--- title: "Zevra Therapeutics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 36.22 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285429812.md" datetime: "2026-05-06T20:11:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285429812.md) - [en](https://longbridge.com/en/news/285429812.md) - [zh-HK](https://longbridge.com/zh-HK/news/285429812.md) --- # Zevra Therapeutics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 36.22 M Revenue: As of FY2026 Q1, the actual value is USD 36.22 M, beating the estimate of USD 31.96 M. EPS: As of FY2026 Q1, the actual value is USD 0.6, beating the estimate of USD 0.0811. EBIT: As of FY2026 Q1, the actual value is USD 50.27 M. Zevra Therapeutics, Inc. reported its financial results and corporate updates for the first quarter ended March 31, 2026, as detailed in a press release issued on May 6, 2026 . #### Revenue, Net Revenue, net for Q1 2026 was $36.2 million, marking a 78% increase over Q1 2025 revenue of $20.4 million . The Q1 2026 revenue included $24.6 million from MIPLYFFA net revenue, $0.3 million from OLPRUVA net revenue, $10.2 million in net reimbursements from the Expanded Access Program (EAP), and $1.1 million in royalties and other reimbursements under the AZSTARYS® license agreement . #### Cost of Product Revenue Cost of product revenue (excluding non-cash intangible asset amortization) was $1.9 million in Q1 2026, compared to $1.3 million in Q1 2025 . #### Intangible Asset Amortization Intangible asset amortization was $0.3 million in Q1 2026, down from $1.6 million in Q1 2025 . #### Gain on Sale of Future Royalties, Intellectual Property, and Other Assets, Net The company reported a net gain of $43.3 million from the sale of future royalties, intellectual property, and other assets in Q1 2026, with no comparable gain in Q1 2025 . #### Operating Expenses Total operating expenses for Q1 2026 were $25.2 million, including $3.1 million in non-cash stock compensation expense, an increase from $22.8 million in Q1 2025 . **Research and Development (R&D) Expense**: R&D expense increased by $1.1 million to $4.4 million in Q1 2026, from $3.3 million in Q1 2025, primarily due to increased third-party costs and professional fees . **Selling, General and Administrative (SG&A) Expense**: SG&A expense rose by $1.2 million to $20.8 million in Q1 2026, from $19.5 million in Q1 2025, primarily due to increased professional fees, partially offset by decreased third-party spending . #### Income (Loss) from Operations Income from operations was $52.1 million in Q1 2026, a significant improvement from a loss of - $5.4 million in Q1 2025 . #### Other (Expense) Income Total other (expense) income for Q1 2026 was - $7.3 million, compared to $3.4 million in Q1 2025 . This included a loss on extinguishment of debt of - $2.8 million, a loss on derivative liability of - $7.2 million, and interest expense of - $1.7 million in Q1 2026, versus - $2.0 million in Q1 2025 . Fair value adjustments related to warrant and CVR liability were $1.0 million in Q1 2026, down from $4.9 million in Q1 2025, while fair value adjustments related to investments were - $0.2 million in Q1 2026 and - $0.003 million in Q1 2025 . Interest and other income, net, increased to $3.6 million in Q1 2026 from $0.5 million in Q1 2025 . #### Income (Loss) Before Income Taxes Income before income taxes was $44.8 million in Q1 2026, a substantial increase from a loss of - $1.9 million in Q1 2025 . #### Income Tax Expense Income tax expense was - $6.9 million in Q1 2026, compared to - $1.2 million in Q1 2025 . #### Net Income (Loss) Net income for Q1 2026 was $37.9 million, a significant improvement from a net loss of - $3.1 million in Q1 2025 . #### Adjusted Quarterly Net Income (Non-GAAP) Estimated adjusted quarterly net income (Non-GAAP) for Q1 2026 was $11.5 million, or $0.18 per diluted share . This excludes a $43.3 million one-time gain on the sale of the SDX portfolio, one-time charges of - $2.8 million in loss on extinguishment of debt, - $7.2 million in loss on derivative liability and payoff premium related to the term loan prepayment, and - $6.9 million in income tax expense related to the transaction . #### Cash Position As of March 31, 2026, cash, cash equivalents, and securities totaled $236.8 million . Zevra Therapeutics, Inc. received $40.5 million of the $45.0 million in net proceeds from the sale of the SDX portfolio in Q1 2026 . #### Balance Sheet Highlights (in thousands) - **Cash and cash equivalents**: $95,595 as of March 31, 2026, up from $62,406 as of December 31, 2025 . - **Investments, current**: $105,021 as of March 31, 2026, down from $128,605 as of December 31, 2025 . - **Total current assets**: $229,968 as of March 31, 2026, up from $223,007 as of December 31, 2025 . - **Long-term debt**: $0 as of March 31, 2026, significantly reduced from $61,928 as of December 31, 2025 . - **Total liabilities**: $72,775 as of March 31, 2026, down from $130,074 as of December 31, 2025 . - **Total stockholders’ equity**: $205,804 as of March 31, 2026, up from $154,657 as of December 31, 2025 . #### Operational Metrics Nine new prescription enrollment forms for MIPLYFFA® (arimoclomol) for Niemann-Pick disease type C (NPC) were received in Q1 2026, bringing the total to 170 since product launch . MIPLYFFA® market access in the U.S. remains stable at 69% of covered lives, and as of March 31, 2026, 122 patients were enrolled in the Global Expanded Access Program (EAP) . In the Phase 3 DiSCOVER Trial for Vascular Ehlers-Danlos Syndrome, 10 patients were enrolled in Q1 2026, totaling 62 enrolled patients with two confirmed events . Zevra Therapeutics, Inc. completed a $50.0 million sale of the SDX portfolio to Commave Therapeutics and prepaid the principal balance on its $63.1 million term loan in full, resulting in a debt-free balance sheet . #### Outlook / Guidance Zevra Therapeutics, Inc. plans to hold a follow-up meeting with the FDA in the second half of the year to explore pathways for accelerating the clinical development of its treatment for Vascular Ehlers-Danlos Syndrome . The Marketing Authorisation Application for arimoclomol for the treatment of NPC is currently under review by the European Medicines Agency . Based on its current operating forecast, the company believes its available financial resources are sufficient to execute on its strategic priorities independent of capital markets . ### Related Stocks - [ZVRA.US](https://longbridge.com/en/quote/ZVRA.US.md) ## Related News & Research - [Zevra Therapeutics (ZVRA) Expected to Announce Quarterly Earnings on Wednesday](https://longbridge.com/en/news/284598899.md) - [Zevra Therapeutics, Inc. Q4 2025 Earnings Preview](https://longbridge.com/en/news/278284499.md) - [West Pharma amends 8-K on material cyberattack disclosure](https://longbridge.com/en/news/287111623.md) - [Abundia Global Impact amends 8-K to disclose 2025 equity plan share increase](https://longbridge.com/en/news/287111321.md) - [Apollo Hospitals posts 36% jump in Q4 net profit to Rs 529 crore](https://longbridge.com/en/news/287081683.md)