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

TL;DR

<b>ZyVersa Therapeutics, Inc. has filed its 2023 10-K report, detailing its financial performance and corporate history.</b>

AI Summary

ZyVersa Therapeutics, Inc. (ZVSA) filed a Annual Report (10-K) with the SEC on March 25, 2024. ZyVersa Therapeutics, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company was formerly known as Larkspur Health Acquisition Corp. and changed its name on April 26, 2021. ZyVersa Therapeutics operates in the Pharmaceutical Preparations industry (SIC code 2834). The filing includes detailed financial information for the fiscal years 2023, 2022, and 2021. The company's principal business address is located at 217 W. Main Street, Somerville, NJ 08876.

Why It Matters

For investors and stakeholders tracking ZyVersa Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ZyVersa's financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's current standing. The report's historical data, including the former company name and name change date, offers context on ZyVersa's evolution and strategic shifts.

Risk Assessment

Risk Level: low — ZyVersa Therapeutics, Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational disclosures, posing no immediate or unusual risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand ZyVersa Therapeutics' performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-25 — Filing Date (Date of submission)
• 2834 — SIC Code (Industry classification)
• 001-41184 — SEC File Number (Company's SEC file number)

Key Players & Entities

• ZyVersa Therapeutics, Inc. (company) — Filer name
• Larkspur Health Acquisition Corp. (company) — Former company name
• 2024-03-25 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 217 W. MAIN STREET, SOMERVILLE, NJ 08876 (address) — Business address
• 0001493152-24-011073 (filing_id) — Accession number

FAQ

Industry Context

ZyVersa Therapeutics, Inc. operates within the Pharmaceutical Preparations sector, focusing on the development and commercialization of therapeutic products.

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. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Review any disclosed risk factors to understand potential business challenges.
3. Examine the company's business description for strategic initiatives and product pipeline updates.

Key Dates

• 2024-03-25: 10-K Filing — Annual report submission date
• 2023-12-31: Fiscal Year End — End date of the reporting period
• 2021-04-26: Name Change — Date ZyVersa Therapeutics, Inc. adopted its current name

Year-Over-Year Comparison

This is the company's 2023 10-K filing, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ZVSA The Nasdaq
• $8.61 — (based upon the closing sales price of $8.61 for such shares on the Nasdaq Global Ma
• $130 billion — s Medicare Fee-for-Service spending was $130 billion in 2018 according to the National Kidne

Filing Documents

• form10-k.htm (10-K) — 2734KB
• ex4-8.htm (EX-4.8) — 143KB
• ex23-1.htm (EX-23.1) — 4KB
• ex23-2.htm (EX-23.2) — 3KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 11KB
• form10-k_001.jpg (GRAPHIC) — 40KB
• form10-k_002.jpg (GRAPHIC) — 82KB
• form10-k_003.jpg (GRAPHIC) — 62KB
• form10-k_004.jpg (GRAPHIC) — 11KB
• form10-k_005.jpg (GRAPHIC) — 11KB
• form10-k_006.jpg (GRAPHIC) — 21KB
• form10-k_007.jpg (GRAPHIC) — 24KB
• form10-k_008.jpg (GRAPHIC) — 24KB
• form10-k_009.jpg (GRAPHIC) — 24KB
• form10-k_010.jpg (GRAPHIC) — 25KB
• form10-k_011.jpg (GRAPHIC) — 19KB
• form10-k_012.jpg (GRAPHIC) — 20KB
• form10-k_013.jpg (GRAPHIC) — 15KB
• form10-k_014.jpg (GRAPHIC) — 17KB
• form10-k_015.jpg (GRAPHIC) — 12KB
• form10-k_016.jpg (GRAPHIC) — 12KB
• form10-k_017.jpg (GRAPHIC) — 14KB
• form10-k_018.jpg (GRAPHIC) — 13KB
• form10-k_019.jpg (GRAPHIC) — 14KB
• form10-k_020.jpg (GRAPHIC) — 73KB
• form10-k_021.jpg (GRAPHIC) — 19KB
• form10-k_022.jpg (GRAPHIC) — 42KB
• form10-k_023.jpg (GRAPHIC) — 50KB
• 0001493152-24-011073.txt (&nbsp;) — 11779KB
• zvsa-20231231.xsd (EX-101.SCH) — 64KB
• zvsa-20231231_cal.xml (EX-101.CAL) — 68KB
• zvsa-20231231_def.xml (EX-101.DEF) — 278KB
• zvsa-20231231_lab.xml (EX-101.LAB) — 527KB
• zvsa-20231231_pre.xml (EX-101.PRE) — 405KB
• form10-k_htm.xml (XML) — 1416KB

Risk Factors

Risk Factors 34 1B. Unresolved Staff Comments 70 1C. Cybersecurity 70 2.

Legal Proceedings

Legal Proceedings 71 4. Mine Safety Disclosures 71 PART II 72 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 72 6. Reserved 72 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 73 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 81 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 81 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 81 9A.

Controls and Procedures

Controls and Procedures 81 9B. Other Information 81 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 81 PART III 82 10. Directors, Executive Officers and Corporate Governance 82 11.

Executive Compensation

Executive Compensation 85 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 93 13. Certain Relationships and Related Transactions, and Director Independence 95 14. Principal Accounting Fees and Services 96 PART IV 97 15. Exhibits, Financial Statement Schedules 97 16. Form 10-K Summary 99

Signatures

Signatures 100 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking identify these forward-looking statements through our use of words such as "may," "can," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential" and other similar words and expressions of the future. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking our ability to realize the anticipated benefits of going public through our business combination with Larkspur Health Acquisition Corp., a special purpose acquisition company; our ability to continue as a going concern; the costs associated with our business; our financial and business performance, including financial projections and business metrics; our ability to achieve and maintain profitability in the future

Business

Business Strategy We seek to be recognized as a leading biopharmaceutical company at the forefront of innovation for patients with high unmet medical needs. We are committed to restoring health and transforming the lives of patients through development of biopharmaceutical products. Our strategy is to: Advance development of Cholesterol Efflux Mediator TM VAR 200. We intend to advance development of VAR 200 by initiating a small Phase 2a trial in patients with diabetic kidney disease in H1-2024, in which we expect to obtain patient proof-of-concept data more quickly than in an FSGS trial. This will enable assessment of drug effects as patients proceed through treatment and will provide insights for developing a larger our Phase 2a/b protocol in patients with FSGS. Advance our Inflammasome ASC Inhibitor IC 100 preclinical program. We intend to advance our IC 100 preclinical program toward a planned IND submission in Q4-2024. We currently have non-GLP toxicology data in mice and non-human primates ("NHP") demonstrating no adverse effects nor anti-drug antibodies at doses as high as 300 mg/kg, and pharmacologic proof-of-concept data for IC 100 in animal models and/or tissue cultures representative of acute respiratory distress syndrome and multiple sclerosis, and mechanistic proof of concept in animal models representative of Alzheimer's disease, spinal cord injury, and traumatic brain injury. Studies are underway in animal models representing Parkinson's disease, atherosclerosis, and obesity. This will enable optimal selection of one or more lead indications to take into the clinic. Capitalize on our indication expansion strategy to maximize the commercial potential for each of our product platforms by developing multiple indications in their respective therapeutic areas. Our current pipeline includes three potential indications for our Cholesterol Efflux Mediator TM Platform, VAR 200, (including, FSGS, Alport Syndrome, and diabetic kidney disease), and eight

View Full Filing

View this 10-K filing on SEC EDGAR