Zevra Therapeutics Reports $20.4 Million Revenue and $3.1 Million Net Loss in Latest Quarter

Zevra Therapeutics, Inc. reported significant financial improvements in its latest quarterly filing, with net revenue reaching $20.4 million for the three months ended March 31, 2025, compared to $3.4 million during the same period in 2024. This increase of $17 million was primarily driven by the successful launch of MIPLYFFA, an FDA-approved treatment for Niemann-Pick disease type C, which generated $17.1 million in sales. The company also reported a net loss of $3.1 million, a substantial reduction from the $16.6 million loss recorded in the prior year, reflecting a decrease in operational losses by $13.5 million.

In terms of operational changes, Zevra completed the acquisition of Acer Therapeutics on November 17, 2023, which has expanded its product portfolio to include OLPRUVA, an FDA-approved treatment for urea cycle disorders. The merger has also brought in additional investigational product candidates, including celiprolol for vascular Ehlers-Danlos syndrome. The company has shifted its focus away from in-house drug discovery, opting instead to outsource these activities to prioritize late-stage clinical development and commercialization efforts.

Zevra's operational metrics indicate a growing customer base, with 122 enrollments for MIPLYFFA as of March 31, 2025. The company has also seen an increase in reimbursement coverage for OLPRUVA, which has risen from 55% to approximately 78% of U.S. covered lives since its acquisition. The company’s employee headcount has increased as it builds its commercial organization to support the launch and ongoing sales of its products.

The financial outlook for Zevra appears positive, bolstered by the recent sale of a priority review voucher for $148.3 million, which is expected to enhance its liquidity position. As of March 31, 2025, the company reported cash and cash equivalents totaling $37.3 million, alongside investments of $31.4 million. However, Zevra acknowledges the ongoing challenges of generating consistent positive cash flows and the potential need for additional financing to support its operations and product development initiatives in the future. The company plans to continue leveraging its existing product sales and potential royalties from collaborations to fund its activities.