Oppenheimer analyst Mazahir Alimohamed assumed coverage of Savara with an Outperform rating with a price target of $11, up from $9. With Priority Review granted to the BLA for molgramostim, an inhaled GM-CSF therapy, Savara's story has shifted toward regulatory execution and commercial positioning, the firm says. Robust data from Phase 3 IMPALA-2 in autoimmune PAP support the BLA package and the firm's view of a high-probability approval story, also given that prior FDA feedback was only CMC-related.
