.jpg)© Savara Inc. All Rights Reserved. Once daily 300 µg inhaled MOLBREEVI (inhaled biologic) Proprietary eFlow® Nebulizer System (PARI) Optimized for MOLBREEVI administration Well-established manufacturer of devices used for inhalation therapy 5 FDA approved nebulizers based on eFlow® Technology Savara Investigational Drug-Device Treatment for Autoimmune PAP Nebulization Time: ~5 minutes

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![Slide 13](g12513ex99_1s13g1.jpg)

Summary of IMPALA-2 Results© Savara Inc. All Rights Reserved. DLco%, hemoglobin-adjusted percent predicted diffusing capacity of the lungs for carbon monoxide; SGRQ, St. Georges Respiratory Questionnaire. 1Statistically significant.2Nominally significant. Change from baseline to Week 24 in DLco% (p=0.0007)1 PRIMARY ENDPOINT (MOLBREEVI vs placebo) Change from baseline to Week 48 in DLCO% (p=0.0008)1 SECONDARY ENDPOINTS (MOLBREEVI vs placebo) Change from baseline to Week 24 in SGRQ Total Score (p=0.0072)1 Change from baseline to Week 24 in SGRQ Activity Score (p=0.0149)2 Change from baseline to Week 48 in Exercise Capacity (p=0.0234)2 Well-tolerated; low treatment discontinuation rate (3%), none due to drug-related adverse events SAFETY and TOLERABILITY 100% of patients who completed the double-blind period enrolled into the open-label period

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![Slide 14](g12513ex99_1s14g1.jpg)

Phase 3 IMPALA-2 Trial Design© Savara Inc. All Rights Reserved. PRIMARY ENDPOINT Change from baseline in DLCO at W24 6-Week Screening Period 1: Double-blind (top line) Period 2: Open-label (ongoing, not part of top line results) SECONDARY ENDPOINTS Change from baseline in: DLCO at W48 SGRQ Total Score at W24 and W48 SGRQ Activity Score at W24 and W48 Exercise Capacity at W24 and 48 DLCO ≤70% predicted at first screening and baseline Change in % predicted DLCO <15% points to ensure stably impaired patients n=81 n=83 BL W48 W24 = Primary efficacy analyses MOLBREEVI 300 μg daily dosing placebo MOLBREEVI 300 μg daily dosing = Durability of efficacy / safety W144

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![Slide 15](g12513ex99_1s15g1.jpg)

Discontinuations in Double-Blind Period Were Low: 3% Participation in Open Label Period Was High: 100% of Double-Blind Period Completers© Savara Inc. All Rights Reserved. Screened (n=286) Randomized (n=164) MOLBREEVI n=81 Placebo n=83 Ineligible Patients (n=122) Week 48 Completers n=79 (97.5%) Week 48 Completers n=80 (96.4%) Treatment Discontinuation 2 AEs\* Treatment Discontinuation 1 AE\* 1 Pregnancy 1 Lost to follow up Entered Open Label Period n=160\*\* (100%) IMPALA-2 PATIENT DISPOSITION \*Not considered trial drug related \*\*One placebo patient stopped blinded trial drug but continued trial participation through Week 48 and entered the open label period

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![Slide 16](g12513ex99_1s16g1.jpg)

Demographics in IMPALA-2 Were Well-Balanced Across Treatment Groups© Savara Inc. All Rights Reserved. MOLBREEVI N=81 Placebo N=83 Age years Mean (SD) 50.8 (13.03) 48.4 (12.69) Sex n (%) Male Female 44 (54.3) 37 (45.7) 54 (65.1) 29 (34.9) Race n (%) White Asian Black or African American Other 38 (46.9) 36 (44.4) 3 (3.7) 4 (4.9) 40 (48.2) 37 (44.6) 2 (2.4) 4 (4.8) DLCO at baseline Mean (SD) 52.6 (11.71) 52.6 (10.39) DLCO stratification group ≤ 50% > 50% 31 (38.3) 50 (61.7) 32 (38.6) 51 (61.4)

