Company: ZVRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001628280-25-039967
Chunk: 155

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 155
---
327 22,535 17,792 Total operating expenses47,018 45,333 1,685 Loss from operations(76,401)(44,281)(32,120)Other income (expense):Gain on sale of PRV148,325 — 148,325 Interest expense(3,978)(2,845)(1,133)Fair value adjustment related to warrant and CVR liability4,127 9,406 (5,279)Fair value adjustment related to investments(5)(26)21 Interest and other income, net2,921 1,199 1,722 Total other income151,390 7,734 143,656 Income (loss) before income taxes74,989 (36,547)111,536 Income tax expense(3,381)— (3,381)Net income (loss)$71,608 $(36,547)$108,155 

Net Income (Loss)

Net income for the six months ended June 30, 2025, was $71.6 million, compared to net loss of $36.5 million for the six months ended June 30, 2024, an increase in net income of approximately $108.2 million. The increase was primarily attributable to the gain on sale of the PRV of $148.3 million and an increase of $38.4 million in revenue, partially offset by $58.7 million in impairment of intangible assets, $11.7 million in inventory obsolescence, and a decrease in the fair value adjustment related to warrant and CVR liability of $5.3 million. 

Revenue, net

Revenue for the six months ended June 30, 2025, was $46.3 million, compared to revenue of $7.9 million for the six months ended June 30, 2024, an increase of $38.4 million. The increase was primarily due to an increase in product sales of MIPLYFFA of $38.6 million.

Cost of product revenue

Cost of product revenue for the six months ended June 30, 2025, increased by approximately $10.0 million compared to the cost of product revenue for the six months ended June 30, 2024. This increase is primarily due to $11.7 million in inventory obsolescence for the six months ended June 30, 2025, compared to $3.2 million for the six months