Savara (SVRA) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 10, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	Savara Inc.
Entity Central Index Key	0001160308
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		135,173,441
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-32157
Entity Tax Identification Number	84-1318182
Entity Address, Address Line One	1717 Langhorne Newtown Road
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Langhorne
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19047
City Area Code	512
Local Phone Number	614-1848
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SVRA
Security Exchange Name	NASDAQ
Former Address [Member]
Document Information [Line Items]
Entity Address, Address Line One	6836 Bee Cave Road
Entity Address, Address Line Two	Building I
Entity Address, Address Line Three	Suite 205
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78746

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 22,745	$ 52,100
Short-term investments	82,434	73,776
Prepaid expenses and other current assets	2,721	3,078
Total current assets	107,900	128,954
Property and equipment, net	264	51
In-process R&D	10,781	10,656
Other non-current assets	888	116
Total assets	119,833	139,777
Current liabilities:
Accounts payable	2,502	1,334
Accrued expenses and other current liabilities	3,383	4,533
Total current liabilities	5,885	5,867
Long-term liabilities:
Long-term debt	26,213	26,078
Other long-term liabilities	20	54
Total liabilities	32,118	31,999
Commitments and Contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.001 par value, 300,000,000 authorized as of June 30, 2023 and December 31, 2022; 114,150,455 and 114,046,345 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	116	116
Additional paid-in capital	448,889	446,938
Accumulated other comprehensive loss	(619)	(605)
Accumulated deficit	(360,671)	(338,671)
Total stockholders’ equity	87,715	107,778
Total liabilities and stockholders’ equity	$ 119,833	$ 139,777

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	114,150,455	114,046,345
Common stock, shares outstanding	114,150,455	114,046,345

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Research and development	$ 8,911	$ 6,418	$ 17,649	$ 12,102
General and administrative	3,302	2,957	6,668	5,311
Depreciation and amortization	8	8	16	16
Total operating expenses	12,221	9,383	24,333	17,429
Loss from operations	(12,221)	(9,383)	(24,333)	(17,429)
Other income (expense)
Interest income (expense)	709	(284)	1,474	(854)
Foreign currency exchange gain	33	42	62	29
Tax credit income	36	461	797	790
Total other income (expense), net	778	219	2,333	(35)
Net loss	$ (11,443)	$ (9,164)	$ (22,000)	$ (17,464)
Net loss per share:
Basic	$ (0.07)	$ (0.06)	$ (0.14)	$ (0.11)
Diluted	$ (0.07)	$ (0.06)	$ (0.14)	$ (0.11)
Weighted-average common shares outstanding:
Basic	152,796,617	152,771,103	152,778,031	152,770,434
Diluted	152,796,617	152,771,103	152,778,031	152,770,434
Other comprehensive income (loss):
Gain (loss) on foreign currency translation	$ (98)	$ (745)	$ 32	$ (953)
Unrealized gain (loss) on short-term investments	(60)	20	(46)	(68)
Total comprehensive loss	$ (11,601)	$ (9,889)	$ (22,014)	$ (18,485)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balances at Dec. 31, 2021	$ 144,498	$ 116	$ 444,898	$ (300,521)	$ 5
Beginning balance, shares at Dec. 31, 2021		114,036,892
Issuance of common stock for settlement of RSUs, shares		3,688
Repurchase of shares for minimum tax withholdings	(1)		(1)
Repurchase of shares for minimum tax withholdings, shares		(720)
Stock-based compensation	574		574
Foreign exchange translation adjustment	(208)				(208)
Unrealized gain (loss) on short-term investments	(88)				(88)
Net loss	(8,300)			(8,300)
Ending balances at Mar. 31, 2022	136,475	$ 116	445,471	(308,821)	(291)
Ending balance, shares at Mar. 31, 2022		114,039,860
Beginning balances at Dec. 31, 2021	144,498	$ 116	444,898	(300,521)	5
Beginning balance, shares at Dec. 31, 2021		114,036,892
Foreign exchange translation adjustment	(953)
Unrealized gain (loss) on short-term investments	(68)
Net loss	(17,464)
Ending balances at Jun. 30, 2022	127,042	$ 116	445,927	(317,985)	(1,016)
Ending balance, shares at Jun. 30, 2022		114,041,271
Beginning balances at Mar. 31, 2022	136,475	$ 116	445,471	(308,821)	(291)
Beginning balance, shares at Mar. 31, 2022		114,039,860
Issuance of common stock for settlement of RSUs, shares		1,812
Repurchase of shares for minimum tax withholdings, shares		(401)
Stock-based compensation	456		456
Foreign exchange translation adjustment	(745)				(745)
Unrealized gain (loss) on short-term investments	20				20
Net loss	(9,164)			(9,164)
Ending balances at Jun. 30, 2022	127,042	$ 116	445,927	(317,985)	(1,016)
Ending balance, shares at Jun. 30, 2022		114,041,271
Beginning balances at Dec. 31, 2022	$ 107,778	$ 116	446,938	(338,671)	(605)
Beginning balance, shares at Dec. 31, 2022	114,046,345	114,046,345
Issuance of common stock upon exercise of stock options	$ 27		27
Issuance of common stock upon exercise of stock options, shares		17,129
Issuance of common stock for settlement of RSUs, shares		1,813
Repurchase of shares for minimum tax withholdings	(1)		(1)
Repurchase of shares for minimum tax withholdings, shares		(551)
Stock-based compensation	864		864
Foreign exchange translation adjustment	130				130
Unrealized gain (loss) on short-term investments	14				14
Net loss	(10,557)			(10,557)
Ending balances at Mar. 31, 2023	98,255	$ 116	447,828	(349,228)	(461)
Ending balance, shares at Mar. 31, 2023		114,064,736
Beginning balances at Dec. 31, 2022	$ 107,778	$ 116	446,938	(338,671)	(605)
Beginning balance, shares at Dec. 31, 2022	114,046,345	114,046,345
Issuance of common stock upon exercise of stock options, shares	101,504
Issuance of common stock for settlement of RSUs, shares	2,606
Foreign exchange translation adjustment	$ 32
Unrealized gain (loss) on short-term investments	(46)
Net loss	(22,000)
Ending balances at Jun. 30, 2023	$ 87,715	$ 116	448,889	(360,671)	(619)
Ending balance, shares at Jun. 30, 2023	114,150,455	114,150,455
Beginning balances at Mar. 31, 2023	$ 98,255	$ 116	447,828	(349,228)	(461)
Beginning balance, shares at Mar. 31, 2023		114,064,736
Issuance of common stock upon exercise of stock options	103		103
Issuance of common stock upon exercise of stock options, shares		84,375
Issuance of common stock for settlement of RSUs, shares		1,812
Repurchase of shares for minimum tax withholdings, shares		(468)
Stock-based compensation	958		958
Foreign exchange translation adjustment	(98)				(98)
Unrealized gain (loss) on short-term investments	(60)				(60)
Net loss	(11,443)			(11,443)
Ending balances at Jun. 30, 2023	$ 87,715	$ 116	$ 448,889	$ (360,671)	$ (619)
Ending balance, shares at Jun. 30, 2023	114,150,455	114,150,455

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss		$ (22,000)	$ (17,464)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		16	16
Amortization of right-of-use assets		31	66
Foreign currency gain		(62)	(29)
Amortization of debt issuance costs		135	198
(Accretion) amortization on premium to short-term investments		(1,837)	371
Stock-based compensation		1,822	1,030
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		377	1,337
Non-current assets		(792)	(803)
Accounts payable and accrued expenses and other current liabilities		12	(2,463)
Net cash used in operating activities		(22,298)	(17,741)
Cash flows from investing activities:
Purchase of property and equipment		(229)	(5)
Purchase of available-for-sale securities, net		(60,872)	(16,004)
Maturities of available-for-sale securities		54,000	83,593
Sale of available-for-sale securities, net			11,276
Net cash provided by (used in) investing activities		(7,101)	78,860
Cash flows from financing activities:
Repayment of long-term debt	[1]		(26,350)
Proceeds from long-term debt, net	[1]		26,438
Proceeds from exercise of stock options		131
Repurchase of shares for minimum tax withholdings		(1)	(1)
Net cash provided by financing activities		130	87
Effect of exchange rate changes on cash and cash equivalents		(86)	(65)
Increase (decrease) in cash and cash equivalents		(29,355)	61,141
Cash and cash equivalents beginning of period		52,100	34,012
Cash and cash equivalents end of period		22,745	95,153
Supplemental disclosure of cash flow information:
Cash paid for interest		$ 973	$ 857
[1] As discussed in Note 6. Long-term Debt , the Amended Loan Agreement (as defined herein) executed on April 21, 2022 was accounted for as a modification. The Company used the proceeds from the Amended Loan Agreement to repay the outstanding amounts under the Loan Agreement from Silicon Valley Bank.

