Zevra Therapeutics(ZVRA) - 2025 Q2 - Quarterly Results

Financial Performance - Q2 2025 net revenue reached $25.9 million, with product net revenue of $21.8 million, a significant increase from $4.4 million in Q2 2024[9] - Net income for Q2 2025 was $74.7 million, or $1.24 per basic share, compared to a net loss of $(19.9) million in Q2 2024[9] - Net revenue for the three months ended June 30, 2025, was $25.881 million, a significant increase from $4.449 million in the same period of 2024, representing a growth of 481%[33] - The company reported a net income of $74.707 million for the three months ended June 30, 2025, compared to a net loss of $19.925 million in the same period of 2024[33] - The accumulated deficit decreased to $433.681 million as of June 30, 2025, from $505.289 million at the end of 2024, showing improvement in financial health[35] Operating Expenses - The adjusted net loss for Q2 2025 was $(3.2) million, or $(0.06) per share, excluding one-time items[9] - Operating expenses for Q2 2025 were $24.2 million, up from $23.1 million in Q2 2024, primarily due to increased personnel-related costs[9] - Operating expenses for the three months ended June 30, 2025, were $24.215 million, slightly higher than $23.125 million in the same period of 2024[33] Assets and Liabilities - Cash, cash equivalents, and securities stood at $217.7 million as of June 30, 2025, providing sufficient resources for strategic priorities[9] - Total current assets increased to $226.337 million as of June 30, 2025, up from $86.027 million at the end of 2024, reflecting a growth of 163%[35] - The company’s cash and cash equivalents rose to $47.712 million as of June 30, 2025, compared to $33.785 million at the end of 2024, indicating a 41% increase[35] - Total liabilities as of June 30, 2025, were $139.047 million, a slight increase from $138.461 million at the end of 2024[35] - The company’s total stockholders' equity increased to $117.230 million as of June 30, 2025, compared to $39.666 million at the end of 2024, reflecting a growth of 195%[35] Product Development and Market Access - MIPLYFFA achieved 7 prescription enrollments in Q2 2025, totaling 129 since launch, with market access covering 52% of lives[6] - OLPRUVA recorded 1 prescription enrollment in Q2 2025, bringing the total to 29, with market access at 79% of covered lives[6] - The company enrolled 7 patients in the Phase 3 DiSCOVER trial for celiprolol, totaling 39 enrolled patients[6] - The company submitted a Marketing Authorization Application for arimoclomol to the European Medicines Agency, meeting its guidance for submission in the second half of 2025[6] Sale of Assets - The company completed the sale of its Pediatric Rare Disease Priority Review Voucher for gross proceeds of $150.0 million, enhancing its balance sheet[5] - The company recorded a gain on the sale of PRV amounting to $148.325 million for the three months ended June 30, 2025[33] - Research and development expenses for the six months ended June 30, 2025, totaled $6.691 million, down from $22.798 million in the same period of 2024[33]