Company: ZVRA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001434647-25-000011
Chunk: 160

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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 the current year, partially offset by royalty costs related to product sales of MIPLYFFA.

36

Intangible asset amortization

Intangible asset amortization for the three months ended September 30, 2025, decreased by $1.2 million compared to the intangible asset amortization for the three months ended September 30, 2024, primarily due to definite-lived intangible assets acquired in the Merger no longer being amortized as a result of the impairment recorded as of and for the period ended June 30, 2025.

Research and development

Research and development expenses decreased by $7.5 million, from $10.9 million for the three months ended September 30, 2024, to $3.4 million for the three months ended September 30, 2025. The decrease was primarily driven by a decrease in spending for the Phase 2 clinical study in KP1077 and a decrease in personnel-related costs.

Selling, general and administrative

Selling, general and administrative expenses increased by $0.7 million, from $16.2 million for the three months ended September 30, 2024, to $16.9 million for the three months ended September 30, 2025. The period-over-period increase was primarily related to an increase in personnel-related costs, professional fees, and other expenses as we continue to build our commercial organization. 

Other expense 

Other expense for the three months ended September 30, 2025, was $5.1 million compared to other expense of $5.9 million for the three months ended September 30, 2024. The decrease was primarily attributable to an increase of $1.3 million in interest and other income, net, partially offset by a decrease in the fair value adjustment related to warrant and CVR liability of $0.8 million.

Comparison of the nine months ended September 30, 2025, and 2024 (in thousands):

Nine months ended September 30,Period-to-20252024Period ChangeRevenue, net$72,345 $11,569 $60,776 Cost of product revenue (excluding $3,546 and $4,619 in intangible asset amortization for the nine months ended September 30, 2025, and 2024, respectively, shown separately below)14,962 6,051 8,911 Intangible asset amortization3,546 4,619 (1,073)Imp