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	1. Organization and Nature of Operations Description of Business Savara Inc. (together with its subsidiaries “Savara,” the “Company,” “we” or “us”) is a clinical-stage biopharmaceutical company focused on rare respiratory diseases. The Company’s lead program, molgramostim nebulizer solution (“molgramostim”), a novel inhaled biologic, is a granulocyte-macrophage colony-stimulating factor in Phase 3 development for autoimmune pulmonary alveolar proteinosis (“aPAP”). The Company and its wholly-owned subsidiaries operate in one segment with its principal office i n Austin, Texas, though a significant portion of employees work remotely. Since inception, Savara has devoted its efforts and resources to identifying and developing its product candidates, recruiting personnel, and raising capital. Savara has incurred operating losses and negative cash flow from operations and has no product revenue from inception to date. The Company has not yet commenced commercial operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The unaudited interim condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) as defined by the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments that are necessary to fairly present the statements of financial position, operations and cash flows for the periods presented. The results of operations for interim periods shown in this report are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any other future annual or interim period. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been omitted from these condensed consolidated financial statements, as permitted by rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). The Company believes the disclosures made in these condensed consolidated financial statements are adequate to make the information herein not misleading. The Company recommends that these condensed consolidated financial statements be read in conjunction with its audited consolidated financial statements and related notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022. The Company’s significant accounting policies are described in Note 2 to the audited consolidated financial statements. The re have been no changes to the Company's significant accounting policies since the date of those financial statements. Principles of Consolidation The interim condensed consolidated financial statements of the Company are stated in U.S. dollars and are prepared under U.S. GAAP. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The financial statements of the Company’s wholly-owned subsidiaries are recorded in their functional currency and translated into the reporting currency. The cumulative effect of changes in exchange rates between the foreign entity’s functional currency and the reporting currency is reported in Accumulated other comprehensive loss in the condensed consolidated balance sheet. All intercompany transactions and accounts have been eliminated in consolidation. The condensed consolidated balance sheet at December 31, 2022 has been derived from the Company's audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements. Liquidity As of June 30, 2023, the Company had an accumulated deficit of approximately $ 360.7 million . The Company used cash in operating activities of approximately $ 22.3 million during the six months ended June 30, 2023. The cost to further develop and obtain regulatory approval for any drug is substantial and, as noted below, the Company may have to take certain steps to maintain a positive cash position. Although the Company has sufficient capital to fund many of its planned activities, it may need to continue to raise additional capital to further fund the development of, and seek regulatory approvals for, its product candidate and begin to commercialize any approved product. The Company is currently focused on the development of molgramostim for the treatment of aPAP and believes such activities will result in the continued incurrence of significant research and development and other expenses related to this program. If the clinical trial for the Company’s product candidate fails or produces unsuccessful results and the product candidate does not gain regulatory approval or, if approved, fails to achieve market acceptance, the Company may never become profitable. Even if the Company achieves profitability in the future, it may not be able to sustain profitability in subsequent periods. The Company intends to cover its future operating expenses through cash and cash equivalents on hand, short-term investments and, potentially, through a combination of equity offerings, debt financings, government or other third-party funding, and other collaborations and strategic alliances with partner companies. The Company cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or its stockholders. The Company’s cash and cash equivalents of $ 22.7 million and short-term investments of $ 82.4 million as of June 30, 2023 are sufficient to fund the Company’s operations for the twelve months subsequent to the issuance date of these condensed consolidated financial statements. The Company may continue to raise additional capital as needed through the issuance of additional equity securities and potentially through borrowings and strategic alliances with partner companies. However, if such additional financing is not available timely and at adequate levels, the Company will need to reevaluate its long-term operating plans. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company currently maintains depository accounts and has a debt facility with Silicon Valley Bank, as acquired by First Citizens BancShares, Inc. (Nasdaq: FCNCA) on March 27, 2023 through an agreement with the Federal Deposit Insurance Corporation ("FDIC") which included all of the assets and liabilities of Silicon Valley Bank including all bank deposits and allowing Silicon Valley Bank to continue its operations. In order to mitigate risks associated with our banking deposits, the Company maintains a significant portion of its liquidity in U.S. Treasury money market funds and other short-term investments with custodial services provided by U.S. Bank, N.A., refer to Note 5. Short-term Investments and Note 7. Fair Value Measurements . The Company continues to monitor the circumstances surrounding First Citizens BancShares, Inc. and its acquisition of Silicon Valley Bank and has not experienced nor anticipates any material impacts on its financial condition or operations. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make certain estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management’s estimates include, but are not limited to, those related to the accrual of research and development expenses and general and administrative costs, certain financial instruments recorded at fair value, the valuation of stock-based compensation, and the valuation allowance for deferred tax assets. The Company bases its estimates on historical experience, changes in circumstance and facts, and on various other market-specific and relevant assumptions that it believes to be reasonable under the circumstances. Accordingly, actual results could be materially different from those estimates. Risks and Uncertainties The product candidate being developed by the Company requires approval from the U.S. Food and Drug Administration (“FDA”) or foreign regulatory agencies prior to commercial sales. There can be no assurance that the Company’s product candidate will receive the necessary approvals. If the Company is denied regulatory approval of its product candidate, or if approval is delayed, it may have a material adverse impact on the Company’s business, results of operations, and its financial position. The Company is subject to a number of risks similar to other life science companies, including, but not limited to, risks related to the successful discovery and development of drug candidates, raising additional capital, development of competing drugs and therapies, protection of proprietary technology, and market acceptance of the Company’s products. As a result of these and other factors and the related uncertainties, there can be no assurance of the Company’s future success. Concentration of Credit Risk We are subject to credit risk from our portfolio of cash equivalents and marketable securities. These investments were made in accordance with our investment policy which specifies the categories, allocations, and ratings of securities we may consider for investment. The primary objective of our investment activities is the preservation of principal, maintenance of liquidity that is sufficient to meet cash flow requirements while at the same time maximizing total return on investments without significantly increasing risk. We maintain our cash and cash equivalents and marketable securities with a limited number of financial institutions. Deposits held with the financial institutions may from time to time exceed the amount of insurance provided on such deposits. We are exposed to credit risk in the event of a default by the financial institutions holding our cash, cash equivalents, and marketable securities to the extent recorded on the consolidated balance sheets. In order to mitigate such risks associated with our banking deposits, the Company maintains a significant portion of its liquidity in U.S. Treasury money market funds and other short-term investments. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company's chief operating decision maker is the Chief Executive Officer. We have one operating segment, specialty pharmaceuticals within the respiratory system. Recent Accounting Pronouncements There are no recent accounting pronouncements issued by the FASB, the American Institute of Certified Public Accountants, or the SEC that are believed by the Company's management to have a material effect, if any, on the Company’s condensed consolidated financial statements.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	3. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Prepaid contracted research and development costs $ 1,340 $ 1,822 R&D tax credit receivable 801 792 Prepaid insurance 221 231 VAT receivable 200 162 Deposits and other 159 71 Total prepaid expenses and other current assets $ 2,721 $ 3,078 Prepaid Contracted Research and Development Costs As of June 30, 2023, Prepaid contracted research and development costs are primarily comprised of contractual prepayments associated with the Company's clinical trial for molgramostim for the treatment of aPAP. This includes prepaid amounts paid under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers that provide services in connection with the Company's research and development activities. R&D Tax Credit Receivable The Company has recorded a Danish tax credit earned by its subsidiary, Savara ApS, as of June 30, 2023 . Under Danish tax law, Denmark remits a research and development tax credit equal to 22 % of qualified research and development expenditures, not to exceed established thresholds. During the year ended December 31, 2022, the Company generated a Danish tax credit of $ 0.8 million which is included in Prepaid expenses and other current assets and is expected to be received in the fourth quarter of 2023. During the six months ended June 30, 2023, the Company generated a Danish tax credit of $ 0.8 million which is recorded in Other non-current assets in the condensed consolidated balance sheet and is expected to be received in the fourth quarter of 2024.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	4. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of (in thousands): June 30, 2023 December 31, 2022 Accrued compensation $ 1,403 $ 2,365 Accrued contracted research and development costs 1,351 1,322 Accrued general and administrative costs 562 782 Lease liability 67 64 Total accrued expenses and other current liabilities $ 3,383 $ 4,533 Accrued Contracted Research and Development Costs As of June 30, 2023, Accrued contracted research and development costs are primarily comprised of costs associated with molgramostim for the treatment of aPAP, including expenses resulting from obligations under agreements with CROs, CMOs, and other outside service providers that provide services in connection with the Company's research and development activities. Accrued Compensation As of June 30, 2023, Accrued compensation includes amounts to be paid to employees for salary, vacation and non-equity performance-based compensation. At the end of any period, the amounts accrued for such compensation may vary due to many factors including, but not limited to, timing of payments to employees and vacation usage

