萨瓦拉公司美股招股说明书(2025-10-29版)

Pre-FundedWarrants to Purchase Shares of Common Stock We are offeringshares of our common stock, $0.001 par value per share, in this offering. We are also offering tocertain of our existing large investors the opportunity to purchase, in lieu of the shares of our common stock, warrants, which werefer to aspre-fundedwarrants, to purchaseshares of our common stock. Eachpre-fundedwarrant will have anexercise price of $0.001 per share. Our common stock is traded on The Nasdaq Global Select Market under the symbol “SVRA.” On October 28, 2025, the lastreported sales price of our common stock on The Nasdaq Global Select Market was $4.41 per share. Investing in our common stock andpre-fundedwarrants involves a high degree of risk. See “Risk Factors” on page S-8of this prospectus supplement and the documents incorporated by reference into this prospectus supplement. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved ofthese securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminaloffense. Delivery of the shares of common stock andpre-fundedwarrantsis expected to be made on or about October, 2025. We have granted the underwriters an option for a period of 30 days to purchase an additionalshares of our commonstock. If the underwriters exercise the option in full, the total underwriting discounts and commissions payable by us will be$, and the total proceeds to us, before expenses, will be $. Joint Book-Running Managers Jefferies GuggenheimSecurities H.C.Wainwright&Co. Table of Contents TABLE OF CONTENTS PROSPECTUS SUPPLEMENTABOUT THIS PROSPECTUS SUPPLEMENTS-1PROSPECTUS SUPPLEMENT SUMMARYS-3THE OFFERINGS-6RISK FACTORSS-8SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSS-12USE OF PROCEEDSS-14DILUTIONS-15DESCRIPTION OFPRE-FUNDEDWARRANTSS-17MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TONON-U.S.HOLDERS OF OUR COMMON STOCK ANDPRE-FUNDEDWARRANTSS-19UNDERWRITINGS-24LEGAL MATTERSS-33EXPERTSS-33WHERE YOU CAN FIND ADDITIONAL INFORMATIONS-34INCORPORATION OF CERTAIN INFORMATION BY REFERENCES-35 PROSPECTUSABOUT THIS PROSPECTUSSPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTSWHERE YOU CAN FIND ADDITIONAL INFORMATIONINCORPORATION OF CERTAIN INFORMATION BY REFERENCEPROSPECTUS SUMMARYRISK FACTORSUSE OF PROCEEDSDESCRIPTION OF COMMON STOCK AND PREFERRED STOCKDESCRIPTION OF DEBT SECURITIESDESCRIPTION OF WARRANTSDESCRIPTION OF UNITSLEGAL OWNERSHIP OF SECURITIESPLAN OF DISTRIBUTIONLEGAL MATTERSEXPERTS Table of Contents ABOUT THIS PROSPECTUS SUPPLEMENT This prospectus supplement and the accompanying base prospectus are part of a registration statement onFormS-3that we filed with the Securities andExchange Commission, or the SEC, using a “shelf” registration process. We provide information to you about this offering of shares of our commonstock andpre-fundedwarrants in two separate documents that are bound together: (1)this prospectus supplement, which describes the specific detailsregarding this offering; and (2)the accompanying base prospectus, which provides general information, some of which may not apply to this offering.Generally, unless the context indicates otherwise, when we refer to this “prospectus,” we are referring to both documents combined. If information inthis prospectus supplement is inconsistent with the accompanying base prospectus, you should rely on this prospectus supplement. However, if anystatement in one of these documents is inconsistent with a statement in another document having a later date (for example, a document incorporated byreference in this prospectus supplement), the statement in the document having the later date modifies or supersedes the earlier statement as ourbusiness, financial condition, results of operations and prospects may have changed since the earlier dates. You should also read and consider theadditional information under the caption “Incorporation of Certain Information By Reference” on page S-35 of this prospectus supplement. In making your investment decision, you should rely only on the information contained or incorporated by reference in this prospectus supplement, inthe accompanying base prospectus and in any free writing prospectus with respect to this offering filed by us with the SEC. We have not, and theunderwriters have not, authorized any person to provide you with different or additional information. If anyone provides you with different, additional orinconsistent information you should not rely on it. You should assume that the information appearing in this prospectus supplement, the accompanyingbase prospectus, any free writing prospectus with respect to the offering filed by us with the SEC and the documents incorporated by reference hereinand therein is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may have changed sincethose dates. We further note that the represent