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

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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 fair value adjustment related to warrant and contingent value right (“CVR”) liabilities, fair value adjustment related to investments, and other overhead expenses.
    
   The Company holds long-lived assets in the United States of $12.3 million and $13.4 million as of  March 31, 2025, and  December 31, 2024, respectively. The Company holds long-lived assets in Europe of $0.4 million and $0.5 million as of  March 31, 2025, and  December 31, 2024, respectively.

       D.  
       Inventories 

   The components of inventory are summarized as follows (in thousands):

        March 31, 

        December 31, 

        2025 

        2024 

        Raw materials 
        
       $
       7,698

       $
       7,928

        Work in progress 

       3,719

       3,260

        Finished goods 

       1,757

       1,781

        Total inventories 
        
       $
       13,174

       $
       12,969

       14

    E. Debt Obligations

   Term Loans
    
   On  April 5, 2024 (the “Term Loans Closing Date”), the Company entered into a credit agreement (the “Credit Agreement”) with HCR Stafford Fund II, L.P., HCR Potomac Fund II, L.P., and Perceptive Credit Holdings IV, LP (collectively, the “Lenders”), and Alter Domus (US) LLC, as administrative agent (the “Administrative Agent”).
    
   Under the terms of the Credit Agreement, the Lenders provided a senior secured loan facility to the Company in the aggregate principal amount of $100.0 million, which is divided into three tranches as follows: (i) $60.0 million which was funded in full on the Term Loans Closing Date; (ii) $20.0 million which is available to the Company in up to two drawings, each in an amount not to exceed $10.0 million, at the Company’s option until 18 months following the Term Loans Closing Date; and (iii) $20.0 million which was available to the Company upon approval by the FDA of the NDA for MIPLYFFA for the treatment