Short-term Investments

Short-term Investments	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Short-term Investments	5. Short-term Investments The Company’s investment policy seeks to preserve capital and maintain sufficient liquidity to meet operational and other needs of the business. The following table summarizes, by major security type, the Company’s investments (in thousands): As of June 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term investments U.S. government securities $ 82,491 $ 2 $ ( 59 ) $ 82,434 Total short-term investments $ 82,491 $ 2 $ ( 59 ) $ 82,434 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term investments U.S. government securities $ 73,784 $ 8 $ ( 16 ) $ 73,776 Total short-term investments $ 73,784 $ 8 $ ( 16 ) $ 73,776 The Company has classified its investments as available-for-sale securities. These securities are carried at estimated fair value with the aggregate unrealized gains and losses related to these investments reflected as a part of Accumulated other comprehensive loss in the condensed consolidated balance sheet. Classification as short-term or long-term is based upon whether the initial maturity of the debt securities is less than or greater than twelve months. There were no significant realized gains or losses related to investments for the six months ended June 30, 2023 and 2022 .

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-term Debt	6. Long-term Debt On April 28, 2017, the Company and its subsidiary, Aravas Inc. (“Aravas”), entered into a loan and security agreement with Silicon Valley Bank, as amended by the First Amendment on October 31, 2017 , the Second Amendment on December 4, 2018 , the Third Amendment on January 31, 2020 , and the Fourth Amendment on March 30, 2021 (the “Loan Agreement”), pursuant to which Silicon Valley Bank provided a term loan to us in the principal amount of $ 25.0 million. On April 21, 2022 , the Company and Aravas entered into an Amended and Restated Loan and Security Agreement (the “Amended Loan Agreement”), as co-borrowers, and Silicon Valley Bank, as lender (the “Lender”), which amended and restated the Loan Agreement in its entirety. The Amended Loan Agreement provides for a $ 26.5 million term loan facility. The Company used the proceeds from the Amended Loan Agreement to repay outstanding amounts under the Loan Agreement, including principal of $ 25.0 million, a prepayment fee of $ 0.1 million, and an end of term charge of $ 1.4 million. Pursuant to the Amended Loan Agreement, the loan has an interest-only monthly payment through April 21, 2026 (the “Interest-Only Period”) and thereafter equal monthly installments of principal plus interest over 12 months until April 21, 2027 (the “Maturity Date”). However, the Company may elect to extend the Interest-Only Period until the Maturity Date if it maintains cash and cash equivalents equal to at least 1.75 times the outstanding principal amount of the loan during the fifth year. If the Interest-Only Period is extended, all principal and unpaid interest is due and payable on the Maturity Date. The loan bears interest at a floating rate equal to the greater of (i) 3 % and (ii) the prime rate reported in The Wall Street Journal, minus a spread of 0.5 %. Savara is obligated to pay customary closing fees and a final payment of 2.75 % of the principal amount advanced under the facility. The Company may prepay the loan in whole or in part at any time, subject to a prepayment fee of 4.25 % if prepaid within the first anniversary of the closing date and 1.0 % if prepaid between the first and second anniversaries of the closing date. Following the second anniversary, there is no prepayment fee. Silicon Valley Bank was granted a perfected first priority lien in all of the Company's assets with a negative pledge on intellectual property. The Amended Loan Agreement contains customary affirmative and negative covenants, including among others, covenants that limit the Company's and its subsidiaries’ ability to dispose of assets, permit a change in control, merge or consolidate, make acquisitions, incur indebtedness, grant liens, make investments, make certain restricted payments, and enter into transactions with affiliates, in each case subject to certain exceptions. Additionally, the Amended Loan Agreement contains an affirmative covenant providing that if the Company’s balance of cash and cash equivalents falls below $ 40.0 million, the Company is required to maintain cash and cash equivalents equal to at least (i) six months of operating expenses and (ii) 1.2 times the outstanding principal amount of the loan (or 1.75 in the final year of the loan if the Interest-Only Period is extended). In accordance with FASB ASC Topic 470-50, Debt – Modifications and Extinguishments , the Company evaluated the Amended Loan Agreement to determine whether it should be accounted for as a modification or extinguishment. As a result of this analysis, the Amended Loan Agreement was accounted for as a modification. Accordingly, no gain or loss is recognized. Approximately $ 0.1 million of fees paid to the Lender were capitalized and will be amortized over the term of the Amended Loan Agreement. Expenses paid to third parties associated with the Amended Loan Agreement were immediately expensed and recorded in the Interest income (expense) line item in our consolidated statement of operations. On March 10, 2023, the FDIC took control and was appointed receiver of Silicon Valley Bank, and on March 27, 2023, First Citizens BancShares, Inc. announced that it had entered into an agreement with the FDIC to purchase all of the assets and liabilities of Silicon Valley Bank. As such, the Company is monitoring the impact on the Amended Loan Agreement and does not expect any material impacts to its facility or operations. Summary of Carrying Value The following table summarizes the components of the long-term debt carrying value, which approximates the fair value (in thousands): Future minimum payments due during the year ended December 31, June 30, 2023 December 31, 2022 2023 — — 2024 — — 2025 — — 2026 17,667 17,667 2027 9,562 9,562 Total future minimum payments 27,229 27,229 Unamortized end of term charge ( 556 ) ( 630 ) Debt issuance costs ( 422 ) ( 478 ) Debt discount related to warrants ( 38 ) ( 43 ) Total debt 26,213 26,078 Current portion of long-term debt — — Long-term debt $ 26,213 $ 26,078

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs, when determining fair value. The three tiers are defined as follows: • Level 1 – Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 – Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and • Level 3 – Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis, but are subject to fair value adjustments annually or whenever events or circumstances indicate that the carrying value of those assets may not be recoverable. These assets and liabilities can include acquired in-process research and development (“IPR&D”) and other long-lived assets that are written down to fair value if they are impaired. IPR&D is considered an indefinite-lived intangible asset and is assessed for impairment annually, or more frequently if impairment indicators exist. In accordance with ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) , the Company utilizes a two-step method, which allows the Company to first assess qualitative factors before performing a quantitative assessment of the fair value of a reporting unit. If it is determined on the basis of qualitative factors that the fair value of the IPR&D is more likely than not less than the carrying value, a quantitative impairment test is required. During the six months ended June 30, 2023 and 2022, the Company experienced an increase of approximately $ 0.1 million and a decrease of approximately $ 0.9 million, respectively, in the carrying value of IPR&D due to foreign currency translation. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company determined that certain investments in debt securities classified as available-for-sale securities were Level 1 financial instruments. From time to time, the Company also invests in corporate debt securities, commercial paper, and asset-backed securities which are considered Level 2 financial instruments because the Company has access to quoted prices but does not have visibility to the volume and frequency of trading for all of these investments. For the Company’s investments, a market approach is used for recurring fair value measurements and the valuation techniques use inputs that are observable, or can be corroborated by observable data, in an active marketplace. The fair value of these instruments as of June 30, 2023 and December 31, 2022 was as follows (in thousands): Quoted Prices in Significant Significant Total As of June 30, 2023 Cash equivalents: U.S. Treasury money market funds $ 20,919 $ — $ — $ 20,919 Short-term investments: U.S. government securities 82,434 — — 82,434 As of December 31, 2022 Cash equivalents: U.S. Treasury money market funds $ 48,804 $ — $ — $ 48,804 Short-term investments: U.S. government securities 73,776 — — 73,776

