ZVRANasdaqPharmaceutical PreparationsUS GAAP · USD

Zevra Therapeutics, Inc

Zevra Therapeutics is a U.S.-based rare-disease pharmaceutical company focused on developing, commercializing, and expanding therapies for small patient populations with high unmet need. Its portfolio includes approved medicines, late-stage product candidates, and partnered assets spanning rare metabolic, neurologic, and genetic disorders.

Liikevaihto106milj. USD
Liikevoitto (EBIT)−62,9milj. USD
+27,7 %v/v
EBIT-marginaali−59,1%
Nettotulos83,2milj. USD
+178,9 %v/v
Vapaa kassavirta−2,4milj. USD
+96,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−100−50050100150milj. USD2020: EBIT −5,6 milj. USD20202021: EBIT 7,7 milj. USD20212022: EBIT −43 milj. USD20222023: EBIT −50 milj. USD20232024: EBIT −87 milj. USD20242025: 106 milj. USD2025: EBIT −63 milj. USD2025106−63
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Commercial rare-disease therapies65 %

Approved medicines sold for rare disease indications, including MIPLYFFA and OLPRUVA.

Partnered royalty income15 %

Royalties and milestone payments from partnered products such as AZSTARYS.

Expanded access and reimbursement programs10 %

Revenue tied to global expanded access and related reimbursement arrangements.

Clinical-stage pipeline assets10 %

Late-stage development programs including celiprolol and KP1077 candidates.

Asiakkaat

Zevra sells primarily to specialty pharmacies, distributors, and healthcare systems that dispense rare-disease medicines to patients under physician supervision. Its end users are patients with rare metabolic, neurologic, or genetic disorders, while physicians and treatment centers drive prescribing decisions and access pathways. The company also receives revenue from partners through royalties and milestones tied to licensed products.

Specialty pharmacies

Dispense approved rare-disease medicines such as MIPLYFFA to patients in the United States.

International distributors

Buy and distribute MIPLYFFA in the EU and select non-European territories.

Physicians and treatment centers

Prescribe and manage therapy for rare-disease patients, driving product adoption.

Licensing partners

Generate royalty and milestone income from partnered assets such as AZSTARYS.

Patients and caregivers

Use the therapies for chronic rare-disease treatment and access programs.

Strategia

Zevra is focused on building a rare-disease franchise around commercial execution, late-stage development, and targeted business development. The company is prioritizing MIPLYFFA commercialization and geographic expansion, maintaining OLPRUVA, advancing celiprolol, and adding assets that fit its rare-disease infrastructure.

Commercialize and expand MIPLYFFALyhyt aikaväli

A marketed rare-disease product anchors the franchise and builds commercial infrastructure.

Advance late-stage pipeline assetsKeskipitkä aikaväli

Late-stage programs can extend the company beyond a single commercial product.

Add assets through business developmentKeskipitkä aikaväli

Acquisitions and partnerships can broaden the portfolio without building everything internally.

Focus R&D on higher-probability programsLyhyt aikaväli

Concentrating on late-stage and outsourced development improves capital efficiency.

Maantiede

The company is headquartered in the United States and commercializes MIPLYFFA there, while also pursuing broader access in Europe and select territories outside Europe through distributors and expanded access channels. OLPRUVA has rights in Geographical Europe through a licensing arrangement, and the company is pursuing European regulatory approval for MIPLYFFA. Geography matters because rare-disease commercialization depends on local regulatory approvals, reimbursement systems, and distribution partners.

Riskit

Zevra depends on regulatory approvals, market acceptance, and third-party distribution to commercialize its rare-disease products. Its pipeline and international expansion also expose it to clinical, reimbursement, supply-chain, and foreign-operating risks that are common in specialty pharmaceuticals but amplified by small patient populations.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Dependence on third-party distributors and specialty pharmacy channels1Regulatory approval and compliance risk2Market acceptance risk in rare diseases3Clinical development risk4Foreign operating and reimbursement risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Dependence on third-party distributors and specialty pharmacy channelsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    MIPLYFFA is distributed through a single specialty pharmacy in the U.S. and single distributors in other markets.

    Kohdistuu: Product availability and revenue concentration

  2. Regulatory approval and compliance riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Commercial growth depends on maintaining approvals and obtaining new ones in Europe and for pipeline assets.

    KohdistuuMIPLYFFA EMA reviewCeliprololKP1077 development
  3. Market acceptance risk in rare diseasesVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Even approved therapies may not gain expected uptake if physicians, payors, or patients prefer alternatives.

    Kohdistuu: NPC and other rare-disease indications

  4. Clinical development riskVaikutus: KorkeaTodennäköisyys: Matala

    Late-stage candidates can fail to meet endpoints, delay launches, or require additional studies.

    KohdistuuCeliprololKP1077IHKP1077N
  5. Foreign operating and reimbursement riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    International commercialization faces price controls, reimbursement differences, and currency volatility.

    Kohdistuu: Europe and select non-U.S. territories

Kirjanpito

Harkinnanvaraiset erät
ASC 606 revenue recognition

Revenue comes from product sales, royalties, milestones, and access reimbursements with different timing rules.

Vaikutus: Can cause quarter-to-quarter volatility in reported revenue

Goodwill impairment

Acquisitions created goodwill that must be tested for recoverability.

Vaikutus: Non-cash impairment could materially affect earnings

Definite-lived intangible assets

Acquired product rights are amortized and reviewed for recoverability.

Vaikutus: Affects operating expense and potential impairment charges

Milestone and royalty accounting

Partnered assets such as AZSTARYS generate variable consideration and contingent receipts.

Vaikutus: Can create uneven revenue recognition

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026

Zevra Therapeutics, Inc (Nasdaq) – Pharmaceutical Preparations | Analyysi – Clarifo