Savara Inc

Savara Chief Financial Officer David Lowrance exercised 580,187 stock options and sold 394,528 shares on June 22, 2026, at a weighted average price of $5.68 per share, generating approximately $2.24 million. An additional 185,659 shares were withheld to cover taxes, leaving Lowrance with 536,032 directly held shares worth about $3.05 million. The sale, which is materially larger than his prior transactions, comes two weeks after the company announced Lowrance will step down in July for health reasons, with COO Robert Lutz assuming the CFO role. Savara's stock has returned roughly 167% over the past year, and the company recently submitted a biologics license application for MOLBREEVI, its inhaled GM-CSF therapy for autoimmune pulmonary alveolar proteinosis, with an FDA target action date of November 22. Management reported approximately $203 million in cash and short-term investments as of the end of the first quarter, plus access to up to $150 million in non-dilutive capital upon potential FDA approval.