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	8. Stockholders’ Equity Evercore Common Stock Sales Agreement On July 6, 2021, the Company entered into a Common Stock Sales Agreement with Evercore Group L.L.C. (“Evercore”), as sales agent (the “Sales Agreement”), pursuant to which the Company may offer and sell, from time to time, through Evercore, shares of Savara’s common stock, par value $ 0.001 per share (the “Shares”), having an aggregate offering price of not more than $ 60.0 million. The Sales Agreement was effective on July 16, 2021 , the date the Company’s shelf registration agreement on Form S-3, as filed with the SEC on July 6, 2021 (the “New Registration Statement”), was declared effective by the SEC. The Shares will be offered and sold pursuant to the New Registration Statement. Subject to the terms and conditions of the Sales Agreement, Evercore will use commercially reasonable efforts to sell the Shares from time to time, based upon the Company’s instructions. The Company has provided Evercore with customary indemnification rights, and Evercore will be entitled to a commission at a fixed commission rate equal to 3 % of the gross proceeds per Share sold. Sales of the Shares, if any, under the Sales Agreement may be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended. The Company has no obligation to sell any of the Shares and may at any time suspend sales under the Sales Agreement or terminate the Sales Agreement. During the six months ended June 30, 2023 and 2022, the Company did no t sell any shares of common stock under the Sales Agreement. Common Stock Reserved for Issuance The Company’s shares of common stock reserved for issuance as of the periods indicated were as follows: June 30, 2023 December 31, 2022 April 2017 Warrants 24,725 24,725 June 2017 Warrants 41,736 41,736 December 2018 Warrants 11,332 11,332 2017 Pre-funded Warrants 775,000 775,000 Pre-funded PIPE Warrants 5,780,537 5,780,537 2021 Pre-funded Warrants 32,175,172 32,175,172 Stock options outstanding 8,530,680 7,933,184 Issued and nonvested RSUs 2,388,625 1,942,250 Total shares reserved 49,727,807 48,683,936 Warrants The following table summarizes the outstanding warrants for the Company’s common stock as of June 30, 2023: Expiration Date Shares Underlying Exercise Price October 2024 775,000 $ 0.01 April 2027 24,725 $ 2.87 June 2027 41,736 $ 2.87 December 2028 11,332 $ 2.87 None 37,955,709 $ 0.001 38,808,502 Accumulated Other Comprehensive Income (Loss) Information The components of accumulated other comprehensive income (loss) as of the dates indicated and the change during the period were (in thousands): Foreign Exchange Translation Adjustment Unrealized Gain (Loss) on ST Investments Total Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2021 $ 54 $ ( 49 ) $ 5 Change $ ( 648 ) $ 38 $ ( 610 ) Balance, December 31, 2022 $ ( 594 ) $ ( 11 ) $ ( 605 ) Change $ 32 $ ( 46 ) $ ( 14 ) Balance, June 30, 2023 $ ( 562 ) $ ( 57 ) $ ( 619 )

Commitments

Commitments	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	9. Commitments Manufacturing and Other The Company is subject to various royalties and manufacturing and development payments related to its product candidate, molgramostim. Under a manufacture and supply agreement with the active pharmaceutical ingredients (“API”) manufacturer for molgramostim, the Company must make certain payments to the API manufacturer upon achievement of the milestones outlined in the table set forth below. Additionally, upon first receipt of marketing approval by the Company from a regulatory authority in a country for a product containing the API for therapeutic use in humans and ending the earlier of (i) ten (10) years thereafter or (ii) the date a biosimilar of such product is first sold in such country, the Company shall pay the API manufacturer a royalty equal to low-single digits of the net sales in that country. Similarly, the Company may become subject to additional milestone payments for the achievement of certain manufacturing protocols of molgramostim pursuant to a services agreement with a second source product manufacturer. As of June 30, 2023, the Company is not currently obligated for any such milestone payments to this second source product manufacturer. The Company is also subject to certain contingent milestone payments, disclosed in the following table, payable to the manufacturer of the nebulizer used to administer molgramostim. In addition to these milestones, the Company will owe a royalty of three-and one-half percent ( 3.5 %) to the manufacturer of the nebulizer based on net sales. The following table summarizes manufacturing commitments and contingencies as of the period indicated (in thousands): June 30, 2023 Molgramostim manufacturer: Achievement of certain milestones related to validation of API and regulatory approval of $ 2,300 Molgramostim nebulizer manufacturer: Achievement of various development activities and regulatory approval of nebulizer utilized 542 Total manufacturing and other commitments $ 2,842 The milestone commitments disclosed above reflect the activities that have (i) not been met or incurred; (ii) not been remunerated; and (iii) not accrued, as the activities are not deemed probable or reasonably estimable, as of June 30, 2023. Contract Research As part of its development of molgramostim for the treatment of aPAP, the Company entered into a Master Services Agreement (“MSA”) with Parexel International (IRL) Limited (“Parexel”) pursuant to which Parexel will provide contract research services related to clinical trials. Contemporaneously with entering the MSA, a work order was executed with Parexel, under which they will provide services related to the IMPALA-2 trial. Under that work order and subsequent change orders, the Company will pay Parexel service fees, pass-through expenses, and investigator fees estimated to be approximately $ 33.4 million over the course of the IMPALA-2 clinical trial. Risk Management The Company maintains various forms of insurance that the Company's management believes are adequate to reduce the exposure to certain risks associated with operating the Company’s business to an acceptable level.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Equity Incentive Plans 2008 Stock Option Plan The Company adopted the Savara Inc. Stock Option Plan (the “2008 Plan”), pursuant to which the Company reserved shares for issuance to employees, directors, and consultants. The 2008 Plan includes (i) the option grant program providing for both incentive and non-qualified stock options, as defined by the Internal Revenue Code, and (ii) the stock issuance program providing for the issuance of awards that are valued based upon common stock, including restricted stock, dividend equivalents, stock appreciation rights, phantom stock, and performance units. The 2008 Plan also allows eligible persons to purchase shares of common stock at an amount determined by the plan administrator. Upon a participant’s termination, the Company retains the right to repurchase nonvested shares issued in conjunction with the stock issuance program at the fair market value per share as of the date of termination. The Company previously issued incentive and non-qualified options and restricted stock to employees and non-employees under the 2008 Plan. The terms of the stock options, including the exercise price per share and vesting provisions, were determined by the board of directors. Stock options were granted at exercise prices not less than the estimated fair market value of the Company’s common stock at the date of grant based upon objective and subjective factors including: third-party valuations, preferred stock transactions with third parties, current operating and financial performance, management estimates, and future expectations. The Company no longer issues stock-based awards under the 2008 Plan. Amended and Restated 2015 Omnibus Incentive Option Plan The Company operates the Amended and Restated 2015 Omnibus Incentive Plan, as amended and restated with approval by the Company's stockholders in June 2018 and amended with approval by our stockholders in May 2020, June 2022 and June 2023 (the “2015 Plan”). The 2015 Plan provides for the grant of incentive and non-statutory stock options, as well as share appreciation rights, restricted shares, restricted stock units (“RSUs”), performance units, shares, and other stock-based awards. Share-based awards are subject to terms and conditions established by the board of directors or the compensation committee of the board of directors. As of June 30, 2023 , the number of shares of common stock available for grant under the 2015 Plan was 4,783,788 shares. Under both the 2008 Plan and 2015 Plan, stock options typically vest quarterly over four years and expire ten years from the grant date and RSUs typically vest quarterly over four years or cliff vest after two years . 2021 Inducement Equity Incentive Plan The Company adopted the 2021 Inducement Equity Incentive Plan in May 2021 and amended it in September 2021, September 2022, December 2022, March 2023 and June 2023 (as amended, the “Inducement Plan”). The Inducement Plan provides for the grant of non-statutory stock options, restricted stock, RSUs, stock appreciation rights, performance units, or performance shares. Each award under the Inducement Plan is intended to qualify as an employment inducement grant in accordance with Nasdaq Listing Rule 5635(c)(4). As of June 30, 2023 , the number of shares of common stock available for grant under the Inducement Plan was 615,000 shares. Under the Inducement Plan, stock options typically vest quarterly over four years and expire ten years from the grant date and RSUs typically cliff vest after two years . Stock-Based Awards Activity The following table provides a summary of stock-based awards activity for the six months ended June 30, 2023: Stock Options: Outstanding at December 31, 2022 7,933,184 Granted 770,000 Exercised ( 101,504 ) Expired/cancelled/forfeited ( 71,000 ) Outstanding at June 30, 2023 8,530,680 The total compensation cost related to non-vested stock options not yet recognized as of June 30, 2023 , was $ 4.9 million, which will be recognized over a weighted-average period of approximately 3.1 years . RSUs: Outstanding at December 31, 2022 1,942,250 Granted 450,000 Vested ( 2,606 ) Forfeited ( 1,019 ) Outstanding at June 30, 2023 2,388,625 The total compensation cost related to unvested RSUs not yet recognized as of June 30, 2023 , was $ 1.8 million, which will be recognized over a weighted-average period of approximately 1.4 years . Stock-Based Compensation Stock-based compensation expense is included in the following line items in the accompanying statements of operations and comprehensive loss for the three and six months ended June 30, 2023 and 2022 (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Research and development $ 280 $ 71 $ 534 $ 247 General and administrative 678 385 1,288 783 Total stock-based compensation $ 958 $ 456 $ 1,822 $ 1,030