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![Slide 17](g12513ex99_1s17g1.jpg)

IMPALA-2: MOLBREEVI Superior to PBO on Change from Baseline in DLCO at W24 (primary endpoint) and W48 (secondary endpoint)© Savara Inc. All Rights Reserved. The minimal clinically important difference (MCID) in change in DLCO is 10% in progressive pulmonary fibrosis and 11% in severe COPD.1 MOLBREEVI in autoimmune PAP showed a ~10% increase from baseline at W24 and ~12% increase from baseline at W48. LSM Change from Baseline Between-Group LSM Difference\* P-value Week 24 Mol: 9.8 Pbo: 3.8 6.00 0.0007 Week 48 Mol: 11.6 Pbo: 4.7 6.90 0.0008 1 Raghu G, Remy-Jardin M, Richeldi L, et al. Idiopathic Pulmonary Fibrosis (an Update) and Progressive Pulmonary Fibrosis in Adults: An Official ATS/ERS/JRS/ALAT Clinical Practice Guideline. Am J Respir Crit Care Med 2022;205:e18-e47; Horita N, Miyazawa N, Kojima R, Inoue M, Ishigatsubo Y, Kaneko T. Minimum clinically important difference in diffusing capacity of the lungs for carbon monoxide among patients with severe and very severe chronic obstructive pulmonary disease. COPD 2015;12:31-7. \*Mean change from baseline compared with placebo. P-values are for difference in LSM compared with placebo and met the threshold required in the pre-specified hierarchical testing procedure to control the overall Type 1 error rate at 0.05. DLco%, hemoglobin-adjusted percent predicted diffusing capacity of the lungs for carbon monoxide; LSM, least squares mean; Mol, MOLBREEVI; Pbo, placebo; SE, standard error. Placebo (n=83) MOLBREEVI (n=81)

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![Slide 18](g12513ex99_1s18g1.jpg)

IMPALA-2: MOLBREEVI Superior to PBO on Change From Baseline in SGRQ Total Score at W24, Favorability Continues Through W48© Savara Inc. All Rights Reserved. LSM Change from Baseline Between-Group LSM Difference\* P-value Week 24 Mol: -11.5 Pbo: -4.9 -6.59 0.0072† Week 48 Mol: -10.7 Pbo: -5.9 -4.87 0.1046 \*Mean change from baseline compared with placebo. P-values are for difference in LSM compared with placebo. †Statistically significant: met the threshold required in pre-specified hierarchical testing procedure to control the overall Type 1 error rate at 0.05. HRQoL, health-related quality of life; LSM, least squares mean; Mol, MOLBREEVI; Pbo, placebo; SE, standard error; SGRQ, St. George's Respiratory Questionnaire. Placebo (n=83) MOLBREEVI (n=81)

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![Slide 19](g12513ex99_1s19g1.jpg)

IMPALA-2: MOLBREEVI Nominally Significant on Change From Baseline in SGRQ Activity Score at W24, Favorability Continues Through W48© Savara Inc. All Rights Reserved. \*Mean change from baseline compared with placebo. P-values are for difference in LSM compared with placebo. †P-value nominally significant: P-value ≤0.05 but did not meet the p-value threshold required in the pre-specified hierarchical testing procedure. HRQoL, health-related quality of life; LSM, least squares mean; Mol, MOLBREEVI; Pbo, placebo; SE, standard error; SGRQ, St. George's Respiratory Questionnaire. LSM Change from Baseline Between-Group LSM Difference\* P-value Week 24 Mol: -13.0 Pbo: -5.2 -7.81 0.0149† Week 48 Mol: -13.4 Pbo: -7.4 -5.99 0.1216 Placebo (n=83) MOLBREEVI (n=81)

