Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Savara Inc. (SVRA)
NEW YORK, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased or otherwise acquired Savara Inc. (“Savara” or the “Company”) (NASDAQ: SVRA) securities between March 7, 2024 and May 23, 2025, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the MOLBREEVI BLA lacked sufficient information regarding MOLBREEVI’s chemistry, manufacturing, and/or controls; (ii) accordingly, the FDA was unlikely to approve the MOLBREEVI BLA in its current form; (iii) the foregoing made it unlikely that Savara would complete its submission of the MOLBREEVI BLA within the timeframe it had represented to investors; (iv) the delay in MOLBREEVI’s regulatory approval increased the likelihood that the Company would need to raise additional capital; and (v) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On May 27, 2025, the Company issued a press release “announc[ing] that the Company received [a refusal to file (“RTF”)] letter from the FDA for the [MOLBREEVI BLA] as a therapy to treat patients with autoimmune pulmonary alveolar proteinosis [aPap].” The Company also revealed that “[u]pon preliminary review, the FDA determined that the [MOLBREEVI BLA] was not sufficiently complete to permit substantive review and requested additional data related to Chemistry, Manufacturing, and Controls (CMC).”
On this news, the Company’s stock price fell $0.90 per share, or 31.69%, to close at $1.94 per share on May 27, 2025.
Investors who purchased or otherwise acquired shares of Savara should contact the Firm prior to the November 7, 2025, lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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