someconcerns
8 년 전
Savara Announces Closing Of Merger With Mast Therapeutics
Commences Trading on Nasdaq Capital Market on April 28, 2017 Under Ticker Symbol "SVRA"
Conference Call Scheduled for Tuesday May 2nd, 2017 at 4:30 p.m. ET / 3:30 p.m. CT
Savara Inc. (PRNewsfoto/Mast Therapeutics)
News provided by
Savara Inc.
16:15 ET
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AUSTIN, Texas, April 27, 2017 /PRNewswire/ -- Savara Inc. (NASDAQ: SVRA), a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel therapies for the treatment of serious or life-threatening rare respiratory diseases, today announced the closing of its previously announced merger with Mast Therapeutics, Inc. (NYSE MKT: MSTX), under which the stockholders of Savara have become the majority owners of Mast, and the operations of Mast and Savara have combined. The post-merger company, named Savara Inc., is based in Austin, TX and features three inhaled product candidates, each in advanced stages of clinical development. The company will be led solely by Savara's current management team. Two independent members of the Mast board remain on the post-merger board together with all five members of the Savara board. Savara's common stock will commence trading on April 28th, 2017 on the Nasdaq Capital Market under the trading symbol "SVRA".
"Savara's transition to the public market marks a significant milestone for us, and serves as testament to the determination of our team as well as the support of our investors to date," stated Rob Neville, Chairman and CEO of Savara. "Savara's team is passionate about helping those who suffer from rare and debilitating lung diseases and will dynamically pursue opportunities to develop impactful products to treat such conditions. We believe Savara presents an attractive business opportunity with our pipeline of unique products with considerable market potential, as well as significant value-driving clinical milestones."
Savara began the development of AeroVanc in 2010 and is now in preparation for a pivotal Phase 3 study. In July 2016, Savara acquired Serendex Pharmaceuticals adding Molgradex to its pipeline. Molgradex is currently in Phase 2/3 development. With the closing of the Mast merger, Savara adds the Aironite program to its pipeline (also known as AIR001). Savara intends to continue its growth strategy focused on indication expansion, strategic development partnerships and product acquisitions.
In connection with the closing of the merger, Mast effected a 1 for 70 reverse split of its common stock. Post-merger and post-reverse split, Savara has approximately 15 million shares of common stock issued and outstanding with prior Savara stockholders collectively owning approximately 77% of the combined company, and prior Mast stockholders collectively owning approximately 23% of the combined company. Prior to the merger closing, Savara stockholders exercised certain previously issued warrants to purchase Savara shares and invested additional capital into the company, resulting in aggregate net proceeds of approximately $4 million.
Savara's pipeline now includes:
Molgradex, an inhaled nebulized GM-CSF to treat pulmonary alveolar proteinosis (PAP) currently in Phase 2/3 development;
AeroVanc, an inhaled dry-powder vancomycin to treat chronic methicillin-resistant Staphylococcus aureus (MRSA) pulmonary infection in cystic fibrosis (CF) in preparation for a pivotal Phase 3 study; and
Aironite, an inhaled nebulized sodium nitrite solution to treat heart failure with preserved ejection fraction (HFpEF) currently in Phase 2 development.
Select Development Milestones
Completing negotiations with the U.S. Food and Drug Administration (FDA) on the requirements for a pivotal clinical study of Molgradex in the U.S. in Q2/2017;
Initiating a pivotal Phase 3 study of AeroVanc in Q3/2017;
Announcing an indication expansion strategy of Molgradex for the treatment of a rare lung infection in Q3/2017;
Announcing top-line results from a Phase 2/3 study of Molgradex, expected to be registration-enabling in Europe and Japan, in Q1/2018; and
Announcing results from an ongoing Phase 2 study of Aironite being conducted by the Heart Failure Clinical Research Network in H1/2018.