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![Slide 20](g12513ex99_1s20g1.jpg)

IMPALA-2: MOLBREEVI Nominally Significant on Change From Baseline in Exercise Capacity (Peak METs) at W48© Savara Inc. All Rights Reserved. \*Mean change from baseline compared with placebo. P-values are for difference in LSM compared with placebo. †P-value nominally significant: P-value ≤0.05 but did not meet the p-value threshold required in pre-specified hierarchical testing procedure. LSM, least squares mean; MET, metabolic equivalent; Mol, MOLBREEVI; Pbo, placebo; SE, standard error. Placebo (n=83) MOLBREEVI (n=81) LSM Change from Baseline Between-Group LSM Difference\* P-value Week 24 Mol: 1.11 Pbo: 0.70 0.41 0.0845 Week 48 Mol: 1.13 Pbo: 0.58 0.55 0.0234†

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![Slide 21](g12513ex99_1s21g1.jpg)

IMPALA-2 Demonstrated That MOLBREEVI Reduces Pulmonary Surfactant Burden: Ground Glass Opacity Score at W24© Savara Inc. All Rights Reserved. \*P-value based on post-hoc analysis. GGO, ground glass opacity. MOLBREEVI (N=78) Placebo (N=79) p=0.0004\* Baseline After 24 weeks on MOLBREEVI

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![Slide 22](g12513ex99_1s22g1.jpg)

Whole Lung Lavage (WLL) was Permitted as a Rescue Therapy During the IMPALA-2 Trial© Savara Inc. All Rights Reserved. 17 (~10%) patients underwent at least one lung lavage

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![Slide 23](g12513ex99_1s23g1.jpg)

IMPALA-2 Safety Summary: MOLBREEVI Was Well-Tolerated© Savara Inc. All Rights Reserved. Treatment Emergent Adverse Events MOLBREEVI N=81 n (%) Placebo N=83 n (%) Any 69 (85) 71 (86) Severe 13 (16) 16 (19) Treatment related 20 (25) 16 (19) Serious 14 (17) 20 (24) Not treatment related 13 (16) 20 (24) Treatment related1 1 (1) 0 Leading to death 0 0 Leading to trial drug discontinuation 2 (2) 1 (1) Special interest (chest pain, hypersensitivity) 9 (11) 6 (7) Serious and of special interest 0 1 (1) 1SAE of delusions resulting in psychiatric hospitalization in patient with a past medical history of seizure disorder treated with levetiracetam; the event was assessed as possibly related to study drug by the investigator.

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![Slide 24](g12513ex99_1s24g1.jpg)

IMPALA-2 Safety Summary: Most Common Adverse Events© Savara Inc. All Rights Reserved. ADVERSE EVENTS IN >10% OF PATIENTS IN ANY TREATMENT ARM DURING DOUBLE-BLIND TREATMENT PERIOD Treatment Emergent Adverse Events MOLBREEVI (N=81) n (%) Placebo (N=83) n (%) Any 69 (85) 71 (86) Most common COVID-19 18 (22) 8 (10) Cough 17 (21) 18 (22) Pyrexia 11 (14) 9 (11) Nasopharyngitis 11 (14) 7 (8) Arthralgia 9 (11) 7 (8) Headache 9 (11) 7 (8) Diarrhea 9 (11) 2 (2) Alveolar proteinosis 4 (5) 12 (14) Treatment related 20 (25) 16 (19)

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![Slide 25](g12513ex99_1s25g1.jpg)

