Company: ZVRA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001437749-25-016523
Chunk: 20

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 20
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March 31, 2025  December 31, 2024 
 Outstanding awards under equity incentive plans   7,734,741   7,789,658 
 Outstanding common stock warrants   5,483,527   5,483,537 
 Possible future issuances under equity incentive plans   6,287,941   5,383,165 
 Possible future issuances under employee stock purchase plans   1,148,012   1,148,012 
 Total common shares reserved for future issuance   20,654,221   19,804,372 

   Common Stock Activity
    
   The following table summarizes common stock activity for the three months ended  March 31, 2025:

      Shares of Common Stock 
 Balance as of January 1, 2025   53,670,709 
 Common stock issued as compensation to third parties   9,306 
 Common stock issued as a result of stock options exercised or released   999,338 
 Warrants issued as a result of stock warrants exercised   10 
 Balance as of March 31, 2025   54,679,363 

   Authorized, Issued, and Outstanding Preferred Stock
    
   As of  March 31, 2025, and  December 31, 2024, the Company had 10,000,000 shares of authorized preferred stock, none of which were designated, issued, or outstanding.

       17

   Warrants to Purchase Common Stock
    
   The Company has issued warrants to purchase common stock to various third parties, of which 5,483,527 remain outstanding as of  March 31, 2025, and are immediately exercisable. These warrants qualify as participating securities under ASC Topic 260, Earnings per Share, and are treated as such in the net loss per share calculation (Note J). The Company  may be required to redeem these warrants for a cash amount equal to the Black-Scholes value of the portion of the warrants to be redeemed (the “Put Option”).
    
   In connection with the Merger, in  November 2023, the Company directly issued to certain investors an aggregate of 1,382,489 shares of its common stock, par value $0.0001 per share, and accompanying warrants to purchase up to 1,382,489 shares of