ZEVRA THERAPEUTICS, INC. ZVRA
We are a commercial-stage company with a late-stage pipeline committed to redefining what is possible in bringing life-changing therapies to people living with rare diseases. We are focused on expanding patient access, progressing our pipeline toward key milestones, and delivering meaningful therapeutics. Our vision is realized through disciplined execution of our strategic plan and our core values — patient centricity, integrity, accountability, innovation, and courage — which guide our efforts to deliver long-term value. The commercialization of our lead product, marketed in the United States for Niemann-Pick disease type C (NPC), a rare, progressive neurodegenerative disease, provides a strong corporate foundation and demonstrates our ability to advance therapies from development to market.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106.5M | $23.6M | $27.5M | $10.2M | $28.6M | $13.3M | $12.8M | $0 | — | — |
| Cost of revenue | — | — | $2.9M | $222.0K | $2.1M | — | $10.0M | $0 | — | — |
| Gross profit | — | — | $24.5M | $9.9M | $26.6M | — | $2.8M | $0 | — | — |
| R&D | — | — | — | — | $10.2M | $8.8M | $19.4M | $41.8M | $20.6M | $20.5M |
| SG&A | $77.6M | $54.9M | $34.3M | $15.0M | $8.7M | $7.9M | $10.8M | $12.5M | $12.8M | $14.0M |
| Total operating expenses | $90.4M | $97.0M | $74.1M | $52.7M | $20.9M | $18.9M | $33.2M | $55.9M | $33.4M | $37.5M |
| Operating income | -$62.9M | -$87.0M | -$49.6M | -$42.6M | $7.7M | -$5.6M | -$20.3M | -$55.9M | -$33.4M | -$37.5M |
| Interest expense | $8.0M | $7.4M | $1.5M | $335.0K | $226.0K | $4.8M | $4.9M | $5.5M | $5.8M | $5.5M |
| Pre-tax income | $86.7M | -$90.1M | -$46.0M | -$26.8M | -$8.5M | -$12.8M | -$24.5M | -$56.6M | -$43.4M | -$16.5M |
| Income tax | $3.4M | $15.4M | $0 | $33.0K | $34.0K | $34.0K | $22.0K | $126.0K | $43.0K | $15.0K |
| Net income | $83.2M | -$105.5M | -$46.0M | -$26.8M | -$8.6M | -$12.8M | -$24.5M | -$56.5M | -$43.4M | -$16.5M |
| EPS, basic | 1.40 | -2.28 | -1.30 | -0.78 | -2.11 | -3.21 | — | — | — | — |
| EPS, diluted | 1.35 | -2.28 | — | — | -2.11 | -3.21 | -13.23 | -3.15 | -2.96 | -1.13 |
| Shares, diluted (wtd. avg.) | $57.3M | $46.3M | $35.5M | $34.5M | $29.8M | $4.0M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $62.4M | $33.8M | $43.0M | $65.5M | $112.3M | $4.2M | $3.2M | $18.4M | $10.9M | $16.8M |
| Short-term investments | $128.6M | $35.7M | $24.7M | $16.9M | $0 | — | — | $3.3M | $31.4M | $51.0M |
| Receivables | — | $10.2M | $16.1M | $7.2M | $1.4M | $2.4M | $1.7M | $0 | $2.0M | $5.0M |
| Inventory | $1.7M | $2.0M | $0 | $671.0K | — | — | — | — | — | — |
| Total current assets | $223.0M | $86.0M | $86.9M | $92.8M | $115.1M | $8.4M | $7.0M | $23.7M | $45.9M | $74.4M |
| Property, plant and equipment | $489.0K | $356.0K | $736.0K | $794.0K | $884.0K | $1.0M | $1.5M | $1.8M | $2.0M | $2.0M |
| Goodwill | $4.7M | $4.7M | $4.7M | $0 | — | — | — | — | — | — |
| Other intangibles | $6.4M | $69.0M | $69.2M | $0 | — | — | — | — | — | — |
| Total assets | $284.7M | $178.1M | $172.3M | $115.3M | $132.9M | $11.2M | $10.5M | $26.7M | $52.5M | $84.9M |
| Accounts payable | $2.5M | $13.1M | $14.0M | $3.6M | $516.0K | $1.2M | $1.1M | $3.7M | $2.2M | $469.0K |
| Total current liabilities | $39.3M | $34.1M | $73.7M | $12.0M | $4.2M | $7.5M | $5.4M | $12.0M | $11.5M | $6.6M |
| Long-term debt | $61.9M | $59.5M | $5.1M | — | — | $67.7M | $77.3M | $81.4M | $92.7M | — |
| Total liabilities | $130.1M | $138.5M | $110.5M | $40.2M | $5.8M | $77.6M | $85.0M | $93.3M | $110.0M | $103.6M |
| Retained earnings | -$422.1M | -$505.3M | -$399.8M | -$353.7M | -$267.0M | -$258.5M | -$245.7M | -$221.2M | -$164.7M | -$121.3M |
| Total equity | $154.7M | $39.7M | $61.9M | $75.1M | $101.7M | -$66.4M | -$74.5M | -$66.6M | -$57.5M | -$18.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.6M | -$69.7M | -$33.5M | -$18.7M | $10.4M | -$1.9M | -$23.7M | -$54.2M | -$33.1M | -$29.8M |
| Depreciation and amortisation | $4.1M | $6.4M | $1.0M | $944.0K | $257.0K | $273.0K | $304.0K | $324.0K | $336.0K | $175.0K |
| Stock-based compensation | $12.6M | $14.9M | $6.0M | $4.3M | $2.4M | $2.5M | $4.4M | $6.5M | $4.6M | $6.6M |
| Capital expenditure | $835.0K | $0 | $296.0K | $93.0K | $102.0K | $33.0K | $26.0K | $21.0K | $181.0K | $643.0K |
| Investing cash flow | $18.1M | -$22.2M | -$17.4M | -$36.7M | -$15.5M | -$33.0K | $3.2M | $33.3M | $27.4M | -$45.8M |
| Financing cash flow | $12.1M | $82.1M | $28.5M | $8.4M | $113.1M | $2.7M | $4.9M | $28.0M | -$203.0K | $61.2M |
| Buybacks | — | $0 | $3.4M | $4.7M | $2.8M | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001434647-26-000025.
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