Zevra Files Definitive Proxy Statement and Mails Letter to Stockholders

Core Viewpoint - Zevra Therapeutics is urging stockholders to support its current board and management team in the upcoming election, emphasizing their successful track record and strategic direction, while opposing the influence of a minority stockholder seeking to replace qualified directors without a clear plan [1][3][30]. Group 1: Company Performance and Strategy - Zevra has achieved total stockholder returns of 54.8% since the appointment of CEO Neil McFarlane in October 2023, outperforming the biotech sector and the Russell 2000 [8][42]. - The company has launched two rare disease therapies, MIPLYFFA and OLPRUVA, and has expanded its commercial capabilities significantly [20][24]. - A comprehensive five-year strategic plan has been established to drive long-term growth, focusing on commercial excellence, pipeline innovation, talent development, and corporate foundation [7][16]. Group 2: Board and Management Recommendations - The board recommends stockholders vote "FOR" the re-election of independent directors Wendy L. Dixon, Ph.D., and Tamara A. Favorito, who bring extensive experience and have contributed to the company's strategic goals [2][11][29]. - The board emphasizes that seven of the eight current directors have joined since 2023, reflecting a proactive refreshment aimed at enhancing governance and oversight [4][27]. Group 3: Opposition to Minority Stockholder Influence - Daniel J. Mangless, a minority stockholder with 2.8% ownership, is attempting to replace two directors without providing a clear strategy for improving the company [4][19][30]. - The board expresses concerns that Mangless' nominees lack the necessary expertise and could disrupt the company's ongoing progress and strategic execution [12][36]. - The board highlights the potential risks associated with electing Mangless' nominees, citing their previous records of stockholder value destruction [9][41].