Key Highlights

  • Zevra Therapeutics (NASDAQ:ZVRA) closed at USD 10.99 on October 8, 2026, down 0.81%, with a market cap near USD 653 million. A published screener shows 94.46% gross Margin and 41.15% net margin.
  • The company reported on August 5, 2026 that second quarter Revenue was USD 39.7 million, up about 53% from USD 25.9 million, led by USD 30.2 million of MIPLYFFA sales for Niemann-Pick disease type C.
  • Second quarter Net Income was USD 8.8 million, against USD 74.7 million a year earlier, when a USD 148.3 million priority review voucher gain was included. Cash and investments were USD 260.2 million.
  • Long-term Debt was zero at June 30, 2026, down from USD 61.9 million at December 31, 2025, and no company news was found that explains recent price moves.

What the Quality Numbers Mean

The screener lists Return on Equity of 33.44%, Operating Margin of 28.71%, debt to equity of 0.01 and trailing revenue growth of 119.40%. Reported figures are lower: second quarter revenue grew about 53% and first half revenue was USD 75.9 million against USD 46.3 million, about 64% higher by simple arithmetic. The trailing screener rate is therefore not matched by any single reported period, and the exact basis could not be verified. Zevra Therapeutics (NASDAQ:ZVRA) repaid its debt during the first half of 2026, which explains the near-zero debt to equity. Income tax expense was USD 4.0 million in the second quarter, and the release showed no tax benefit. A Warrant Liability of USD 13.2 million also remains on the balance sheet.

Where the Revenue Comes From

MIPLYFFA, approved for Niemann-Pick disease type C, brought in USD 30.2 million in the second quarter. Global early access program reimbursements added USD 9.0 million, and OLPRUVA contributed USD 0.2 million. In the United States there were 14 new prescription enrollment forms in the quarter and 184 since launch, with 132 patients enrolled in the global early access program. Gross margin is high because product costs are small against the price of an orphan drug. Early access reimbursements may fade when commercial approvals in other regions arrive, and the European application is under a requested re-examination with no timing given, so overseas revenue is uncertain.

Risks and What to Watch

Zevra Therapeutics (NASDAQ:ZVRA) depends on one lead product, so slower patient enrollment would hurt growth. The Phase 3 DiSCOVER trial of celiprolol for vascular Ehlers-Danlos syndrome had 66 patients enrolled and 3 confirmed events, and management expects FDA talks in the second half of 2026 on faster paths. The company presented at investor conferences on September 9, 14 and 15, 2026, but no new catalyst was found. Third quarter results are estimated for November 4, 2026, not confirmed. Reported net income can also swing with one-off items such as vouchers, impairments and tax. A single product also means a pricing or reimbursement change could hit revenue quickly. Check the next filing for updates.

Where Things Stand

Zevra Therapeutics (NASDAQ:ZVRA) meets the quality screen because MIPLYFFA sales carry a 94.46% gross margin, it repaid its debt and revenue grew about 53% in the second quarter. The screener growth of 119.40% could not be matched to a reported period, and profit is lower than last year's voucher-boosted result. Watch patient enrollment, the celiprolol trial and the estimated November 4, 2026 report. The company has cash and investments of USD 260.2 million to fund trials.