Company: ZVRA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001437749-25-016523
Chunk: 72

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 time or size limits or other customary parameters or conditions the Company 
       may impose). The Company will pay Citizens JMP a commission equal to 
      3.0% in the aggregate of the gross sales proceeds of any common stock sold through Citizens JMP under the 
      2024 ATM Agreement. As of
        March 31, 2025, no shares have been issued or sold under the 
      2024 ATM Agreement.

       10

   B.Summary of Significant Accounting Policies

   Use of Estimates
    
   The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
    
   On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives of property and equipment, the recoverability of long-lived assets, the incremental borrowing rate for leases, and assumptions used for purposes of determining stock-based compensation, income taxes, the fair value of the derivative and warrant liability and discount and rebate liabilities, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.

      Investments

       The Company maintains investment securities that are classified as available-for-sale securities for which the Company has elected the fair value option under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 
      825, 
      Financial Instruments. As such, these securities are carried at fair value with unrealized gains and losses included in fair value adjustment related to investments on the unaudited condensed consolidated statements of operations. The securities primarily consist of U.S. Treasury securities and U.S. government-sponsored agency securities and are included in securities at fair value in the unaudited condensed consolidated balance sheets. As of M
      arch 31, 2025, and  December 31, 2024, the Company held securities with an aggregate fair value of $31.4 million and $41.7 million, respectively, that contained an aggregate unrealized loss of approximately $3,000 and an aggregate unrealized gain of $18,000, respectively. For securities held at  March 31, 2025,