Company: ZVRA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001434647-25-000011
Chunk: 138

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 138
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30, 2025, and December 31, 2024 (in thousands):Balance as of September 30, 2025Quoted Prices in ActiveMarkets for Identical Assets(Level 1)Significant Other ObservableInputs (Level 2)Significant UnobservableInputs (Level 3)CVR liability$1,750 $— $— $1,750 Warrant liabilities13,767 — — 13,767 Total liabilities$15,517 $— $— $15,517 Securities:U.S. Treasury securities$107,083 $107,083 $— $— Corporate bonds68,852 — 68,852 — Total assets$175,935 $107,083 $68,852 $— 

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Balance as of December 31, 2024Quoted Prices in ActiveMarkets for Identical Assets(Level 1)Significant Other ObservableInputs (Level 2)Significant UnobservableInputs (Level 3)CVR liability$3,500 $— $— $3,500 Warrant liabilities17,804 — — 17,804 Total liabilities$21,304 $— $— $21,304 Securities:U.S. Treasury securities$35,711 $35,711 $— $— Corporate bonds6,010 — 6,010 — Total assets$41,721 $35,711 $6,010 $— WarrantsThe common stock warrant liabilities were recorded at fair value using the BSM option pricing model. The following assumptions were used in determining the fair value of the warrant liabilities valued using the BSM option pricing model as of September 30, 2025, and December 31, 2024:September 30, 2025December 31, 2024Risk-free interest rate3.55% - 3.92%4.08% - 4.23%Volatility60.61% - 63.88% 62.14% - 68.68%Dividend yield— %— %Expected term (years)0.27 - 3.151.02 - 3.89Weighted average fair value$3.10 $3.25 The following table is a reconciliation for the common stock warrant liabilities measured at fair