Overview of IMPALA-2 Results: Top Line, DSS, Responder Analyses, and GGO Data© Savara Inc. All Rights Reserved. Measure Timeframe P-Value / Results Pulmonary gas exchange DLCO% Week 24 Week 48 0.0007 0.0008 Disease Severity Score (DSS) Responder Analysis - DLco% Week 24 Week 48 Weeks 24 and 48 0.0239\* 0.0006\* Significantly higher proportions of patients achieved each responder threshold (5%, 7%,10%) with MOLBREEVI compared to placebo Respiratory health-related quality of life SGRQ Total Score Week 24 Week 48 0.0072 0.1046 SGRQ Activity Score Responder Analysis – SGRQ Total Week 24 Week 48 Week 24 Week 48 0.0149† 0.1216 Numerically (W24) & significantly (W48) higher proportions of patients achieved each responder threshold (-4, -8, -12-points) with MOLBREEVI compared to placebo Patient functionality Exercise Capacity (Peak METs) Week 24 Week 48 0.0845 0.0234† Surfactant burden Chest Computed Tomography – GGO Week 24 0.0004\* Whole Lung Lavage Over 48 Weeks Numerically favorable to MOLBREEVI compared to placebo \*Post-hoc analysis. †P-value nominally significant: P-value ≤ 0.0500 but did not meet the p-value threshold required in the pre-specified hierarchical testing procedure. DLco%, hemoglobin-adjusted percent predicted diffusing capacity of the lungs for carbon monoxide; GGO, ground glass opacification; METs, metabolic equivalents; SGRQ, St. George's Respiratory Questionnaire.

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![Slide 26](g12513ex99_1s26g1.jpg)

Results from IMPALA and IMPALA-2 Clinical Trials Were Published in the New England Journal of Medicine© Savara Inc. All Rights Reserved. Published online on 9/2/2020. Published online on 8/21/2025. IMPALA RESULTS IMPALA 2 RESULTS

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Real-World, Retrospective Outcomes Data Suggest MOLBREEVI Addresses Underlying Pathophysiology of Autoimmune PAP Case Series Evaluated 5 aPAP Patients Who Received MOLBREEVI Through Single Patient Access© Savara Inc. All Rights Reserved. Montaño C, Bendstrup E, Rønnov-Jessen I, et al. ERJ Open Res 2025;11:00567-2024. MOLBREEVI treatment led to Improved lung function Decreased disease burden Restored patient functionality Reduced clinical symptoms 0 patients required WLL after >1 year on MOLBREEVI Treatment was well tolerated, no reported SAEs Prior to Treatment Post Treatment All 5 patients had CT tomography scan patterns Bronchoalveolar lavage findings Characteristic PAP symptoms Positive GM-CSF antibody test Mean duration of therapy: 4.2 years 4 patients had ≥ 1 WLL prior to taking MOLBREEVI ALL 5 PATIENTS RESPONDED TO TREATMENT WITH MOLBREEVI

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Regulatory and Intellectual Property© Savara Inc. All Rights Reserved.

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Planned U.S. and European Regulatory Timeline US Started BLA Rolling Submission EU Completed BLALA Submission BLA Resubmission with Fuji as DS Manufacturer Potential Approval\* MAA Submission Potential Approval© Savara Inc. All Rights Reserved. \*Assumes Priority Review is granted by the FDA UK MAA Submission Potential Approval

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MOLBREEVI in Autoimmune PAP Regulatory and IP Summary© Savara Inc. All Rights Reserved. Upon Biologics License Application (BLA) approval FDA would grant 12 years marketing exclusivity BIOLOGIC EXCLUSIVITY US Orphan Drug Designation (eligible for 7 years exclusivity) Fast Track Designation Breakthrough Therapy Designation EUROPE Orphan Drug Designation (eligible for 10 years exclusivity) UK Innovation Passport Designation Promising Innovative Medicine Designation REGULATORY DESIGNATIONS INTELLECTUAL PROPERTY Pending patent applications for drug formulation and methods of use including treating aPAP with MOLBREEVI Worldwide exclusive license to proprietary eFlow® Nebulizer System (PARI) for MOLBREEVI in aPAP and pending joint patent application with PARI for the drug/device combination Proprietary cell bank

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Commercial Update© Savara Inc. All Rights Reserved.

