SAVARA INC. (NASDAQ:SVRA) Files An 8-K Changes in Registrant’s Certifying Accountant
Item4.01. Changes in Registrants Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm.
On May26, 2017, Savara Inc. a Delaware corporation formerly known
as Mast Therapeutics, Inc. (the Company)
dismissed Mayer Hoffman McCann P.C. (MHM), which
was serving as the Companys independent registered public
accounting firm. The decision to change accountants was approved
by the audit committee of the Companys board of directors (the
Audit Committee).
The report of MHM on the Companys consolidated financial
statements for the year ended December31, 2016 did not contain an
adverse opinion or disclaimer of opinion, nor was it qualified or
modified as to uncertainty, audit scope, or accounting
principles, except that the report included an explanatory
paragraph related to the uncertainty of the Companys ability to
continue as a going concern.
During the Companys most recent fiscal year, which ended
December31, 2016, and the subsequent interim period through
May26, 2017 there were no: (1)disagreements (as defined in Item
304(a)(1)(iv) of Regulation S-K and the related instructions)
with MHM on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures,
which disagreement if not resolved to the satisfaction of MHM
would have caused MHM to make reference thereto in its reports on
the consolidated financial statements for such years, or
(2)reportable events (as described in Item 304(a)(1)(v) of
Regulation S-K).
The Company delivered a copy of this Current Report on Form 8-K
to MHM on May26, 2017 and requested that a letter addressed to
the SEC stating whether or not it agrees with the statements made
in response to this Item 4.01 and, if not, stating the respects
in which it does not agree. MHM responded with a letter dated
May30, 2017, stating its agreement with such statements, a copy
of which is filed herewith as Exhibit 16.1.
(b) Engagement of New Independent Registered Public Accounting
Firm.
On May25, 2017, the Audit Committee approved the engagement of
PricewaterhouseCoopers LLP as the Companys independent registered
public accounting firm for the fiscal year ending December31,
2017. Prior to the completion of the Companys business
combination with Aravas Inc., a Delaware corporation formerly
known as Savara Inc. (Aravas),
PricewaterhouseCoopers LLP served as the auditor of Aravas.
PricewaterhouseCoopers LLP served as the principal accountants
for the Company from June28, 2011 until March30, 2016, and
PricewaterhouseCoopers LLP audited the Companys financial
statements for the years ended December31, 2015, 2014, 2013, 2012
and 2011. Other than as required in connection with such audits,
during the years ended December31, 2016 and 2015, and the
subsequent interim period through May25, 2017, neither the
Company nor anyone on its behalf consulted with
PricewaterhouseCoopers LLP, regarding either (i)the application
of accounting principles to a specific transaction, completed or
proposed, or the type of audit opinion that might be rendered on
the Companys financial statements, and neither a written report
nor oral advice was provided to the Company that
PricewaterhouseCoopers LLP concluded was an important factor
considered by the Company in reaching a decision as to any
accounting, auditing or financial reporting issue or (ii)any
matter that was either the subject of a disagreement (as defined
in Item 304(a)(1)(iv) of Regulation S-K and the related
instructions) or a reportable event (as described in Item
304(a)(1)(v) of Regulation S-K).
Item9.01.
Financial Statements and Exhibits.
(d)
Exhibits.
| ExhibitNo. | Description | |
| 16.1 |
Letter from Mayer Hoffman McCann P.C. to the Securities and Exchange Commission, dated May30, 2017 |
About SAVARA INC. (NASDAQ:SVRA)
Savara Inc., formerly Mast Therapeutics, Inc., is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of novel therapies for the treatment of patients with rare respiratory diseases. Its pipeline includes AeroVanc, Molgradex and AIR001. AeroVanc is an inhaled formulation of vancomycin, which the Company is developing for the treatment of persistent methicillin-resistant Staphylococcus aureus, lung infection in cystic fibrosis patients. Molgradex is an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor. It is developing Molgradex for the treatment of autoimmune pulmonary alveolar proteinosis, a rare lung disease. AIR001 is a sodium nitrite solution for inhalation via nebulization. AIR001 is in Phase II clinical development for the treatment of heart failure with preserved ejection fraction, also known as diastolic heart failure or heart failure with preserved systolic function. SAVARA INC. (NASDAQ:SVRA) Recent Trading Information
SAVARA INC. (NASDAQ:SVRA) closed its last trading session down -0.18 at 4.96 with 171,858 shares trading hands.