Savara CFO Resigns for Health Reasons; COO Takes Over Amid Key Drug Review
Summary
Savara's Chief Financial Officer, Dave Lowrance, is stepping down effective July 15 due to health-related reasons. Chief Operating Officer Robert Lutz will assume the additional title of CFO. This executive change comes at a critical time for Savara, which is awaiting an extended FDA review for its lead drug candidate, Molbreevi, now expected in November 2026. The company also recently reported increased cash burn and secured shareholder approval to significantly increase authorized common stock, suggesting potential future capital needs. A change in financial leadership during this period of regulatory uncertainty and capital planning is a material event for the company.
At the time of this announcement, SVRA was trading at $5.16 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1B. The 52-week trading range was $1.98 to $7.01. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.