Conference Call and Webcast
Savara will hold a conference call on Tuesday May 2nd, 2017, at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time to provide an overview and business update. Interested parties may access the conference call by dialing (855) 239-3120 from the U.S., (855) 669-9657 from Canada, and (412) 542-4127 from outside the U.S. and should request the Savara Inc. Call. A live webcast of the conference call will be available online from the Investors section of Savara's website at http://www.savarapharma.com/investors/events/. Replays of the webcast will be available on Savara's website for 30 days and a telephone replay will be available through May 9th, 2017 by dialing (877) 344-7529 from the U.S., (855) 669-9658 from Canada, and (412) 317-0088 from elsewhere outside the U.S. and entering replay access code 10104600.
nycusa12
8 년 전
OHH YES new high of the day,,,,,,, i guess someone knows something that we don't know yet ,,,,,,,,,,next we need to break the .1490 mark,,,, LET'S GOOO
pray
8 년 전
If you define good by management benefits, share options, salary increase's you are absolutely correct.
If you have been a shareholder here you can not really see any benefit to this stock. RS, 4 offerings, dilution, share count tripling in last 7 years. Add to that nothing but 5 failed drug tests in 7 years with 5 new drugs. If you invested $100 7 years ago, management has absorbed all but a dime.
In all fairness can you share one benefit a long shareholder has experienced?
Even management could not plan a successful merger. Thus far along with every "botched" test they could not achieve one simple goal .... merger. The 90% voting are not voting for merger, RS, or name change. They are voting to get rid of management in a worthless CEO Cully ....period.
pray
8 년 전
Have spoken to Cully personally twice. He is the type that covers bases for that reason. He know how to take advantage of both shareholders as well as institutions, he has made a life from it.
In the case of Savara, he knows Neville has both character and integrity, two items Cully knows nothing about. Rather than drag a company through needless court costs I personally feel Neville would just walk away to save shareholders money and not wasting time. Cully knowing that has set his scheme into motion. If vote passes he gets bonus and praise, it fails Savara walks away with no major losses. In the second case Cully will wine that shareholders just would not get out to vote, not his fault.
Remember management could also care less about shareholders. Cully has rewarded them with bonuses, options and everything at the cost of shareholders. They will never get rid of Cully, that worthless piece of trash.
It has been several years but I stated when Cully added Air it was because he knew EPIC would fail and he could proclaim "we still have a possible Multi Million Dollar Drug" in pipeline with cash. Well it ended just as I predicted. Epic had a 70-80% success rate by Cully, and after failure no follow up why failure? Why Cully knew failure from start. He controlled it.
Cully is the lowest of scum. He is puse of inner cancer hiding itself until it is to late. There was a "Rodney" on this board couple years back that controlled the boards by deleting any non praise of Cully or Mast. Cully mentioned his name in our second conversation. I personally believe he was employed by Mast to pump Cullys schemes.
lux1
8 년 전
To date the 44% voted,still not enough to reach the quorum (50% + 1), that are 112 million share-votes out of 255 million shares entitled.
There are therefore 143 million shares without vote, and about 15 million of votes (6%) are still needed for the quorum, likely some hundreds of voters.
I'm not worried because this is not a mission impossible by Friday and surely easy by next week, but Culley's organisation has once again failed!
http://masttherapeutics.com/investors/news/?releaseid=2263203
pray
8 년 전
See your point, would not put it past Culley to somehow screw this up. That is what he is great at.
Read this today .....
"Mast Therapeutics reminds shareholders to vote for the proposed merger with Savara; of the votes received to date, more than 90% are voting in favor of the mergerFont
"The overwhelming majority of Mast stockholders who have submitted their votes have voted in favor of the merger.
However, more votes are needed to meet the required threshold for the merger to be completed," stated Brian M. Culley, Chief Executive Officer of Mast."
acnyc
8 년 전
Lux1, you make a good and correct point about the R/S. Unfortunately, people don't get the entire R/S thing and assume they are all bad. I've had luck with Reverse Splits in the past, and assuming this merger gets approved , , , it will have a positive effect.
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