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Commercial Launch Planning Advancing Against Near-Term Objectives© Savara Inc. All Rights Reserved. Expand awareness of autoimmune PAP and educate on the importance of early testing Build critical capabilities to facilitate access to MOLBREEVI post approval Hire and onboard key commercial roles to expand core activities AWARENESS INFRASTRUCTURE PERSONNEL

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Autoimmune PAP Disease State Awareness Campaign Multi-channel effort across healthcare professionals (HCP) and patients© Savara Inc. All Rights Reserved. HCP DSA Campaign Patient DSA Campaign

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aPAP ClearPath: No Charge Third-Party Testing Program in the U.S.\*© Savara Inc. All Rights Reserved. Launched March 2025 Simple finger prick performed in a physician's office Removes logistical challenges to serum testing ILD program to be expanded, leveraging DBS test\*\* SERUM TEST Launched December 2023 Venous blood draw in a physician's office Used in Interstitial Lung Disease (ILD) Clinic Pilot Program\*\* DRIED BLOOD SPOT (DBS) TEST \* Patients, healthcare professionals, or payers are not charged for this program. \*\* HCP's and patients who use this program have no obligation to recommend, purchase, order, prescribe, promote, administer, use, or support any Savara product or product candidate. Created to reduce barriers to GM-CSF autoantibody testing and educate physicians and patients on how testing may be used to help confirm or rule out autoimmune PAP\*\*

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Exclusive Specialty Pharmacy with Integrated Patient Services Right-sized model for first-to-market solution for orphan condition© Savara Inc. All Rights Reserved. Single source pharmacy will service all patients with direct shipments and ongoing support Smaller patient population is best served by a single specialty pharmacy Consistency Seamless provision of services Clear visibility to all patient data to inform key performance indicators Currently evaluating partners Relevant pulmonary experience Demonstrated track record of exceptional patient and provider services SPECIALTY PHARMACY Insert Image

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MyMolbreevi: Best in Class Support Program in Development Program aims to reduce access barriers for appropriate MOLBREEVI patients post approval© Savara Inc. All Rights Reserved. Clinical education Pharmacist calls Device training Nurse educators Adherence support Financial assistance Commercial co-pay program Free drug for eligible patients PATIENT SERVICES PRESCRIBER SERVICES Streamlined prescribing Prior authorization checklist Sample letter of medical necessity Sample letter of appeal Insurance services Prior authorization Appeals Case management approach Dedicated care navigator Single point of contact

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Overwhelming Support for MOLBREEVI Across Stakeholders© Savara Inc. All Rights Reserved. U.S. PATIENTS U.S. PULMONOLOGISTS 83% Likely to prescribe MOLBREEVI regardless of severity of disease Perceived MOLBREEVI as superior to current options based on: Overall efficacy Simple, standard nebulizer Favorable safety profile FDA approval U.S. PAYERS 87% Intend to cover MOLBREEVI with typical Prior Authorization criteria when priced between $300-500K annually Not concerned about impact on pharmacy budget Recognize the significant disease burden associated with autoimmune PAP 100% Think new, non-invasive PAP treatments are needed WOULD ask their doctor to prescribe MOLBREEVI WOULD take MOLBREEVI if their doctor recommended it Savara 2024 Qualitative Research: N=10 US KOLs and high-volume pulmonologists; Quantitative research: N=78 HCPs Savara 2024 U.S. payer pricing and reimbursement research: N=10 representing ~88M covered lives Savara 2024 Patient Advisory Board meetings: N = 7 aPAP patients

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Market Development Team Broadens market reach and accelerates pre-launch activities© Savara Inc. All Rights Reserved. Projected market development team of ~25 people (including leadership) Target list of accounts expanded beyond current field medical list to broaden reach Territory managers will be added in waves gated to key milestones Key activities include: Profiling accounts to gain line of sight into currently diagnosed patients Autoimmune PAP disease awareness and education Antibody testing education Head, Market Development Regional Director Regional Director Regional Director Territory Managers Territory Managers Territory Managers

