Zevra Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Zevra Therapeutics, Inc. filed its 2023 10-K, detailing financial performance and noting the expensing of acquisition-related transaction costs.</b>

AI Summary

ZEVRA THERAPEUTICS, INC. (ZVRA) filed a Annual Report (10-K) with the SEC on April 1, 2024. Zevra Therapeutics, Inc. (formerly KemPharm, Inc.) filed its 2023 Form 10-K on April 1, 2024. The company's fiscal year ends on December 31st. The filing details financial information for the fiscal year ended December 31, 2023. The company's principal business address is in Celebration, Florida. Transaction costs related to an asset acquisition were expensed and included with the acquired asset.

Why It Matters

For investors and stakeholders tracking ZEVRA THERAPEUTICS, INC., this filing contains several important signals. The 10-K filing provides a comprehensive overview of Zevra's financial health and operational activities for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The expensing of transaction costs associated with an asset acquisition, as noted in the filing, impacts the company's reported expenses and asset valuation, requiring careful review by financial analysts.

Risk Assessment

Risk Level: medium — ZEVRA THERAPEUTICS, INC. shows moderate risk based on this filing. The company's financial performance and future prospects are heavily reliant on the success of its drug development pipeline and regulatory approvals, which carry inherent risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Zevra's current financial position and potential growth drivers.

Financial Highlights

revenue

35,450,257

total Assets

37,787,402

total Debt

0

revenue Growth

2.63

Key Numbers

• 35,450,257 — Revenue (2023) (Consolidated Statements of Operations)
• 34,540,304 — Revenue (2022) (Consolidated Statements of Operations)
• 10,000,000 — Authorized Common Stock (Balance Sheet)
• 250,000,000 — Authorized Preferred Stock (Balance Sheet)

Key Players & Entities

• ZEVRA THERAPEUTICS, INC. (company) — Filer name
• KEMPHARM, INC (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-01 (date) — Filing date
• Celebration, FL (location) — Business address

FAQ

Risk Factors

• In-Process Research and Development Expenses [medium — financial]: The company expenses in-process research and development assets, impacting current period financial results.

Industry Context

Zevra Therapeutics operates in the pharmaceutical preparations industry, focusing on the development and commercialization of therapies.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review Zevra's detailed financial statements for FY 2023, paying close attention to revenue trends and expense recognition.
2. Analyze the impact of the expensed asset acquisition on the company's balance sheet and income statement.
3. Assess the company's overall financial health and future outlook based on the information provided in the 10-K.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-01: 10-K Filing Date — Date Zevra Therapeutics filed its annual report.

Glossary

IPR&D asset

In-Process Research and Development asset (Costs associated with this type of asset are expensed upon acquisition.)

Year-Over-Year Comparison

This 10-K filing provides the annual financial overview for the fiscal year ending December 31, 2023, compared to the prior year's reported figures.

Key Financial Figures

• $0.0001 — nge on Which Registered Common Stock, $0.0001 par value ZVRA The Nasdaq Stock Marke
• $12.8 m — to its creditors with a cash payment of $12.8 million, and agreed to assume an estimate
• $5.2 million — ssume an estimated reserve liability of $5.2 million related to revenue generated from Orpha
• $76.0 million — contingent payments up to an additional $76.0 million upon the achievement, if any, of certai

Filing Documents

• zvra20231231_10k.htm (10-K) — 4816KB
• ex_538723.htm (EX-4.5) — 56KB
• ex_644386.htm (EX-10.78) — 150KB
• ex_597333.htm (EX-10.31) — 30KB
• ex_643620.htm (EX-21.1) — 3KB
• ex_538727.htm (EX-23.1) — 6KB
• ex_538728.htm (EX-31.1) — 14KB
• ex_538729.htm (EX-31.2) — 14KB
• ex_538730.htm (EX-32.1) — 7KB
• ex_538731.htm (EX-32.2) — 7KB
• ex_631096.htm (EX-97.1) — 36KB
• 0001437749-24-010430.txt (&nbsp;) — 22529KB
• zvra-20231231.xsd (EX-101.SCH) — 110KB
• zvra-20231231_cal.xml (EX-101.CAL) — 87KB
• zvra-20231231_def.xml (EX-101.DEF) — 769KB
• zvra-20231231_lab.xml (EX-101.LAB) — 637KB
• zvra-20231231_pre.xml (EX-101.PRE) — 828KB
• zvra20231231_10k_htm.xml (XML) — 5843KB

Business

Business 7 Item 1A.

Risk Factors

Risk Factors 30 Item 1B. Unresolved Staff Comments 81 Item 1C. Cybersecurity Item 2.

Properties

Properties 82 Item 3.

Legal Proceedings

Legal Proceedings 82 Item 4. Mine Safety Disclosures 82 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 87 Item 6. [Reserved] 87 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 88 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 102 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 102 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 102 Item 9A. Controls an d Procedures 102 Item 9B. Other Information 103 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 103 PART III Item 10. Directors, Executive Officers and Corporate Governance 104 Item 11.

Executive Compensation

Executive Compensation 104 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 104 Item 13. Certain Relationships and Related Transactions, and Director Independence 104 Item 14. Principal Accounting Fees and Services 104 PART IV Item 15. Exhibits and Financial Statement Schedules 105 Item 16. Form 10-K Summary 154

Signatures

Signatures 155 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, including the section entitled " Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, or the Securities Act, and the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as "may," "will," "would," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "assume," "intend," "potential," "continue" or other similar words or the negative of these terms. We have based these forward-looking statements largely on our current expectations about future events and financial trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in "Risk Factors" and elsewhere in this report. Accordingly, you should not place undue reliance upon these forward-looking statements. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, the timing of events and circumstances and actual results could differ materially from those anticipated in the forward-looking statements. Forward-looking statements contained in this report include, but are not limited to, statements about: our ability to integrate Acer (as defined below) into our business successfully or realize the anticipated synergies and related benefits of the Merger (as defined below); the progress of, outcome or and t

View Full Filing

View this 10-K filing on SEC EDGAR