Company: ZVRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001628280-25-039967
Chunk: 121

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 net (a)(135,353)(1,788)(138,738)(5,414)Segment net income (loss)$74,707 $(19,925)$71,608 $(36,547)(a) Other expense, net included in segment net income (loss) includes the gain on the sale of the PRV, foreign currency exchange gains and losses, cost of product revenue (excluding intangible asset amortization), 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 $2.6 million and $13.4 million as of June 30, 2025, and December 31, 2024, respectively. The Company holds long-lived assets in Europe of $0.4 million and $0.5 million as of June 30, 2025, and December 31, 2024, respectively.

D.    Inventories

The components of inventory are summarized as follows (in thousands):June 30,2025December 31,2024Raw materials$21 $7,928 Work in progress1,222 3,260 Finished goods647 1,781 Total inventories$1,890 $12,969 

E.    Debt Obligations

Term LoansOn 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”).

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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 N