New England Journal of Medicine to Release Findings from Savara's Key Phase 3 IMPALA-2 Trial on Autoimmune Pulmonary Alveolar Proteinosis | Intellectia.AI
New England Journal of Medicine to Release Findings from Savara's Key Phase 3 IMPALA-2 Trial on Autoimmune Pulmonary Alveolar Proteinosis
Written by Emily J. Thompson, Senior Investment Analyst
Clinical Trial Results: The Phase 3 IMPALA-2 clinical trial demonstrated that inhaled molgramostim significantly reduced surfactant burden and improved pulmonary gas transfer, respiratory health-related quality of life, and patient functionality in autoimmune pulmonary alveolar proteinosis (PAP) patients.
Efficacy Findings: Molgramostim achieved statistically significant improvements in lung function as measured by DLco% at both Week 24 and Week 48 compared to placebo, with mean improvements aligning closely with clinically meaningful differences for pulmonary fibrosis.
Quality of Life Improvements: Patients treated with molgramostim showed greater reductions in St. George's Respiratory Questionnaire scores, indicating enhanced respiratory health-related quality of life and exercise capacity over the 48-week study period.
Safety Profile: The treatment was well tolerated, with most adverse events being mild or moderate, and a high completion rate of the trial among participants, indicating a favorable safety profile for molgramostim in treating autoimmune PAP.
SVRA
$6.43+Infinity%1D
Analyst Views on SVRA
Wall Street analysts forecast SVRA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SVRA is 10.43 USD with a low forecast of 7.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast SVRA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SVRA is 10.43 USD with a low forecast of 7.00 USD and a high forecast of 16.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 6.610
Low
7.00
Averages
10.43
High
16.00
Current: 6.610
Low
7.00
Averages
10.43
High
16.00
Oppenheimer
Oppenheimer
Outperform
maintain
$8 -> $9
2025-11-14
Reason
Oppenheimer
Oppenheimer
Price Target
$8 -> $9
2025-11-14
maintain
Outperform
Reason
Oppenheimer raised the firm's price target on Savara to $9 from $8 and keeps an Outperform rating on the shares. Ahead of December 2025 BLA submission for MOLBREEVI, the firm continues to see a more than $1B opportunity for MOLBREEVI in aPAP following recent updated claims data giving line of sight to at least 1,000 patients by launch with 750 already identified.
Citizens JMP
Jonathan Wolleben
Outperform
to
Outperform
downgrade
$11 -> $10
2025-11-13
Reason
Citizens JMP
Jonathan Wolleben
Price Target
$11 -> $10
2025-11-13
downgrade
Outperform
to
Outperform
Reason
Citizens JMP analyst Jonathan Wolleben lowered the firm's price target on Savara to $10 from $11 and keeps an Outperform rating on the shares. Savara remains on track to resubmit its biologics license application for Molbreevi in December, with an MAA submission in the EU and UK expected in 1Q26, the analyst tells investors in a research note. The firm is impressed with management's execution on quickly resolving manufacturing deficiencies that prompted a complete response letter in May.
Citizens JMP
Outperform
maintain
$8 -> $11
2025-10-23
Reason
Citizens JMP
Price Target
$8 -> $11
2025-10-23
maintain
Outperform
Reason
Citizens JMP raised the firm's price target on Savara to $11 from $8 and keeps an Outperform rating on the shares. The firm's pulmonologist survey indicates high demand for Molbreevi. 60% of those surveyed want to use Molbreevi, which should translate to blockbuster sales, the analyst tells investors in a research note. Citizens says Savara remains on track to resubmit its application for Molbreevi in December.
LifeSci Capital
Francois Brisebois
Outperform
initiated
$11
2025-10-14
Reason
LifeSci Capital
Francois Brisebois
Price Target
$11
2025-10-14
initiated
Outperform
Reason
LifeSci Capital analyst Francois Brisebois initiated coverage of Savara with an Outperform rating and $11 price target.
About SVRA
Savara Inc. is a clinical-stage biopharmaceutical company. The Company is focused on rare respiratory diseases. The Company’s lead program, molgramostim inhalation solution (MOLBREEVI or molgramostim), is an inhaled biologic, specifically an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase III development for autoimmune pulmonary alveolar proteinosis (aPAP). MOLBREEVI is an inhaled formulation of recombinant human GM-CSF and is being developed for the treatment of aPAP. MOLBREEVI is administered once daily by inhalation via a high efficiency nebulizer, the eFlow Nebulizer System (PARI Pharma GmbH). Pulmonary alveolar proteinosis (PAP) is a rare lung disease characterized by the accumulation of surfactant in the alveoli (or air sacs) of the lungs. The Company is engaged in the advancement of the MOLBREEVI aPAP program and the Phase III IMPALA-2 clinical trial and outsourcing capital-intensive operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
