Company: ZVRA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001437749-25-016523
Chunk: 24

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 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. 

   The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts and other receivables, and accounts payable and accrued expenses approximate their respective fair values due to the short-term nature of such instruments.
    
   Assets and Liabilities Measured at Fair Value on a Recurring Basis
    
   The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. This determination requires significant judgments to be made. The following table summarizes the conclusions reached regarding fair value measurements as of  March 31, 2025, and  December 31, 2024 (in thousands):

      Balance as of March 31, 2025  Quoted Prices in Active Markets for Identical Assets (Level 1)   Significant Other Observable Inputs (Level 2)   Significant Unobservable Inputs (Level 3) 
 CVR liability  $3,400  $—  $—  $3,400 
 Warrant liabilities   13,030   —   —   13,030 
 Total liabilities  $16,430  $—  $—  $16,430 
                 
 Securities:                 
 U.S. Treasury securities  $25,291  $25,291  $—  $— 
 Corporate bonds   6,091   —   6,091   — 
 Total assets  $31,382  $25,291  $6,091  $— 

       Balance as of December 31, 2024   Quoted Prices in Active Markets for Identical Assets (Level 1)   Significant Other Observable Inputs (Level 2)   Significant Unobservable Inputs (Level 3) 
 CV