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Studies on Autoimmune PAP Epidemiology Range From 6-26 Patients P/Million© Savara Inc. All Rights Reserved. REFERENCE METHODOLOGY INCIDENCE PER MILLION DIAGNOSED PREVALENCE PER MILLION DIAGNOSED PREVALENCE Inoue 2008 Registry based in Niigata, Japan 0.48 (0.23-1.00) 6.2 (3.8-10.3) McCarthy 2018 US insurance claims data, 2008-2012 Not reported 6.3 (5.2-7.6) Kimura 2025 Japanese insurance claims data, 2014-2020 Avg: 1.57 (1.4-1.8) 8.5 (7.1-9.7) REFERENCE METHODOLOGY INCIDENCE PER MILLION DIAGNOSED PREVALENCE PER MILLION DIAGNOSED PREVALENCE Kitamura 2019 Update of Niigata registry 1.66 (1.2-2.2) 26.6 (9.0-73.0) IMPLIED US PATIENTS IMPLIED EU\* PATIENTS IMPLIED JAPAN PATIENTS TOTAL IMPLIED PATIENTS ~2,077 ~2,027 ~775 ~4,879 ~2,111 ~2,060 ~788 ~4,959 ~2,848 ~2,778 ~1,063 ~6,689 IMPLIED US PATIENTS IMPLIED EU PATIENTS IMPLIED JAPAN PATIENTS TOTAL IMPLIED PATIENTS ~8,911 ~8,698 ~3,325 ~20,934 Published Autoimmune PAP Epidemiology Studies \*EU = France, German, Italy, Spain + UK Inoue, et al Am J Respir Crit Care Med Vol 177. pp 752–762, 2008; McCarthy, et al. Orphanet Journal of Rare Diseases (2018) 13:129; Kimura, et al. ERJ Open Res 2025; 11: 00666-2024; Kitamura, et al. ERJ Open Res 2019; 5: 00190-2018

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2025 U.S. Claims Data Analysis Indicates Autoimmune PAP Market is ~50% Larger than Previously Projected© Savara Inc. All Rights Reserved. \* Reporting Period 2008-2023; Patient Stabilization Period (3/1/2021 - 2/28/2023), projected \*\* Reporting Period: 2017-2025; Patient Stabilization Period (1/1/2023 to 6/30/2025), not projected With a 3-4 month data lag in claims, not all H1 2025 claims are present Received a PAP diagnosis – ICD-10 code of: J84.01 Filed active claims within the last 2.5 years Validated with additional clinical inclusion criteria At least 2+ J84.01 diagnoses, 30+ days apart OR At least one J84.01 diagnosis and ≥ 1 of the following: Diagnosed or referred by appropriate HCP specialty 3+ pulmonologist visits Qualifying procedures or treatments Associated symptom diagnoses PAP PATIENT ELIGIBILITY 2023 U.S. Claims Data Analysis\* 2025 U.S. Claims Data Analysis\*\* Diagnosed PAP Patients (Unique Patients with J84.01 Claim) 4,041 6,158 Autoimmune PAP Patients (~90% of Diagnosed PAP Patients) 3,637 5,542 U.S. AUTOIMMUNE PAP MARKET ~50% increase Reduced by 10% for autoimmune PAP