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	11. Net Loss per Share Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common stock and pre-funded warrants outstanding during the period without consideration of common stock equivalents. For periods in which the Company generated a net loss, the Company does not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. The following equity instruments were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Six months ended June 30, 2023 2022 Awards under equity incentive plan 8,530,680 6,064,278 Non-vested restricted shares and restricted stock units 2,388,625 1,141,875 Warrants to purchase common stock 77,793 77,793 Total 10,997,098 7,283,946 The following table calculates basic earnings per share of common stock and diluted earnings per share of common stock for the three and six months ended June 30, 2023 and 2022 (in thousands, except share and per share amounts): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Net loss $ ( 11,443 ) $ ( 9,164 ) $ ( 22,000 ) $ ( 17,464 ) Net loss attributable to common ( 11,443 ) ( 9,164 ) ( 22,000 ) ( 17,464 ) Undistributed earnings and net loss ( 11,443 ) ( 9,164 ) ( 22,000 ) ( 17,464 ) Weighted-average common shares 152,796,617 152,771,103 152,778,031 152,770,434 Basic and diluted EPS $ ( 0.07 ) $ ( 0.06 ) $ ( 0.14 ) $ ( 0.11 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	12. Subseq uent Events Registered Direct Offering of Common Stock On July 17, 2023, the Company sold (i) an aggregate of 21,000,000 shares of the Company’s common stock (the “Common Stock”) for $ 3.00 per share which represented a 1 % premium over the closing price on that date and (ii) pre-funded warrants to purchase an aggregate of 5,666,667 shares of Common Stock at an exercise price of $ 0.001 per share (the “2023 Pre-Funded Warrants”) for $ 2.999 per warrant (collectively, the “July 2023 Offering”) pursuant to a Registered Direct Offering. The Common Stock and 2023 Pre-Funded Warrants were offered by the Company pursuant to its existing shelf registration statement (File No. 333-257709) filed with the SEC on July 6, 2021 and declared effective on July 16, 2021. The Company determined that the securities issued in the July 2023 Offering were free-standing and that the 2023 Pre-Funded Warrants meet the equity classification requirements pursuant to ASC 480, Distinguishing Liability from Equity , ASC 815, Derivatives and Hedging and Subtopic 815-40, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . The shares encompassed in the 2023 Pre-Funded Warrants were sold at the same price as the underlying common stock, less $ 0.001 (which represents the exercise price of the warrants). The July 2023 Offering resulted in net proceeds to the Company of approximately $ 74.7 million, after deducting final underwriting discounts, commissions, and other estimated offering expenses, as follows (in thousands): Financial instruments Proceeds Common stock $ 63,000 Pre-funded warrants 16,994 Total 79,994 Offering expenses $ ( 5,300 ) Net proceeds $ 74,694 The Company intends to use the net proceeds for working capital and general corporate purposes, which include, but are not limited to, the funding of clinical development of and pursuing regulatory approval for molgramostim, investing in our commercialization infrastructure, commercial launch preparation activities in the United States and European Union and administrative expenses. The Company has evaluated subsequent events through the date these condensed consolidated financial statements were issued. The Company determined there were no additional events that required disclosure or recognition in these condensed consolidated financial statements other than the July 2023 Offering.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) as defined by the Financial Accounting Standards Board (“FASB”). The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments that are necessary to fairly present the statements of financial position, operations and cash flows for the periods presented. The results of operations for interim periods shown in this report are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any other future annual or interim period. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been omitted from these condensed consolidated financial statements, as permitted by rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). The Company believes the disclosures made in these condensed consolidated financial statements are adequate to make the information herein not misleading. The Company recommends that these condensed consolidated financial statements be read in conjunction with its audited consolidated financial statements and related notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022. The Company’s significant accounting policies are described in Note 2 to the audited consolidated financial statements. The re have been no changes to the Company's significant accounting policies since the date of those financial statements.
Principles of Consolidation	Principles of Consolidation The interim condensed consolidated financial statements of the Company are stated in U.S. dollars and are prepared under U.S. GAAP. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The financial statements of the Company’s wholly-owned subsidiaries are recorded in their functional currency and translated into the reporting currency. The cumulative effect of changes in exchange rates between the foreign entity’s functional currency and the reporting currency is reported in Accumulated other comprehensive loss in the condensed consolidated balance sheet. All intercompany transactions and accounts have been eliminated in consolidation. The condensed consolidated balance sheet at December 31, 2022 has been derived from the Company's audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. GAAP for complete financial statements.
Liquidity	Liquidity As of June 30, 2023, the Company had an accumulated deficit of approximately $ 360.7 million . The Company used cash in operating activities of approximately $ 22.3 million during the six months ended June 30, 2023. The cost to further develop and obtain regulatory approval for any drug is substantial and, as noted below, the Company may have to take certain steps to maintain a positive cash position. Although the Company has sufficient capital to fund many of its planned activities, it may need to continue to raise additional capital to further fund the development of, and seek regulatory approvals for, its product candidate and begin to commercialize any approved product. The Company is currently focused on the development of molgramostim for the treatment of aPAP and believes such activities will result in the continued incurrence of significant research and development and other expenses related to this program. If the clinical trial for the Company’s product candidate fails or produces unsuccessful results and the product candidate does not gain regulatory approval or, if approved, fails to achieve market acceptance, the Company may never become profitable. Even if the Company achieves profitability in the future, it may not be able to sustain profitability in subsequent periods. The Company intends to cover its future operating expenses through cash and cash equivalents on hand, short-term investments and, potentially, through a combination of equity offerings, debt financings, government or other third-party funding, and other collaborations and strategic alliances with partner companies. The Company cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or its stockholders. The Company’s cash and cash equivalents of $ 22.7 million and short-term investments of $ 82.4 million as of June 30, 2023 are sufficient to fund the Company’s operations for the twelve months subsequent to the issuance date of these condensed consolidated financial statements. The Company may continue to raise additional capital as needed through the issuance of additional equity securities and potentially through borrowings and strategic alliances with partner companies. However, if such additional financing is not available timely and at adequate levels, the Company will need to reevaluate its long-term operating plans. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company currently maintains depository accounts and has a debt facility with Silicon Valley Bank, as acquired by First Citizens BancShares, Inc. (Nasdaq: FCNCA) on March 27, 2023 through an agreement with the Federal Deposit Insurance Corporation ("FDIC") which included all of the assets and liabilities of Silicon Valley Bank including all bank deposits and allowing Silicon Valley Bank to continue its operations. In order to mitigate risks associated with our banking deposits, the Company maintains a significant portion of its liquidity in U.S. Treasury money market funds and other short-term investments with custodial services provided by U.S. Bank, N.A., refer to Note 5. Short-term Investments and Note 7. Fair Value Measurements . The Company continues to monitor the circumstances surrounding First Citizens BancShares, Inc. and its acquisition of Silicon Valley Bank and has not experienced nor anticipates any material impacts on its financial condition or operations.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make certain estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management’s estimates include, but are not limited to, those related to the accrual of research and development expenses and general and administrative costs, certain financial instruments recorded at fair value, the valuation of stock-based compensation, and the valuation allowance for deferred tax assets. The Company bases its estimates on historical experience, changes in circumstance and facts, and on various other market-specific and relevant assumptions that it believes to be reasonable under the circumstances. Accordingly, actual results could be materially different from those estimates.
Risks and Uncertainties	Risks and Uncertainties The product candidate being developed by the Company requires approval from the U.S. Food and Drug Administration (“FDA”) or foreign regulatory agencies prior to commercial sales. There can be no assurance that the Company’s product candidate will receive the necessary approvals. If the Company is denied regulatory approval of its product candidate, or if approval is delayed, it may have a material adverse impact on the Company’s business, results of operations, and its financial position. The Company is subject to a number of risks similar to other life science companies, including, but not limited to, risks related to the successful discovery and development of drug candidates, raising additional capital, development of competing drugs and therapies, protection of proprietary technology, and market acceptance of the Company’s products. As a result of these and other factors and the related uncertainties, there can be no assurance of the Company’s future success.
Concentration of Credit Risk	Concentration of Credit Risk We are subject to credit risk from our portfolio of cash equivalents and marketable securities. These investments were made in accordance with our investment policy which specifies the categories, allocations, and ratings of securities we may consider for investment. The primary objective of our investment activities is the preservation of principal, maintenance of liquidity that is sufficient to meet cash flow requirements while at the same time maximizing total return on investments without significantly increasing risk. We maintain our cash and cash equivalents and marketable securities with a limited number of financial institutions. Deposits held with the financial institutions may from time to time exceed the amount of insurance provided on such deposits. We are exposed to credit risk in the event of a default by the financial institutions holding our cash, cash equivalents, and marketable securities to the extent recorded on the consolidated balance sheets. In order to mitigate such risks associated with our banking deposits, the Company maintains a significant portion of its liquidity in U.S. Treasury money market funds and other short-term investments.
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company's chief operating decision maker is the Chief Executive Officer. We have one operating segment, specialty pharmaceuticals within the respiratory system.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There are no recent accounting pronouncements issued by the FASB, the American Institute of Certified Public Accountants, or the SEC that are believed by the Company's management to have a material effect, if any, on the Company’s condensed consolidated financial statements.

