Zevra Therapeutics Reports 487% Revenue Increase to $25.9 Million in Q2 2025

Zevra Therapeutics, Inc. reported significant financial performance improvements in its latest quarterly filing, with net revenues reaching $25.9 million for the three months ended June 30, 2025, compared to $4.4 million in the same period last year. This increase of approximately 487% was primarily driven by the successful launch of MIPLYFFA, an FDA-approved treatment for Niemann-Pick disease type C, which generated $21.5 million in sales. For the six-month period, revenues totaled $46.3 million, up from $7.9 million in the prior year, reflecting a similar trend in product sales.

The company also reported a net income of $74.7 million for the second quarter of 2025, a substantial turnaround from a net loss of $19.9 million in the same quarter of 2024. This improvement was largely attributed to a one-time gain of $148.3 million from the sale of a priority review voucher (PRV) associated with MIPLYFFA, alongside the increase in product sales. However, the company recorded an impairment charge of $58.7 million related to intangible assets, specifically concerning OLPRUVA, which impacted overall profitability.

In terms of operational developments, Zevra completed the acquisition of Acer Therapeutics on November 17, 2023, which has expanded its product portfolio to include OLPRUVA and several investigational candidates. The merger is expected to enhance Zevra's capabilities in addressing rare diseases. The company has also streamlined its operations by discontinuing in-house drug discovery activities, focusing instead on late-stage clinical development and commercialization efforts.

Zevra's operational metrics indicate a growing customer base, with 129 enrollments for MIPLYFFA as of June 30, 2025. The company continues to utilize a single specialty pharmacy provider for distribution, which has been effective in managing product sales. Additionally, Zevra's cash and cash equivalents increased to $47.7 million, up from $33.8 million at the end of 2024, bolstered by the proceeds from the PRV sale and ongoing product sales.

Looking ahead, Zevra aims to leverage its recent successes to further expand its market presence and product offerings. The company plans to continue its commercialization efforts for MIPLYFFA and OLPRUVA while exploring additional strategic partnerships and acquisitions to enhance its pipeline. However, management cautioned that future revenue generation remains uncertain and will depend on the successful execution of its commercialization strategies and the ability to navigate the complexities of the rare disease market.