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Savara Receives Refusal to File (RTF) Letter From the U.S. Food and Drug Administration (FDA) for the Biologics License Application (BLA) for MOLBREEVI* to Treat Patients With Autoimmune Pulmonary Alveolar Proteinosis (autoimmune PAP)

Savara Receives Refusal to File (RTF) Letter From the U.S. Food and Drug Administration (FDA) for the Biologics License Application (BLA) for MOLBREEVI* to Treat Patients With Autoimmune Pulmonary Alveolar Proteinosis (autoimmune PAP)

LANGHORNE, Pa.--(BUSINESS WIRE)--May 27, 2025--
Savara Inc. (Nasdaq: SVRA) (the Company), a clinical-stage biopharmaceutical company focused on rare respiratory diseases, today announced that the Company received an RTF letter from the FDA for the BLA of MOLBREEVI as a therapy to treat patients with autoimmune PAP.
Upon preliminary review, the FDA determined that the BLA submitted in March 2025 was not sufficiently complete to permit substantive review and requested additional data related to Chemistry, Manufacturing, and Controls (CMC). The RTF was not the result of safety concerns, and the FDA did not request or recommend additional efficacy studies. Within the next 30 days, the Company intends to request a Type A meeting with the Agency. Typically, Type A meetings are granted by the FDA within 30 days of the request.
'The requested CMC data outlined in the RTF letter are currently being generated, and we look forward to meeting with the FDA to align on next steps,' said Matt Pauls, Chair and Chief Executive Officer, Savara. 'Based on our understanding of the letter, we are confident we can thoroughly address the Agency's request and expect to resubmit our BLA in the fourth quarter of 2025. We remain highly confident in our program for autoimmune PAP and believe that our clinical data demonstrate that MOLBREEVI improves pulmonary gas transfer and respiratory health-related quality of life in this rare disease.'
Pauls continued, 'As outlined in our Annual Report, we are working to establish a redundant supply chain. Pursuant to that strategy, we remain on track to complete the technology transfer with our second-source drug substance contract manufacturer in the fall. We have completed three upstream process performance qualification (PPQ) batches, are in the process of completing our downstream PPQ campaign and have begun our analytical comparability analysis.'
The RTF does not impact previous designations granted by regulators for MOLBREEVI in autoimmune PAP. MOLBREEVI in autoimmune PAP has been granted Fast Track and Breakthrough Therapy Designations by the FDA, Orphan Drug Designation by the FDA and the European Medicines Agency (EMA), as well as Innovation Passport (IP) and Promising Innovative Medicine (PIM) designations by the UK's Medicines and Healthcare Products Regulatory Agency (MHRA).
About Autoimmune Pulmonary Alveolar Proteinosis (autoimmune PAP)
Autoimmune PAP is a rare lung disease characterized by the abnormal build-up of surfactant in the alveoli of the lungs. Surfactant consists of proteins and lipids and is an important physiological substance that lines the alveoli to prevent them from collapsing. In a healthy lung, excess surfactant is cleared and digested by immune cells called alveolar macrophages. Alveolar macrophages need to be stimulated by granulocyte-macrophage colony-stimulating factor (GM-CSF) to function properly in clearing surfactant, but in autoimmune PAP, GM-CSF is neutralized by antibodies against GM-CSF, rendering macrophages unable to adequately clear surfactant. As a result, an excess of surfactant accumulates in the alveoli, causing impaired gas exchange, resulting in clinical symptoms of shortness of breath, often with cough and frequent fatigue. Patients may also experience episodes of fever, chest pain, or coughing up blood, especially if secondary lung infection develops. In the long term, the disease can lead to serious complications, including lung fibrosis and the need for a lung transplant.
About Savara
Savara is a clinical-stage biopharmaceutical company focused on rare respiratory diseases. Our 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 an investigational eFlow ® Nebulizer System (PARI Pharma GmbH) specifically developed for inhalation of a large molecule. 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 and LinkedIn.
*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.