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): June 30, 2023 December 31, 2022 Prepaid contracted research and development costs $ 1,340 $ 1,822 R&D tax credit receivable 801 792 Prepaid insurance 221 231 VAT receivable 200 162 Deposits and other 159 71 Total prepaid expenses and other current assets $ 2,721 $ 3,078

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of (in thousands): June 30, 2023 December 31, 2022 Accrued compensation $ 1,403 $ 2,365 Accrued contracted research and development costs 1,351 1,322 Accrued general and administrative costs 562 782 Lease liability 67 64 Total accrued expenses and other current liabilities $ 3,383 $ 4,533

Short-term Investments (Tables)

Short-term Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Major Security Type of Investments	The Company’s investment policy seeks to preserve capital and maintain sufficient liquidity to meet operational and other needs of the business. The following table summarizes, by major security type, the Company’s investments (in thousands): As of June 30, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term investments U.S. government securities $ 82,491 $ 2 $ ( 59 ) $ 82,434 Total short-term investments $ 82,491 $ 2 $ ( 59 ) $ 82,434 As of December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term investments U.S. government securities $ 73,784 $ 8 $ ( 16 ) $ 73,776 Total short-term investments $ 73,784 $ 8 $ ( 16 ) $ 73,776

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Carrying Value and Future Minimum Payments	The following table summarizes the components of the long-term debt carrying value, which approximates the fair value (in thousands): Future minimum payments due during the year ended December 31, June 30, 2023 December 31, 2022 2023 — — 2024 — — 2025 — — 2026 17,667 17,667 2027 9,562 9,562 Total future minimum payments 27,229 27,229 Unamortized end of term charge ( 556 ) ( 630 ) Debt issuance costs ( 422 ) ( 478 ) Debt discount related to warrants ( 38 ) ( 43 ) Total debt 26,213 26,078 Current portion of long-term debt — — Long-term debt $ 26,213 $ 26,078

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Fair Value of Financial Instruments	The fair value of these instruments as of June 30, 2023 and December 31, 2022 was as follows (in thousands): Quoted Prices in Significant Significant Total As of June 30, 2023 Cash equivalents: U.S. Treasury money market funds $ 20,919 $ — $ — $ 20,919 Short-term investments: U.S. government securities 82,434 — — 82,434 As of December 31, 2022 Cash equivalents: U.S. Treasury money market funds $ 48,804 $ — $ — $ 48,804 Short-term investments: U.S. government securities 73,776 — — 73,776

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Company's Shares of Common Stock Reserved for Issuance	The Company’s shares of common stock reserved for issuance as of the periods indicated were as follows: June 30, 2023 December 31, 2022 April 2017 Warrants 24,725 24,725 June 2017 Warrants 41,736 41,736 December 2018 Warrants 11,332 11,332 2017 Pre-funded Warrants 775,000 775,000 Pre-funded PIPE Warrants 5,780,537 5,780,537 2021 Pre-funded Warrants 32,175,172 32,175,172 Stock options outstanding 8,530,680 7,933,184 Issued and nonvested RSUs 2,388,625 1,942,250 Total shares reserved 49,727,807 48,683,936
Summary of Outstanding Warrants for Company's Common Stock	The following table summarizes the outstanding warrants for the Company’s common stock as of June 30, 2023: Expiration Date Shares Underlying Exercise Price October 2024 775,000 $ 0.01 April 2027 24,725 $ 2.87 June 2027 41,736 $ 2.87 December 2028 11,332 $ 2.87 None 37,955,709 $ 0.001 38,808,502
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) as of the dates indicated and the change during the period were (in thousands): Foreign Exchange Translation Adjustment Unrealized Gain (Loss) on ST Investments Total Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2021 $ 54 $ ( 49 ) $ 5 Change $ ( 648 ) $ 38 $ ( 610 ) Balance, December 31, 2022 $ ( 594 ) $ ( 11 ) $ ( 605 ) Change $ 32 $ ( 46 ) $ ( 14 ) Balance, June 30, 2023 $ ( 562 ) $ ( 57 ) $ ( 619 )

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Manufacturing Commitments and Contingencies	The following table summarizes manufacturing commitments and contingencies as of the period indicated (in thousands): June 30, 2023 Molgramostim manufacturer: Achievement of certain milestones related to validation of API and regulatory approval of $ 2,300 Molgramostim nebulizer manufacturer: Achievement of various development activities and regulatory approval of nebulizer utilized 542 Total manufacturing and other commitments $ 2,842

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Awards Activity Under the 2008 Plan, 2015 Plan and Inducement Plan	The following table provides a summary of stock-based awards activity for the six months ended June 30, 2023: Stock Options: Outstanding at December 31, 2022 7,933,184 Granted 770,000 Exercised ( 101,504 ) Expired/cancelled/forfeited ( 71,000 ) Outstanding at June 30, 2023 8,530,680 The total compensation cost related to non-vested stock options not yet recognized as of June 30, 2023 , was $ 4.9 million, which will be recognized over a weighted-average period of approximately 3.1 years . RSUs: Outstanding at December 31, 2022 1,942,250 Granted 450,000 Vested ( 2,606 ) Forfeited ( 1,019 ) Outstanding at June 30, 2023 2,388,625
Stock-based Compensation Expense included in Accompanying Statements of Operations and Comprehensive Loss	Stock-based compensation expense is included in the following line items in the accompanying statements of operations and comprehensive loss for the three and six months ended June 30, 2023 and 2022 (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Research and development $ 280 $ 71 $ 534 $ 247 General and administrative 678 385 1,288 783 Total stock-based compensation $ 958 $ 456 $ 1,822 $ 1,030

