Zevra Therapeutics Inc (NAS:ZVRA)
$ 8.61 0.06 (0.7%) Market Cap: 453.04 Mil Enterprise Value: 460.09 Mil PE Ratio: 0 PB Ratio: 11.18 GF Score: 43/100
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Q1 2024 Zevra Therapeutics Inc Earnings Call Transcript

May 08, 2024 / 12:00PM GMT
Release Date Price: $5.16 (-0.29%)

Key Points

Positve
  • Zevra Therapeutics Inc (ZVRA) successfully launched OLPRUVA, focusing on raising awareness and demonstrating commitment to UCD patients.
  • The company has seen meaningful growth in reimbursement coverage for OLPRUVA, increasing from 55% to nearly 75% of covered lives.
  • Zevra Therapeutics Inc (ZVRA) is preparing for the potential launch of Arimoclomol, with ongoing clinical discussions and engagement with key opinion leaders.
  • KP1077 showed promising results in Phase 2 trials for treating idiopathic hypersomnia, with plans for an end of Phase 2 meeting with the FDA.
  • Financially, Zevra Therapeutics Inc (ZVRA) secured a new credit facility providing up to $100 million in committed capital, enhancing financial flexibility.
Negative
  • OLPRUVA's sales were de minimis during the quarter, indicating slow initial uptake post-launch.
  • The company reported a net loss of $16.6 million for Q1 2024, reflecting ongoing investments and operational costs.
  • Despite the launch of OLPRUVA, only four new patient enrollments were reported in the quarter, suggesting challenges in patient adoption.
  • Zevra Therapeutics Inc (ZVRA) faces significant regulatory hurdles, including an upcoming FDA advisory committee meeting for Arimoclomol.
  • The company's cash and cash equivalents saw a decrease of $15 million compared to the previous quarter, indicating substantial cash burn.
Operator

Good morning, everyone. Thank you for joining the Zevra Therapeutics' first quarter 2024 corporate update and financial results call. Today's call is being recorded and will be made available on the company's website following the conclusion of the call.

With that, I will now turn the call over to Nicole Ochsner, Vice President of Investor Relations and Corporate Communications at Zebra Therapeutics.

Nichol Ochsner
Zevra Therapeutics Inc - Vice President of Investor Relations & Corporate Communications

Good morning, and thank you for joining us today to review Zevra Therapeutics' progress in the first quarter of 2024, outlining our clinical advances, operational achievements and financial results.

Before we get started, let me take a moment to provide some important information. I encourage you to access the news release which was published this morning and is available in the Investor section of Zevra's website.

As we begin our call, it's important to highlight that today's discussion will include forward looking statements.

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