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Zevra Therapeutics (NASDAQ:ZVRA) President and CEO Neil F. McFarlane recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, McFarlane sold a total of 91,817 shares of common stock over two days, February 13 and 14, 2025. The transactions were executed at prices ranging from $7.8571 to $8.0527 per share, amounting to a total sale value of approximately $727,389. The sales occurred as the stock trades near its current price of $8.07, with InvestingPro data showing the company's market capitalization at $430 million.
Following these transactions, McFarlane's direct ownership in Zevra Therapeutics stands at 191,516 shares. The sales were made under a pre-established 10b5-1 trading plan, adopted on October 15, 2024, which allows company insiders to set up a predetermined schedule for selling stocks. According to InvestingPro analysis, analysts maintain optimistic price targets ranging from $14 to $25, with the company scheduled to report earnings on February 28. Get access to 8 additional ProTips and comprehensive analysis through InvestingPro's detailed research reports.
In other recent news, Zevra Therapeutics launched MIPLYFFA, the first FDA-approved treatment for Niemann-Pick disease type C (NPC). The rollout pace of the treatment has met the company's post-approval distribution plan, and early demand has exceeded expectations. In addition, Zevra's AmplifyAssist program aims to provide support to patients and caregivers, including assistance with insurance coverage, copay, and funding alternatives.
On the financial side, Zevra Therapeutics reported its Q3 results, revealing a net loss for the quarter. However, the company emphasized a strong cash runway extending into 2027, boosted by a successful underwritten public offering. Despite the successful launch of MIPLYFFA, Zevra faced challenges with the launch of OLPRUVA for urea cycle disorders, attributing this to low patient awareness and reimbursement issues.
In terms of future plans, Zevra Therapeutics is focusing on commercial excellence, pipeline innovation, talent development, and corporate foundation for 2024. The company also plans to expand MIPLYFFA into the EU market, with details expected in early 2024. These recent developments highlight the company's commitment to addressing rare diseases and its strategic focus on long-term growth.
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