Company: ZVRA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001437749-25-016523
Chunk: 99

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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. This is amortized on a straight-line basis over the OLPRUVA patent life of 13 years and is reviewed periodically for impairment. Amortization expense is recorded as intangible asset amortization in the unaudited condensed consolidated statements of operations and was $1.3 million and $1.5 million for the three months ended  March 31, 2025 and 2024, respectively.

        In connection with the XOMA License Agreement, the Company owed XOMA a royalty payment of
       $6.0 million upon approval of MIPLYFFA, which was paid in
        October 2024. 
       This definite-lived intangible asset is amortized on a straight-line basis over the MIPLYFFA patent life of approximately
       five years a
       nd is reviewed periodically for impairment. Amortization expense is recorded as intangible asset amortization in the unaudited condensed consolidated statements of operations and was $0.3 million for the 
       three months ended  March 31, 2025
       . No amortization expense related to this definite-lived intangible asset was recognized for the 
       three months ended  March 31, 2024
       . 

      The definite-lived intangible assets that are subject to amortization have been reviewed for impairment whenever events or changes in circumstances have indicated that their carrying amounts  may not be recoverable. The Company’s historical sales experience related to OLPRUVA resulted in management preparing an estimate of future cash flows used to assess the recoverability of such asset. Future cash flows specific to OLPRUVA, which most significantly includes an estimate of forecasted revenues, are based on reasonable and supportable assumptions regarding the cash flows expected to result from the use of the asset and its eventual disposition. As a result of the Company’s analysis, the asset was deemed to be fully recoverable and no impairments were recorded by the Company as of and for the three months ended  March 31, 2025, and 2024.
       
      For intangible assets subject to amortization, estimated amortization expense for the five fiscal years subsequent to March 31, 2025, is expected to be as follows:

     2025 (excluding the three months ended March 31, 2025)  $4,846 
 2026  $6,461