Company: ZVRA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001434647-25-000011
Chunk: 161

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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airment of intangible assets58,710 — 58,710 Operating expenses:Research and development10,123 33,743 (23,620)Selling, general and administrative57,262 38,743 18,519 Total operating expenses67,385 72,486 (5,101)Loss from operations(72,258)(71,587)(671)Other income:Gain on sale of PRV148,325 — 148,325 Interest expense(6,029)(5,157)(872)Fair value adjustment related to warrant and CVR liability(1,379)4,660 (6,039)Fair value adjustment related to investments119 64 55 Interest and other income, net5,234 2,248 2,986 Total other income146,270 1,815 144,455 Income (loss) before income taxes74,012 (69,772)143,784 Income tax expense(2,948)— (2,948)Net income (loss)$71,064 $(69,772)$140,836 

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Net income (loss)

Net income for the nine months ended September 30, 2025, was $71.1 million, compared to net loss of $69.8 million for the nine months ended September 30, 2024, an increase in net income of approximately $140.8 million. The increase was primarily attributable to the gain on sale of the PRV of $148.3 million and an increase of $60.8 million in revenue, partially offset by $58.7 million in impairment of intangible assets and $11.7 million in inventory obsolescence.

Revenue, net

Revenue for the nine months ended September 30, 2025, was $72.3 million, compared to revenue of $11.6 million for the nine months ended September 30, 2024, an increase of approximately $60.8 million. The increase was primarily due to an increase in product sales of MIPLYFFA of $61.0 million.

Cost of product revenue

Cost of product revenue for the nine months ended September 30, 2025, increased by approximately $8.9 million compared to the cost of product revenue for the nine months ended September 30, 2024. The increase was primarily due to $11.7 million in inventory obsolescence for the nine months ended September