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Anti-dilutive Equity Instruments Excluded from Calculation of Diluted Net Loss Per Share	The following equity instruments were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Six months ended June 30, 2023 2022 Awards under equity incentive plan 8,530,680 6,064,278 Non-vested restricted shares and restricted stock units 2,388,625 1,141,875 Warrants to purchase common stock 77,793 77,793 Total 10,997,098 7,283,946
Reconciles Basic Earnings Per Share and Diluted Earnings Per Share of Common Stock	The following table calculates basic earnings per share of common stock and diluted earnings per share of common stock for the three and six months ended June 30, 2023 and 2022 (in thousands, except share and per share amounts): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Net loss $ ( 11,443 ) $ ( 9,164 ) $ ( 22,000 ) $ ( 17,464 ) Net loss attributable to common ( 11,443 ) ( 9,164 ) ( 22,000 ) ( 17,464 ) Undistributed earnings and net loss ( 11,443 ) ( 9,164 ) ( 22,000 ) ( 17,464 ) Weighted-average common shares 152,796,617 152,771,103 152,778,031 152,770,434 Basic and diluted EPS $ ( 0.07 ) $ ( 0.06 ) $ ( 0.14 ) $ ( 0.11 )

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Summary of Net Proceeds after Deducting Underwriting Discounts Commissions and Other Estimated Offering Expenses	The July 2023 Offering resulted in net proceeds to the Company of approximately $ 74.7 million, after deducting final underwriting discounts, commissions, and other estimated offering expenses, as follows (in thousands): Financial instruments Proceeds Common stock $ 63,000 Pre-funded warrants 16,994 Total 79,994 Offering expenses $ ( 5,300 ) Net proceeds $ 74,694

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 USD ($) Segment
Organization And Nature Of Operations [Line Items]
Number of operating segments | Segment	1
Product [Member]
Organization And Nature Of Operations [Line Items]
Revenue from inception to date | $	$ 0

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit	$ (360,671)		$ (338,671)
Cash in operating activities	(22,298)	$ (17,741)
Cash and cash equivalents	22,745		52,100
Short-term investments	$ 82,434		$ 73,776
Number of operating segments | Segment	1

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid contracted research and development costs	$ 1,340	$ 1,822
R&D tax credit receivable	801	792
Prepaid insurance	221	231
VAT receivable	200	162
Deposits and other	159	71
Total prepaid expenses and other current assets	$ 2,721	$ 3,078

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets - Additional Information (Detail) - Savara ApS [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expenses And Other Current Assets [Line Items]
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent	22%
Prepaid Expenses and Other Current Assets [Member]
Prepaid Expenses And Other Current Assets [Line Items]
Research and development tax credits receivable		$ 0.8
Other Non-current Assets [Member]
Prepaid Expenses And Other Current Assets [Line Items]
Research and development tax credits receivable	$ 0.8

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation	$ 1,403	$ 2,365
Accrued contracted research and development costs	1,351	1,322
Accrued general and administrative costs	562	782
Lease liability	67	64
Total accrued expenses and other current liabilities	$ 3,383	$ 4,533

Short-term Investments - Summar

Short-term Investments - Summary of Major Security and Type of Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 82,491	$ 73,784
Gross Unrealized Gains	2	8
Gross Unrealized Losses	(59)	(16)
Fair Value	82,434	73,776
U.S. Government Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	82,491	73,784
Gross Unrealized Gains	2	8
Gross Unrealized Losses	(59)	(16)
Fair Value	$ 82,434	$ 73,776

Short-term Investments - Additi

Short-term Investments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Realized gains or losses on investments	$ 0	$ 0

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($)				6 Months Ended
		Apr. 21, 2022	Apr. 28, 2017	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Repayment of outstanding amounts under Loan Agreement	[1]				$ 26,350,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member]
Debt Instrument [Line Items]
Loan agreement amendment date			Oct. 31, 2017
Loan agreement amendment date one			Dec. 04, 2018
Loan agreement amendment date two			Jan. 31, 2020
Loan agreement amendment date three			Mar. 30, 2021
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Loan agreement amendment date		Apr. 21, 2022
Principal amount		$ 26,500,000	$ 25,000,000
Repayment of outstanding amounts under Loan Agreement			25,000,000
Prepayment fee			100,000
Payments of Debt Issuance Costs				$ 100,000
End of term charge			$ 1,400,000
Percentage of obligation to pay closing fees and final payment		2.75%
Debt instrument payment description				Pursuant to the Amended Loan Agreement, the loan has an interest-only monthly payment through April 21, 2026 (the “Interest-Only Period”) and thereafter equal monthly installments of principal plus interest over 12 months until April 21, 2027 (the “Maturity Date”). However, the Company may elect to extend the Interest-Only Period until the Maturity Date if it maintains cash and cash equivalents equal to at least 1.75 times the outstanding principal amount of the loan during the fifth year. If the Interest-Only Period is extended, all principal and unpaid interest is due and payable on the Maturity Date.
Debt instrument principal and interest payment period		12 months
Debt instrument, maturity rate range, end		Apr. 21, 2027
Interest only extension cash percentage of outstanding principal		1.75%
Frequency of principal plus interest repayment period		equal monthly installments
Interest rate, basis spread		0.50%
Debt instrument, interest rate		3%
Extinguishment Of Debt				$ 0
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument covenants cash and cash equivalents threshold limit		$ 40,000,000
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan [Member] | Before First Anniversary Closing Date [Member}
Debt Instrument [Line Items]
Prepayment fee percentage		4.25%
Loan and Security Agreement [Member] | Silicon Valley Bank [Member] | Term Loan [Member] | After First And Before Second Anniversary Closing Date
Debt Instrument [Line Items]
Prepayment fee percentage		1%
[1] As discussed in Note 6. Long-term Debt , the Amended Loan Agreement (as defined herein) executed on April 21, 2022 was accounted for as a modification. The Company used the proceeds from the Amended Loan Agreement to repay the outstanding amounts under the Loan Agreement from Silicon Valley Bank.

Long-term Debt - Carrying Value

Long-term Debt - Carrying Value and Future Minimum Payments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2026	$ 17,667	$ 17,667
2027	9,562	9,562
Total future minimum payments	27,229	27,229
Unamortized end of term charge	(556)	(630)
Debt issuance costs	(422)	(478)
Debt discount related to warrants	(38)	(43)
Total debt	26,213	26,078
Long-term debt	$ 26,213	$ 26,078

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Increase (decrease) in carrying value of IPR&D due to foreign currency translation	$ 0.1	$ (0.9)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value of Financial Instruments (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
U.S. Treasury Money Market Funds [Member]
Cash equivalents:
Cash equivalents	$ 20,919	$ 48,804
U.S. Government Securities [Member]
Short-term investments:
Short-term investments	82,434	73,776
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury Money Market Funds [Member]
Cash equivalents:
Cash equivalents	20,919	48,804
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Securities [Member]
Short-term investments:
Short-term investments	$ 82,434	$ 73,776

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jul. 16, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jul. 06, 2021
Class Of Warrant Or Right [Line Items]
Common stock, par value		$ 0.001		$ 0.001
Evercore Group L.L.C., [Member]
Class Of Warrant Or Right [Line Items]
Common stock, shares sold		0	0
Common stock, par value					$ 0.001
Sales commissions in fixed percentage of gross proceeds per share					3%
Common stock sales agreement, effective date	Jul. 16, 2021
Evercore Group L.L.C., [Member] | Maximum [Member]
Class Of Warrant Or Right [Line Items]
Amount available to sell under equity program					$ 60

Stockholders' Equity - Company'

Stockholders' Equity - Company's Shares of Common Stock Reserved for Issuance (Detail) - shares	Jun. 30, 2023	Dec. 31, 2022
Class Of Warrant Or Right [Line Items]
Total shares reserved	49,727,807	48,683,936
April 2017 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	24,725	24,725
June 2017 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	41,736	41,736
December 2018 Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	11,332	11,332
2017 Pre-Funded Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	775,000	775,000
Pre-Funded PIPE Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	5,780,537	5,780,537
2021 Pre-funded Warrants [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	32,175,172	32,175,172
Stock Options Outstanding [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	8,530,680	7,933,184
Issued and nonvested RSUs [Member]
Class Of Warrant Or Right [Line Items]
Total shares reserved	2,388,625	1,942,250

