Company: ZVRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001628280-25-039967
Chunk: 194

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 194
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 Albania, Bosnia, Kosovo, Montenegro, Serbia and North Macedonia (“Geographical Europe”). We have the right to receive a royalty of up to 10% of the net sales of OLPRUVA in Geographical Europe. 

Results of Operations

Comparison of the three months ended June 30, 2025, and 2024 (in thousands):

Three months ended June 30,Period-to-20252024Period ChangeRevenue, net$25,881 $4,449 $21,432 Cost of product revenue (excluding $1,616 and $1,546 in intangible asset amortization for the three months ended June 30, 2025, and 2024, respectively, shown separately below)12,379 3,573 8,806 Intangible asset amortization1,616 1,546 70 Impairment of intangible assets58,710 — 58,710 Operating expenses:Research and development3,433 10,521 (7,088)Selling, general and administrative20,782 12,604 8,178 Total operating expenses24,215 23,125 1,090 Loss from operations(71,039)(23,795)(47,244)Other income (expense):Gain on sale of PRV148,325 — 148,325 Interest expense(2,009)(2,110)101 Fair value adjustment related to warrant and CVR liability(747)5,779 (6,526)Fair value adjustment related to investments(2)1 (3)Interest and other income, net2,378 270 2,108 Total other income147,945 3,940 144,005 Income (loss) before income taxes76,906 (19,855)96,761 Income tax expense(2,199)(70)(2,129)Net income (loss)$74,707 $(19,925)$94,632 

Net Income (Loss)

Net income for the three months ended June 30, 2025, was $74.7 million, compared to a net loss of $19.9 million for the three months ended June 30, 2024, an increase in net income of $94.6 million. The increase was primarily attributable to the gain on sale of the PRV of $148.3 million and an increase of $21.4 million in revenue,