Company: ZVRA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001434647-25-000011
Chunk: 102

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 102
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 for the nine months ended September 30, 2024, an increase of approximately $60.8 million. The increase was primarily due to an increase in product sales of MIPLYFFA of $61.0 million.

Cost of product revenue

Cost of product revenue for the nine months ended September 30, 2025, increased by approximately $8.9 million compared to the cost of product revenue for the nine months ended September 30, 2024. The increase was primarily due to $11.7 million in inventory obsolescence for the nine months ended September 30, 2025, compared to $5.2 million in inventory obsolescence for the nine months ended September 30, 2024, as well as royalty costs related to product sales of MIPLYFFA.

Intangible asset amortization

Intangible asset amortization for the nine months ended September 30, 2025, decreased by $1.1 million compared to the intangible asset amortization for the nine months ended September 30, 2024, primarily due to definite-lived intangible assets acquired in the Merger no longer being amortized as a result of the impairment.

Impairment of intangible assets

Impairment of intangible assets for the nine months ended September 30, 2025, was $58.7 million and was composed of the impairment loss on the OLPRUVA definite-lived intangible asset. There was no comparable impairment in the prior year.

Research and development

Research and development expenses decreased by $23.6 million, from $33.7 million for the nine months ended September 30, 2024, to $10.1 million for the nine months ended September 30, 2025. The decrease was primarily driven by a decrease in spending for the Phase 2 clinical study in KP1077 and a decrease in personnel-related costs.

Selling, general and administrative

Selling, general and administrative expenses increased by approximately $18.5 million, from $38.7 million for the nine months ended September 30, 2024, to $57.3 million for the nine months ended September 30, 2025. The period-over-period increase was primarily related to an increase in personnel-related costs, professional fees, and other expenses as we continue to build our commercial organization.

Other income 

Other income for the nine months ended September 30, 2025, was $146.3 million compared to other income of $1.