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Investing.com -- Zevra Therapeutics, Inc. (NASDAQ:ZVRA) reported second-quarter revenue that exceeded analyst expectations, but shares fell 3% after the rare disease-focused company posted a significant earnings miss.
The company reported adjusted earnings per share of -$0.06 for the second quarter, falling well short of the analyst consensus estimate of $2.19. Revenue came in at $25.9 million, surpassing the consensus estimate of $22.49 million and showing substantial growth from $4.4 million in the same quarter last year.
Zevra’s revenue was primarily driven by $21.5 million in net sales from MIPLYFFA, its treatment for Niemann-Pick disease type C that was approved late last year. The company reported 7 new prescription enrollment forms for MIPLYFFA during the quarter, bringing the total to 129 since launch, with market access reaching 52% of covered lives.
"Following approval late last year, we are focused on executing the U.S. launch of MIPLYFFA, and we believe the remarkable performance in the second quarter sets a strong foundation for continued momentum," said Neil F. McFarlane, Zevra’s President and Chief Executive Officer.
The company’s quarterly results included several significant one-time items, including $148.3 million in net proceeds from the sale of a Pediatric Rare Disease Priority Review Voucher, a $58.7 million non-cash impairment charge related to intangible assets, and an $11.7 million inventory obsolescence charge.
Zevra ended the quarter with a strong cash position of $217.7 million as of June 30, 2025. The company stated it has "sufficient resources and financial flexibility to execute on our strategic priorities independent from the capital markets."
The company also reported progress in its pipeline, including the filing of a Marketing Authorisation Application with the European Medicines Agency for arimoclomol (marketed as MIPLYFFA in the U.S.) for the treatment of NPC, and the enrollment of 7 additional patients in its Phase 3 trial of celiprolol for Vascular Ehlers-Danlos Syndrome.
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