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 Company's intention to request a Type A meeting with the FDA, our confidence in our ability to thoroughly address the Agency's request, our expectations regarding the resubmission of the BLA and the timing of the resubmission, our belief that our clinical data demonstrate that MOLBREEVI improves pulmonary gas transfer and respiratory health-related quality of life in autoimmune PAP, and that we remain on track to complete the technology transfer with our second-source contract manufacturer in the fall. 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 associated with our ability to successfully develop, obtain regulatory approval for, and commercialize MOLBREEVI for autoimmune PAP; the occurrence and outcome of the planned Type A meeting with the FDA; our ability to address the FDA's request and successfully meet the requirements for resubmission; our 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; 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/20250527493563/en/
CONTACT: Media and Investor Relations Contact
Savara Inc.
Temre Johnson, Executive Director, Corporate Affairs
[email protected]
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BIOTECHNOLOGY FDA HEALTH PHARMACEUTICAL CLINICAL TRIALS
SOURCE: Savara Inc.
Copyright Business Wire 2025.
PUB: 05/27/2025 08:05 AM/DISC: 05/27/2025 08:05 AM
http://www.businesswire.com/news/home/20250527493563/en
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These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled 'Risk factors' and 'Cautionary note regarding forward-looking statements' in its Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on April 16, 2025, the sections headed 'Forward-looking Statements' and 'Risk Factors' in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this press release do not constitute profit forecast by the Company's management. As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contact Information Investor Relations:Hogan Wan, Head of IR and StrategyAscentage 512 85557777 Stephanie CarringtonICR HealthcareAscentageIR@ (646) 277-1282 Media Relations:Jon YuICR HealthcareAscentagePR@ (646) 677-1855 Ascentage Pharma Group International Condensed consolidated statements of profit or loss (Amounts in thousands of Renminbi ('RMB') and U.S. dollar ('US$'), except for number of shares and per share data) For the Six Months Ended June 30, 2023 2024 2025 2025 RMB RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) REVENUE Intellectual property - 678,416 - - Products 129,533 124,823 212,874 29,716 Others 13,168 20,507 20,825 2,907 Total revenue 142,701 823,746 233,699 32,623 Cost of sales Products (18,154 ) (14,158 ) (20,659 ) (2,884 ) Others - (901 ) (991 ) (138 ) Total cost of sales (18,154 ) (15,059 ) (21,650 ) (3,022 ) Gross profit 124,547 808,687 212,049 29,601 Other income and gains 17,021 17,346 36,661 5,118 Selling and distribution expenses (83,319 ) (89,637 ) (137,787 ) (19,234 ) Administrative expenses (91,340 ) (86,988 ) (99,685 ) (13,915 ) Research and development expenses (309,814 ) (444,079 ) (528,561 ) (73,784 ) Other expenses (4,175 ) (7,106 ) (40,192 ) (5,612 ) Finance costs (52,719 ) (34,076 ) (27,798 ) (3,880 ) Share of profit/(loss) of a joint venture 196 (1,252 ) 1 - (LOSS)/PROFIT BEFORE TAX (399,603 ) 162,895 (585,312 ) (81,706 ) Income tax expense (2,746 ) (69 ) (5,512 ) (770 ) (LOSS)/PROFIT FOR THE PERIOD (402,349 ) 162,826 (590,824 ) (82,476 ) Attributable to: Ordinary equity holders of the Company (402,351 ) 163,001 (590,768 ) (82,468 ) Non-controlling interests 2 (175 ) (56 ) (8 ) (402,349 ) 162,826 (590,824 ) (82,476 ) (LOSS)/EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY Basic (1.47 ) 0.56 (1.73 ) (0.24 ) Diluted (1.47 ) 0.55 (1.73 ) (0.24 ) Ascentage Pharma Group International Condensed consolidated statements of comprehensive loss (Amounts in thousands of Renminbi and U.S. dollar, except for number of shares and per share data) For the Six Months Ended June 30, 2023 2024 2025 2025 RMB RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (LOSS)/PROFIT FOR THE PERIOD (402,349 ) 162,826 (590,824 ) (82,476 ) OTHER COMPREHENSIVE INCOME/(LOSS) Other comprehensive income that may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations (699 ) 40 1,095 153 Other comprehensive income that will not be reclassified to profit or loss in subsequent periods: Exchange differences on translation of the Company 40,479 2,229 (2,035 ) (284 ) OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD, NET OF TAX 39,780 2,269 (940 ) (131 ) TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD (362,569 ) 165,095 (591,764 ) (82,607 ) Attributable to: Ordinary equity holders of the Company (362,571 ) 165,270 (591,708 ) (82,599 ) Non-controlling interests 2 (175 ) (56 ) (8 ) (362,569 ) 165,095 (591,764 ) (82,607 ) Ascentage Pharma Group International Condensed consolidated statements of financial position (Amounts in thousands of Renminbi and U.S. dollar, except for number of shares and per share data) As at December 31, 2024 June 30,2025 June 30,2025 RMB RMB US$ (Audited) (Unaudited) (Unaudited) NON-CURRENT ASSETS Property, plant and equipment 849,450 821,201 114,635 Right-of-use assets 56,109 50,760 7,086 Goodwill 24,694 24,694 3,447 Other intangible assets 75,998 70,994 9,910 Investment in a joint venture 32,717 32,718 4,567 Financial assets at fair value through profit or loss ('FVTPL') 1,141 4,617 645 Deferred tax assets 44,236 33,385 4,660 Other non-current assets 59,303 99,055 13,828 Total non-current assets 1,143,648 1,137,424 158,778 CURRENT ASSETS Inventories 6,597 8,591 1,199 Trade receivables, net 83,143 78,362 10,939 Prepayments, other receivables and other assets 123,211 160,313 22,379 Cash and bank balances 1,261,211 1,661,454 231,930 Total current assets 1,474,162 1,908,720 266,447 CURRENT LIABILITIES Trade payables 91,966 118,676 16,567 Other payables and accruals 258,098 249,358 34,808 Contract liabilities 37,485 37,485 5,233 Interest-bearing bank and other borrowings 779,062 833,783 116,392 Total current liabilities 1,166,611 1,239,302 173,000 NET CURRENT ASSETS 307,551 669,418 93,447 TOTAL ASSETS LESS CURRENT LIABILITIES 1,451,199 1,806,842 252,225 Ascentage Pharma Group International Condensed consolidated statements of financial position (Amounts in thousands of Renminbi and U.S. dollar, except for number of shares and per share data) As at December 31,2024 June 30,2025 June 30,2025 RMB RMB US$ (Audited) (Unaudited) (Unaudited) NON-CURRENT LIABILITIES Contract liabilities 248,460 229,628 32,055 Interest-bearing bank and other borrowings 889,435 882,382 123,176 Deferred tax liabilities 5,368 - - Deferred income 27,500 6,500 907 Other non-current liabilities 6,274 12,423 1,734 Total non-current liabilities 1,177,037 1,130,933 157,872 TOTAL LIABILITIES 2,343,648 2,370,235 330,872 EQUITY Equity attributable to ordinary equity holders of the Company Ordinary shares (par value of US$0.0001 per share as of December 31, 2024 and June 30, 2025; 315,224,993 and 348,999,320 shares authorized, issued and outstanding as of December 31, 2024 and June 30, 2025, respectively) 214 239 33 Treasury shares (8 ) (2,960 ) (413 ) Share premium 6,545,129 7,546,108 1,053,396 Capital and reserves (384,515 ) (389,056 ) (54,310 ) Exchange fluctuation reserve (126,071 ) (127,011 ) (17,730 ) Accumulated losses (5,770,555 ) (6,361,323 ) (888,006 ) 264,194 665,997 92,970 Non-controlling interests 9,968 9,912 1,383 Total equity 274,162 675,909 94,353

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