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Outstanding Warrants for Company's Common Stock (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Class Of Warrant Or Right [Line Items]
Shares Underlying Outstanding Warrants	38,808,502
Exercise Price One [Member]
Class Of Warrant Or Right [Line Items]
Expiration Date	2024-10
Shares Underlying Outstanding Warrants	775,000
Exercise Price | $ / shares	$ 0.01
Exercise Price Two [Member]
Class Of Warrant Or Right [Line Items]
Expiration Date	2027-04
Shares Underlying Outstanding Warrants	24,725
Exercise Price | $ / shares	$ 2.87
Exercise Price Three [Member]
Class Of Warrant Or Right [Line Items]
Expiration Date	2027-06
Shares Underlying Outstanding Warrants	41,736
Exercise Price | $ / shares	$ 2.87
Exercise Price Four [Member]
Class Of Warrant Or Right [Line Items]
Expiration Date	2028-12
Shares Underlying Outstanding Warrants	11,332
Exercise Price | $ / shares	$ 2.87
Exercise Price Five [Member]
Class Of Warrant Or Right [Line Items]
Shares Underlying Outstanding Warrants	37,955,709
Exercise Price | $ / shares	$ 0.001
Expiration Date	None

Stockholders' Equity - Componen

Stockholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Total Accumulated Other Comprehensive Income (Loss)	$ (605)	$ 5
Change	(14)	(610)
Total Accumulated Other Comprehensive Income (Loss)	(619)	(605)
Foreign Exchange Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Total Accumulated Other Comprehensive Income (Loss)	(594)	54
Change	32	(648)
Total Accumulated Other Comprehensive Income (Loss)	(562)	(594)
Unrealized Gain (Loss) on ST Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Total Accumulated Other Comprehensive Income (Loss)	(11)	(49)
Change	(46)	38
Total Accumulated Other Comprehensive Income (Loss)	$ (57)	$ (11)

Commitments - Additional Inform

Commitments - Additional Information (Detail) - USD ($) $ in Millions		6 Months Ended
	Mar. 05, 2021	Jun. 30, 2023
Commitments And Contingencies [Line Items]
Estimated service fees, pass through expenses, and investigator fees	$ 33.4
Active Pharmaceutical Ingredients [Member]
Commitments And Contingencies [Line Items]
Agreement description		Under a manufacture and supply agreement with the active pharmaceutical ingredients (“API”) manufacturer for molgramostim, the Company must make certain payments to the API manufacturer upon achievement of the milestones outlined in the table set forth below. Additionally, upon first receipt of marketing approval by the Company from a regulatory authority in a country for a product containing the API for therapeutic use in humans and ending the earlier of (i) ten (10) years thereafter or (ii) the date a biosimilar of such product is first sold in such country, the Company shall pay the API manufacturer a royalty equal to low-single digits of the net sales in that country.
Nebulizer [Member]
Commitments And Contingencies [Line Items]
Royalty percent on net sale		3.50%

Commitments - Schedule of Manuf

Commitments - Schedule of Manufacturing Commitments and Contingencies (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Commitments And Contingencies [Line Items]
Total manufacturing and other commitments	$ 2,842
Active Pharmaceutical Ingredients [Member]
Commitments And Contingencies [Line Items]
Achievement of certain milestones related to validation of API and regulatory approval of molgramostim	2,300
Molgramostim Nebulizer Manufacturer [Member]
Commitments And Contingencies [Line Items]
Achievement of various development activities and regulatory approval of nebulizer utilized to administer molgramostim	$ 542

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation cost not yet recognized | $	$ 4.9
Weighted-average period to be recognized	3 years 1 month 6 days
RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation cost not yet recognized | $	$ 1.8
Weighted-average period to be recognized	1 year 4 months 24 days
2008 Stock Option Plan [Member] | Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock based awards	0
2015 Omnibus Incentive Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock available for grant	4,783,788
2008 Plan and 2015 Plan [Member] | Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting interval period	quarterly
Vesting period	4 years
Contractual term	10 years
2008 Plan and 2015 Plan [Member] | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting interval period	quarterly
Vesting period	4 years
2008 Plan and 2015 Plan [Member] | RSUs [Member] | Cliff Vest [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
2021 Inducement Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock available for grant	615,000
2021 Inducement Equity Incentive Plan [Member] | Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting interval period	quarterly
Vesting period	4 years
Contractual term	10 years
2021 Inducement Equity Incentive Plan [Member] | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-based Awards Activity Under the 2008 Plan, 2015 Plan and Inducement Plan (Detail)	6 Months Ended
	Jun. 30, 2023 shares
Share-Based Payment Arrangement [Abstract]
Stock Options, Outstanding at beginning balance	7,933,184
Stock Options, Granted	770,000
Stock Options, Exercised	(101,504)
Stock Options, Forfeited	(71,000)
Stock Options, Outstanding at ending balance	8,530,680
RSUs, Outstanding at beginning balance	1,942,250
RSUs, Granted	450,000
RSUs, Vested	(2,606)
RSUs, Forfeited	(1,019)
RSUs, Outstanding at ending balance	2,388,625

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense included in Accompanying Statements of Operations and Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 958	$ 456	$ 1,822	$ 1,030
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	280	71	534	247
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 678	$ 385	$ 1,288	$ 783

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Anti-dilutive Equity Instruments Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share Basic [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	10,997,098	7,283,946
Awards under Equity Incentive Plan [Member]
Earnings Per Share Basic [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	8,530,680	6,064,278
Nonvested Restricted Shares and Restricted Stock Units [Member]
Earnings Per Share Basic [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	2,388,625	1,141,875
Warrants to Purchase Common Stock [Member]
Earnings Per Share Basic [Line Items]
Anti-dilutive securities excluded from calculation of diluted net loss per share	77,793	77,793

Net Loss Per Share - Reconciles

Net Loss Per Share - Reconciles Basic Earnings Per Share and Diluted Earnings Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (11,443)	$ (10,557)	$ (9,164)	$ (8,300)	$ (22,000)	$ (17,464)
Net loss attributable to common stockholders	(11,443)		(9,164)		(22,000)	(17,464)
Undistributed earnings and net loss attributable to common stockholders, basic and diluted	$ (11,443)		$ (9,164)		$ (22,000)	$ (17,464)
Weighted Average Number of Shares Outstanding, Basic	152,796,617		152,771,103		152,778,031	152,770,434
Weighted Average Number of Shares Outstanding, Diluted	152,796,617		152,771,103		152,778,031	152,770,434
Earnings Per Share, Basic	$ (0.07)		$ (0.06)		$ (0.14)	$ (0.11)
Earnings Per Share, Diluted	$ (0.07)		$ (0.06)		$ (0.14)	$ (0.11)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ / shares in Units, $ in Thousands	Jul. 17, 2023 USD ($) $ / shares shares
Subsequent Event [Line Items]
Net proceeds after deducting underwriting discounts commissions and other estimated offering expenses | $	$ 74,694
Registered Direct Offering of Common Stock [Member]
Subsequent Event [Line Items]
Common stock, shares sold | shares	21,000,000
Common stock, sale of stock, price per share	$ 3
Common stock, pre-funded warrants to purchase | shares	5,666,667
Common Stock pre funded warrants exercise price	$ 0.001
Common Stock pre funded warrants per warrant	$ 2.999
Net proceeds after deducting underwriting discounts commissions and other estimated offering expenses | $	$ 74,700
Common stock, sale of stock, premium percentage	1%

Subsequent Events - Summary of

Subsequent Events - Summary of Net Proceeds after Deducting Underwriting Discounts, Commissions and Other Estimated Offering Expenses (Detail) - Subsequent Event [Member] $ in Thousands	Jul. 17, 2023 USD ($)
Subsequent Event [Line Items]
Total common stock and pre-funded warrants	$ 79,994
Offering expenses	(5,300)
Net proceeds	74,694
Common Stock [Member]
Subsequent Event [Line Items]
Total common stock and pre-funded warrants	63,000
Pre-Funded Warrants [Member]
Subsequent Event [Line Items]
Total common stock and pre-funded warrants	$ 16,994