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More Comprehensive Data Source, Larger Number of Records, and Newer Claims Account for Increase in Patients© Savara Inc. All Rights Reserved. 2025 U.S. CLAIMS DATA ANALYSIS (Second Source Dataset) 2023 U.S. CLAIMS DATA ANALYSIS ~3,600 ~5,500 Coverage: ~300M lives Dataset: Open-source Data capture: ~30B records Reporting period: 2008-2023 Patient stabilization period\*: 2021 – 2023 Coverage: ~300M lives Dataset: Open- and closed-source Data capture: ~100B records Reporting period: 2017-2025 Patient stabilization period\*\*: 2023 – 2025 NOT PROJECTED FOR TOTAL U.S. POPULATION \*Each patient must have evidence of at least 1 medical or pharmacy claim in last 2 years. Patient Stabilization Period (3/1/2021 - 2/28/2023), projected \*\* Each patient must have evidence of at least 1 medical or pharmacy claim in last 2.5 years. Patient Stabilization Period (1/1/2023 to 6/30/2025), not projected PROJECTED FOR TOTAL U.S. POPULATION

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U.S. Centers Prioritized Based on Autoimmune PAP Experience Goal: Line of Sight to 1,000 Patients at Launch to Maximize Early Launch Phase© Savara Inc. All Rights Reserved. COEs† ILD Centers\* General Pulmonary Centers U.S. PATIENTS / HCP HEAT MAP1 1 Data from 2023 U.S. Insurance Claims Analysis conducted by Savara Currently have line of sight to ~750 patients Confirmed location Treating physician Patient management †PAP Center of Excellence (COE) includes healthcare organizations listed on PAP Foundation website, IMPALA-2 clinical trial sites, and other sites of expertise \*ILD clinics are dedicated to the management of patients with a wide variety of interstitial lung diseases that can range from pulmonary fibrosis to rare lung diseases

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Europe (EU4+UK) Market Development is Underway 43© Savara Inc. All Rights Reserved. TREATMENT CENTER MAPPING1 Country Key Centers1 Est. TAM2 Germany 11 ~1,300 UK 25 ~1,104 France 24 ~1,104 Italy 16 ~944 Spain 12 ~784 Total 88 ~5,200 1 Savara 2024 EU4+ UK Primary (N= 6 EU4+ UK Principal Investigators, 5 EU4+UK Lab Directors) and Secondary Market Research 2 Data from 2025 U.S. Insurance Claims Analysis commissioned by Savara and extrapolated based on geographic population; TAM, Total addressable market 3 Enrolled across 15 IMPALA-2 sites in the EU, UK, and Turkey Autoimmune PAP Centers of Excellence identified (8) 62 patients in Europe enrolled in IMPALA-2 trial open-label extension3

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MOLBREEVI: U.S. Commercial Opportunity© Savara Inc. All Rights Reserved. MOLBREEVI Clinically meaningful benefit Strong stakeholder interest Orphan drug pricing potential Chronic dosing Small customer facing footprint Exclusive pharmacy network 12-year biologic exclusivity (U.S.) Biosimilar competition unlikely High disease burden No FDA approved therapies Whole lung lavage is invasive and not standardized Significant Unmet Need Significant Commercial Opportunity Efficient Rare Disease Model Long Term Exclusivity

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Financials© Savara Inc. All Rights Reserved.

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Financial Highlights© Savara Inc. All Rights Reserved. Cash runway into 1Q 2027 ~$146M in cash and short-term investments as of 6/30/25 Strong investor support with coverage from 7 equity research analysts ANALYST COVERAGE Jefferies Andrew Tsai Piper Sandler Yasmeen Rahimi, PhD Guggenheim Securities Vamil Divan, MD, MBA Oppenheimer Andreas Argyrides Citizens Jonathan Wolleben H.C. Wainwright Andrew Fein Wells Fargo Tiago Fauth

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Near- and Long-Term U.S. Market Opportunity in Autoimmune PAP is Sizeable© Savara Inc. All Rights Reserved. Current U.S. TAM of autoimmune PAP patients >$2B Potential U.S. Opportunity $400K-$500K ~5,500 Orphan rare disease potential pricing power Patents currently being prosecuted Multiple Biologic exclusivity in U.S. upon approval Durable revenue stream with biosimilar competition unlikely 12-years Long-term TAM = Total addressable market

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THANK YOU© Savara Inc. All Rights Reserved.